TietoEVRY : Strong profitability offsets lack of growth in the short term
>Q3 2020 organic growth of -4.3% below expectations - TietoEVRY yesterday reported before market opening a Q3 2020 sales of € 644m, down 7% y-o-y, 1% below expectations (ODDO BHF and the consensus at € 653m) due to negative forex effects and a negative COVID-19 effect estimated at -4% (vs -2% in Q2). Organic growth thus amounted to -4.3% y-o-y, below our expectations (vs ODDO BHF: -1.9% y-o-y org, no consensus), thus marking a stronger-than-expected deterioration vs...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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