Tietoevrys operating profit below expectations
Pinpointkonsensus ahead of Tietoevrys Q4-report is based on 24 estimates. The compilation is presented in MEUR.
Net sales
Tietoevry reported net sales of 698,7 MEUR, a decrease of -7.11% from the previous year's 752,2 MEUR. Compared to the Pinpoint consensus of 725,7 MEUR the result is in line with expectations with a difference of -3.72%
EBIT
EBIT amounted to -144.1 MEUR, a decrease of -271.34% from the previous year's 84.1 MEUR. Compared to the Pinpoint consensus of 69.49 MEUR the result is below expectations.
Margin
The result corresponds to a margin -20.62% compared to 11.18% the previous year and the expected 9.58%.
"As part of its annual impairment testing, carried out in the fourth quarter, Tietoevry recorded a non-cash charge of EUR 200 million in impairment losses. This impairment loss related to the goodwill held in Tietoevry Tech Services which is impacted by overall market softness, consequently resulting in lower value in use estimations"
Pinpoint Estimates is an open platform that compiles estimates from investors and analysts ahead of publicly traded companies' quarterly and annual reports. Contributors are given different weights in the consensus based on their historical accuracy.