TietoEVRY : Solid organic growth in Q1 thanks to a limited COVID-19 impact
>Solid organic growth of 2.7% in Q1 - On Tuesday before trading, TietoEVRY published Q1 2020 revenues of € 744m, up +82.2% y-o-y, a shade above forecasts (ODDO BHF: € 753m, consensus: € 756m) due to a negative forex effect of -3%. However, organic growth was +2.7% y-o-y, well above our expectations (ODDO BHF: +0.2%e y-o-y organic, no consensus), marking an acceleration vs Q4 2019 (+2.1% y-o-y organic) thanks to a limited impact from COVID-19 and a positive calendar ef...Tieto is an IT services company in the Nordics providing full lifecycle IT services. The reportable operating segments in service line dimension are Managed Services, which is an IT infrastructure and cloud provider that provides enterprise platform services and end user solutions; Consulting and System Integration, which provides consulting and system integration services, application management and transformation consulting; Industry Products, which provides industry-specific software products and productized solutions; and Product Development Services, which provides services in the field of communications and embedded technologies for a global customer base.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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