TietoEVRY Oyj (TIETOS) Q3 2024 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Tieto Corporation.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.740 -- 00:00:04.885 This morning, we will go through our earnings development and outlook. 00:00:04.885 -- 00:00:10.691 With me here today are our President and CEO Kimmo Alkio and CFO 00:00:10.691 -- 00:00:16.118 Tomi Hyryläinen, who will next go through the highlights and results of the quarter. 00:00:16.118 -- 00:00:19.822 Kimmo, please go ahead. Thank you very much, Tomi. 00:00:19.822 -- 00:00:25.268 A warm welcome also mine and Tomi's behalf to our third quarter results 00:00:25.268 -- 00:00:26.744 announcement. 00:00:26.744 -- 00:00:32.093 Our third quarter performance characterized as a bit provided insight 00:00:32.093 -- 00:00:35.919 already a week ago, given that we did the guidance change, let us go through the main 00:00:35.919 -- 00:00:40.266 drivers of the current environment and third quarter performance. 00:00:40.266 -- 00:00:43.551 Our main message being that improved profitability 00:00:43.551 -- 00:00:49.421 in a weakening market environment. The weakening market environment contributing 00:00:49.421 -- 00:00:54.048 to our revenue development, revenue decline of 1%. 00:00:54.048 -- 00:00:55.512 Furthermore, 00:00:55.512 -- 00:01:00.766 high degree of attention on the resilience of the company, resilience 00:01:00.766 -- 00:01:05.780 of all the businesses, a lot of attention on the cost-based management, enabling us to 00:01:05.780 -- 00:01:09.089 improve profitability to 13.5% 00:01:09.089 -- 00:01:14.306 level. Today, we are also confirming that the strategic review of Tieto 00:01:14.306 -- 00:01:17.452 EveryTech services is progressing, 00:01:17.452 -- 00:01:22.643 and we have advanced to an exclusive process with 00:01:22.643 -- 00:01:26.227 a non-industrial buyer. 00:01:27.292 -- 00:01:32.480 Just to move forward again, I want t...