Tieto Corporation STOCK EXCHANGE RELEASE 31 May 2016, 10.00 am EET
Tieto is holding its Capital Market Day in Helsinki today. At the event the company will provide insights into its recently launched strategy, addressing drivers of competitiveness in today’s dynamic IT software and services market. In their presentations, Tieto leaders will discuss the respective businesses and outlook for 2016–2020.
With its new strategy for 2016–2020, launched on 17 March, Tieto aims to become customers’ first choice for business renewal as the leading Nordic software and services company. Tieto is looking forward to further accelerating growth and scale – and to continue providing shareholder returns above industry average. The company sees its competitiveness as being mainly driven by software-based industry solutions, cloud services and cognitive automation.
“We see an attractive market with opportunities for our customers to drive efficiency in their businesses and in parallel innovate new business models. Our aim is to provide customers with new opportunities to both renew their businesses and co-create future innovations. We expect to increase the scalability of our business through software-driven businesses, automation and actively working with our ecosystem partners,” says Kimmo Alkio, President and CEO.
Tieto expects its positive financial development to continue. According to its formal financial objectives, Tieto aims to achieve a reported operating margin (EBIT) of 10% and IT services revenue growth faster than the market. While the financial objectives remain unchanged the company sees potential to annually grow by more than 5% in IT services, including new areas such as data-driven businesses. Growth potential is anticipated to materialize especially towards the end of the strategy period. The ambition is to maintain the adjusted operating margin sustainably above 10% and to achieve the profitability objective before 2020.
Tieto Capital Market Day will be webcasted with a live stream. A link to the webcast and the material for the event are available at www.tieto.com/Investors. On-demand videos will be available on 1 June.
For further information, please contact
Lasse Heinonen, CFO, tel.+358 2072 66329, +358 50 393 4950, lasse.heinonen(at)tieto.com
Tanja Lounevirta, Head of Investor Relations, tel. +358 50 321 7510, tanja.lounevirta(at)tieto.com
Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems.
Headquartered in Finland, Tieto has over 13 000 experts in close to 20 countries. Tieto’s turnover is approximately EUR 1.5 billion and shares listed on NASDAQ in Helsinki and Stockholm. www.tieto.com