Tietoevry's restated financial information for 2024
Tietoevry Corporation STOCK EXCHANGE RELEASE 15 April 2025 9.00 a.m. EEST
Tietoevry announced on 23 March that it had entered into an agreement to divest its Tietoevry Tech Services business to funds advised by Agilitas Private Equity LLP. The transaction is expected to be closed during the third quarter of 2025, subject to fulfilment of certain closing conditions. Upon completion of the transaction, Tietoevry's reportable segments will comprise software businesses Tietoevry Banking, Care and Industry and the global digital engineering business Tietoevry Create.
Starting from its first-quarter 2025 reporting, Tietoevry will classify Tietoevry Tech Services operations as held for sale and will report it as a discontinued operation under IFRS 5 `Non-current Assets Held for Sale and Discontinued Operations'. In the consolidated income statement, the result from the discontinued operation is reported separately from continuing operations. In its segment reporting, Tietoevry will report only continuing operations.
Tietoevry publishes restated financial information for 2024 financials in the attachment, constituting comparative information for the company. The statement of financial position and the statement of cash flows are not restated. Additional material is published on the company's website.
The discontinued operation includes revenue and operating expenses directly related to the Tietoevry Tech Services business while certain Group operating costs related to supporting Tietoevry Tech Services are not included in the discontinued operation. As a result, financial information presented for the continuing operations and discontinued operations does not reflect profitability of either business on a stand-alone basis.
Tietoevry Group revenue for 2024, adjusted for changes in internal eliminations, is reduced from EUR 2 802.6 million to EUR 1 879.5 million. The continuing operations are burdened by the costs that support Tietoevry Tech Services but cannot be allocated to discontinued operations. The company estimates that the negative impact of these costs on restated operating margin (EBIT) of 7.6% and adjusted operating margin (EBITA) of 12.0% in 2024 was around 1.6 percentage points.
For further information, please contact
Tommi Järvenpää, Head of Investor Relations, tel. +358 40 576 0288, tommi.jarvenpaa (at) tietoevry.com
TIETOEVRY CORPORATION
DISTRIBUTION
NASDAQ Helsinki
NASDAQ Stockholm
Oslo Børs
Principal Media
Tietoevry is a leading software and digital engineering services company with global market reach and capabilities. We provide customers across different industries with mission-critical solutions through our specialized software businesses* Tietoevry Care, Tietoevry Banking and Tietoevry Industry, as well as our digital engineering business Tietoevry Create. Our 16 000* talented vertical software, design, cloud and AI experts are dedicated to empowering our customers to succeed and innovate with latest technology.
Tietoevry's annual revenue for the continuing businesses* is approximately EUR 2 billion. The company's shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com
* Tietoevry Tech Services is excluded due to the divestment signed in March 2025. The transaction is expected to close during Q3 2025.