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TietoEVRY (TIETOS) investor relations material
TietoEVRY Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Organic revenue declined 4% year-over-year in Q2 2025 amid soft market conditions, especially in the Create segment.
Adjusted EBITA margin was 9.4%, including a 1.3 pp negative impact from tech services/IFRS 5 costs.
Permanent CEO Endre Rangnes appointed, new leadership team onboarded to drive execution and customer focus.
Major cost optimization program launched, targeting €115M run-rate savings by end of 2026 and up to 1,250 personnel reductions.
Non-cash impairment of €80M recorded for legacy banking platform development costs in Norway.
Financial highlights
Q2 2025 revenue: €463M, down from €479M in Q2 2024; organic growth -4%.
Adjusted EBITA: €44M (9.4% margin), down from €51M (10.7%) year-over-year.
Operating cash flow at €51M; free cash flow at €20M, both down year-over-year.
Order backlog up 14% year-over-year and 9% sequentially, reaching €2,222M.
Net debt/EBITDA at 2.4x at Q2 end; net debt at €875M.
Outlook and guidance
Full-year 2025 organic growth expected between -2% and +1%; adjusted EBITA margin guidance at 12.0–13.0%.
Cost optimization activities to deliver €115M run-rate savings by end of 2026.
H2 2025 performance expected to improve, with Banking and Industry profitability above prior year, Create and Care below.
Market uncertainty and weak visibility persist; no market recovery expected in 2025.
Sparebanken court ruling could provide additional upside in Q3.
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