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Tietoevry Corporation     INTERIM REPORT 23 October 2025    9:00 a.m. (EEST)
 

• Organic growth 4%, or -1% eliminating the revenue related to a court ruling in Tietoevry Banking
• Tietoevry Care and Industry back to growth
• Adjusted operating margin 19.3% (12.8%), or 15.2% eliminating the court ruling effect in Tietoevry Banking
• Improved profitability in all businesses
• Cost optimization progressing towards the 2026 target of EUR 115 million – run-rate savings of EUR 75 million achieved by the end of the third quarter​
• The divestment of the Tech Services business completed during the quarter

The divestment of Tietoevry Tech Services was completed on 2 September. The business has been presented as a discontinued operation as from the first quarter of 2025. The financial information presented in this report concerns continuing operations, unless otherwise stated. The comparative information has been restated accordingly.

The full interim report with tables is available at the end of this release.
 

	7–9/2025	7–9/2024	1–9/2025	1–9/2024
Revenue, EUR million	454.2	436.3	1 388.1	1 407.6
Organic growth1), %	4	-1	-1	0
Acquisitions and divestments, %	0	1	0	3
Foreign exchange rates, %	0	-1	0	-1
Total growth, %	4	0	-1	2
Organic growth adjusted for working days4), %	4	-2	-1	1
Operating profit/loss (EBIT), EUR million	56.5	35.5	16.4	108.3
Operating margin (EBIT), %	12.4	8.1	1.2	7.7
Adjusted2) operating profit (EBITA3)), EUR million	87.8	55.9	181.3	167.0
Adjusted2) operating margin (EBITA3)), %	19.3	12.8	13.1	11.9
Cash flow from operating activities, EUR million5)	44.7	58.2	193.4	198.1
Interest-bearing net debt, EUR million5)	551.9	900.5	551.9	900.5

 

Full-year outlook for 2025 updated on 15 September

Tietoevry expects its organic¹⁾ growth to be in the range of -2% to 0% (revenue in 2024: EUR  1 879.5 million). The company estimates its full-year adjusted operating margin²⁾ (adjusted EBITA³⁾) to be 12.7–13.3% (12.0% in 2024).

The profitability outlook includes a negative IFRS 5-related impact of approximately 1.1 percentage points on the adjusted operating margin (EBITA) due to the Tech Services divestment. The impact comprises the costs that the company was not able to allocate to discontinued operations prior to the closing of the divestment on 2 September, and transition services income after that date.

1) Adjusted for currency effects, acquisitions and divestments
2) Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability
3) Profit before interests, taxes, amortization of acquisition-related intangible assets, goodwill and other intangible asset impairment
4) Company estimate
5) Cash flows combine the continuing and the discontinued operations; balance sheet comparative information not restated.

CEO comment by Endre Rangnes 

Progressing with execution of our strategic priorities: customer first, growth and lean cost structure

“Our third-quarter performance was healthy with early signs of margin recovery. Our organic growth totalled 4% and adjusted operating margin 19.3% – this development was largely driven by revenue related to a court ruling in Tietoevry Banking. When eliminating the positive contribution of this revenue, underlying growth remained at -1%. On a positive note, our underlying margin improved to 15.2% from 12.8% year-on-year, with higher profitability in all businesses, following the execution of our cost optimization efforts. Tietoevry Care and Tietoevry Industry turned to growth whereas revenue development in Tietoevry Create remained negative due to continued challenging market conditions.

Following the successful divestment of Tietoevry Tech Services during the quarter, we are now fully focused on executing our strategic priorities. This marks a pivotal phase for the company, where we are driving forward with a sharpened emphasis on customer centricity, growth and a lean cost structure – anchored by a strong execution mindset.

To accelerate commercial impact, we have launched a comprehensive sales focus programme across business units. This initiative includes a new sales governance model, better aligning demand and supply of competencies for the benefit of our customers, as well as harmonization of CRM systems and targeted sales training. These efforts are designed to reinforce customer trust, strengthen the sales pipeline and enhance incentive effectiveness. Furthermore, our AI programme will help us adopt the best practices of embedding AI in both offerings and sales – and provide AI tools to improve internal productivity.

We are actively transforming our business profile to support sustainable growth and improved profitability. Our strategic focus is on expanding cloud-native and AI-enabled solutions. Our ambition for growth is higher than our current performance, and we are pursuing international expansion for our proven Nordic software solutions. Early market responses – such as our latest win in Catalonia, Spain – are encouraging, though we expect the full impact to materialize over time due to longer lead cycles in new markets. We remain confident in our direction and committed to delivering long-term value for our customers and shareholders.

Our cost optimization programmes introduced earlier this year are progressing as planned towards the EUR 115 million target by the end of 2026. We achieved run-rate savings of EUR 75 million by the end of the third quarter – well in line with the ambition for this year.​

We are excited to introduce the next chapter of the company as well as our business plans at our Capital Markets Day in November. Reflecting on the active dialogue I have had with investors and across our stakeholder groups in the past months, we can be proud of our strong foundation, which comprises our long-term customer relations, relevant and renowned partners, market-leading vertical software assets, innovation capabilities and our talented people. This existing foundation combined with our clear strategy and relentless execution are the cornerstones of our future success.”

Financial performance by segment

 

	Revenue, EUR million	Revenue, EUR million	Growth, %	Organic growth, %	Adjusted operating profit, EUR million	Adjusted operating profit, EUR million	Adjusted operating margin, %	Adjusted operating margin, %
	7–9/2025	7–9/2024			7–9/2025	7–9/2024	7–9/2025	7–9/2024
Tietoevry Create	184.3	190.9	-3	-3	23.6	23.0	12.8	12.1
Tietoevry Banking	157.4	137.9	14	14	43.8	18.3	27.8	13.3
Tietoevry Care	54.8	53.3	3	2	17.4	16.8	31.7	31.6
Tietoevry Industry	64.0	61.7	4	3	12.4	10.1	19.4	16.3
Eliminations and non-allocated costs	-6.3	-7.5	—	—	-9.4	-12.4	—	—
Group total	454.2	436.3	4	4	87.8	55.9	19.3	12.8

 

For further information, please contact:

Tomi Hyryläinen, Chief Financial Officer, tel. +358 50 555 0363, tomi.hyrylainen (at) tietoevry.com

Tommi Järvenpää, Head of Investor Relations, tel. +358 40 576 0288, tommi.jarvenpaa (at) tietoevry.com

A webcast for analysts and media will be held on 23 October at 10.00 a.m. EEST (9.00 a.m. CEST, 8.00 a.m. UK time). Endre Rangnes, President and CEO, and Tomi Hyryläinen, CFO, will present the results online in English. The presentation can be followed on Tietoevry’s website.

To take part in the questions and answers session after the presentation you will need to dial in by phone. You can access the teleconference by registering on this link. After registration you will be provided phone numbers, user ID and a conference ID to access the conference.

The event is recorded and it will be available on demand later during the day. Tietoevry publishes its financial information in English and Finnish.

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 around 15 000 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 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

 

Yinson GreenTech, a leading green technology solutions provider, has unveiled the Hydromover 2.0 through its marine electrification solutions business, marinEV. The all-new vessel boasts longer range, faster charging time and larger cargo capacity, while integrating the next wave of digitalisation and electrification technology in maritime operations, setting a new benchmark for zero-emissions cargo transfers in ports worldwide.

 

Building on the success of the Hydromover prototype, Singapore’s first fully electric cargo vessel launched in November 2023, the latest Hydromover 2.0 introduces multiple key features, including increased energy storage capacity, an advanced hull form that minimises drag, and a redesigned electrical architecture to reduce power loss. These improvements translate into a threefold increase in range that can cover all anchorages within Singapore’s port limits. Fully charged in under two hours, the vessel ensures high uptime and reliability for daily operations. The Hydromover 2.0 also boasts 25% more cargo capacity and a 75% larger deck space, supporting greater cargo consolidation, efficiency, and flexibility in port operations. 

 

The Hydromover 2.0 also represents a major step forward in Yinson GreenTech’s vision to combine electrification and digitalisation in maritime operations. Beyond its zero-emission propulsion, the vessel fully integrates marinEV’s Marine Digital Platform, enabling real-time analytics, route optimisation, automated vessel management, and data-driven decision-making. This powerful combination of clean energy and smart technology positions the Hydromover 2.0 as a catalyst for transforming traditional port operations into connected, efficient, and intelligent ecosystems – setting a new benchmark for sustainable maritime logistics in Singapore and globally. See Annex A for detailed specifications.

 

At the launch event, Yinson GreenTech signed its first bareboat charter agreements with Yacht International UAE, marking a significant milestone in the vessel’s entry into the maritime market. Deliveries of the Hydromover 2.0 vessels to United Arab Emirates (UAE) are expected to be completed by mid-2026. Additionally, a Memorandum of Understanding (MoU) was executed between Yinson GreenTech, Yacht International UAE, and Wilhelmsen Port Services to grow the adoption of electric vessels in ports throughout the UAE.

 

Jan-Viggo Johansen, Managing Director of marinEV, said:

“The all-new Hydromover 2.0 sets unprecedented standards for the modern maritime industry. At the same time, the signing of new agreements in the UAE marks a pivotal step forward for marinEV and Yinson GreenTech. Together, these milestones demonstrate our ability to move beyond innovation and into real-world deployment – taking proven electric vessel technology, connected IoT systems, and integrated digital platforms from Singapore to new markets. They reinforce our commitment to transforming port operations through the combined power of electrification and digitalisation, and to shaping a smarter, cleaner, and more connected maritime future.”

 

Prakash Vakkayil Bhaskaran, Chief Executive Officer of Yacht International LLC, commented:

“The launch of the Hydromover 2.0 marks a defining moment for the UAE maritime sector and for Yacht International. As operator of a fleet of 15 offshore support vessels & now one of the first operators to deploy fully electric vessels in the region, we are proud to contribute directly to the UAE’s Net Zero 2050 vision and Green Mobility initiatives. This project demonstrates that sustainable innovation and commercial efficiency can move hand in hand, setting a new benchmark for clean, smart, and responsible marine operations in our waters. This is more than a vessel launch — it is a statement of intent. The Hydromover 2.0 represents our commitment to shaping the next generation of marine logistics, powered by technology, data, and responsibility to our environment.”

BBC