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Edited Transcript of TIETO.HE earnings conference call or presentation 17-Feb-21

February 18, 2021
in Market Overviews
3 min read
Retailers and CRE Companies Optimistic About Strong Recovery, Continued
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Q4 2020 TietoEVRY Corp Earnings Call Espoo Feb 17, 2021 (Thomson StreetEvents) — Edited Transcript of TietoEVRY Corp earnings conference call or presentation Wednesday, February 17, 2021 at 8:00:00am GMT TEXT version of Transcript ================================================================================ Corporate Participants ================================================================================ * Kimmo Alkio TietoEVRY Oyj – CEO & President * Tanja Lounevirta TietoEVRY Oyj – Head of Financial Communications * Tomi Hyryläinen TietoEVRY Oyj – CFO ================================================================================ Conference Call Participants ================================================================================ * Christoffer Wang Bjørnsen DNB Markets, Research Division – Analyst * Daniel Djurberg Handelsbanken Capital Markets AB, Research Division – Research Analyst * George W Webb Morgan Stanley, Research Division – Equity Analyst * Jaakko Tyrvainen SEB, Research Division – Analyst * Michael Briest UBS Investment Bank, Research Division – MD of Global Technology Research Group & Head of the European Technology Research * Panu Laitinmäki Danske Bank A/S, Research Division – Senior Analyst * Sami Sarkamies Nordea Markets, Research Division – Senior Analyst of TMT ================================================================================ Presentation ——————————————————————————– Tanja Lounevirta, TietoEVRY Oyj – Head of Financial Communications [1] ——————————————————————————– Good morning, ladies and gentlemen. We ended the unique year of 2020 with strong profitability. You will soon hear presentation by Kimmo Alkio, our President and CEO; and Tomi Hyryläinen, our CFO, discussing the highlights of the fourth quarter. (Operator Instructions) My name is Tanja Lounevirta, I’m Head of Financial Communications. I welcome you all on my behalf. Now happy to welcome Kimmo, please. ——————————————————————————– Kimmo Alkio, TietoEVRY Oyj – CEO & President [2] ——————————————————————————– Thank you very much, Tanja, and a warm welcome to everybody also on my behalf. This time, we’ll be sharing our perspectives on both the fourth quarter performance and for the completion of the first year operations for the combined TietoEVRY. What an exciting and a good year it has been. The highlights of the fourth quarter would be best characterized as following: As Tanja briefly mentioned already, strong profitability and cash flow. So several of our fundaments throughout the year have continued to be strong. The main message is regarding end of year the fourth quarter adjusted operating margin healthy at 15%, driven specifically by our software business, the Industry Software business, and Digital Consulting. Furthermore, fourth quarter revenues organically down by 6%, affected as anticipated by both the pandemic and the short-term decline in our Cloud & Infra business. We have reached a run rate of synergies of EUR 80 million, and our integration continues to be fully on schedule. Furthermore, the operative cash flow for the full year, very healthy, at EUR 355 million. And we now have the dividend proposal by the Board of Directors at EUR 1.32 per share. So overall dynamic end of the year, good end of the year and a good year overall. In terms of the core financial figures regarding the full fiscal year 2020, revenues of approximately EUR 2.8 billion, organic growth minus 2%, pandemic impact haven’t been actually also — to negative 2%, reaching EBIT adjusted EUR 355 million, 12.7% of revenues, and the operating cash flow, the aforementioned EUR 355 million and reaching the net debt-to-EBITDA of 2.5 at year-end. Overall, in the midst of both the integration and the pandemic, we believe, we have formed a good foundation for future performance and future competitiveness. And overall, the financial healthiness, including dividend attractiveness, continues to be heading in a good direction. A few other highlights, a bit on the overall operations throughout year 2020. And I’d like to reflect this in 3 categories. Innovation, by nature, very demanding, very exciting. Throughout the year, independent of the pandemic, we have met all of our key milestones, key objectives regarding…



Read More: Edited Transcript of TIETO.HE earnings conference call or presentation 17-Feb-21

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