2011-04-20 13:00:00 CEST
2011-04-20 13:00:16 CEST
REGULATED INFORMATION
Tieto Oyj - Company Announcement
Tieto's comparison figures for 2010 based on the new business structure
Tieto Corporation STOCK EXCHANGE RELEASE 20 April 2011, 2.00 pm EET
Tieto's new business structure and operating model took effect at the beginning
of 2011. The new structure is based on market units and business lines. In line
with the new operating model, renewed internal reporting and the IFRS
requirements, Tieto has changed its financial reporting at the beginning of
2011. The market units will be the main operating segments covering Finland and
the Baltic countries, Scandinavia, Central Europe & Russia and Global Accounts.
Reportable segments are defined based on IFRS8, 'Operating Segments'. On these
segments, Tieto will disclose a range of quarterly figures as required by the
IFRS.
In addition to market unit reporting, Tieto will disclose the net sales by
business lines, which are Industry Solutions, Enterprise Solutions, Managed
services & transformation and Product Engineering Solutions. Tieto will also
disclose net sales by customer sector. The standard IFRS8, 'Operating Segments'
requires a "management approach", under which segment information is presented
on the same basis as it is used for internal reporting purposes.
The first interim report for 2011 to be published on 28 April 2011 will be
prepared in accordance with the new reporting structure. Tieto's financial
reporting for 2010 has been adjusted for the changes. The tables below are also
available in excel format at www.tieto.com/Investors.
Net sales by market unit, EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Finland and the Baltic countries 185 188 168 202 742
Scandinavia 111 118 105 134 468
Central Europe & Russia 31 32 30 33 126
Global Accounts 172 175 159 186 692
Group elimination -77 -82 -75 -82 -315
Group total 423 431 387 472 1 714
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Net sales by country, EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Finland 205 210 184 227 826
Sweden 113 120 107 139 479
Other 106 102 96 107 410
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Group total 423 431 387 472 1 714
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Net sales by business line, EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Industry Solutions 130 134 119 155 537
Enterprise Solutions 47 45 41 50 182
Managed services and transformation 159 168 151 179 657
Product Engineering Solutions 87 85 77 91 339
Group total 423 431 387 472 1 714
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Net sales by customer sector, EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Telecom 142 146 131 150 571
Financial Services 88 90 82 97 358
Other industries 193 194 173 225 785
Group total 423 431 387 472 1 714
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Operating profit (EBIT) by market unit,
EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Finland and the Baltic countries 15.5 14.6 16.4 16.0 62.5
Scandinavia 3.9 5.5 4.9 7.2 21.6
Central Europe & Russia - 2.0 - 4.2 - 3.9 - 14.2 - 24.3
Global Accounts 12.2 17.8 17.7 12.3 60.0
Steering Functions and Group Management - 10.8 - 14.2 - 7.4 - 14.9 - 47.4
Operating profit (EBIT) 18.9 19.5 27.7 6.4 72.4
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Operating margin (EBIT) market unit, %
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Finland and the Baltic countries 8.4 7.8 9.8 8.0 8.4
Scandinavia 3.5 4.7 4.7 5.4 4.6
Central Europe & Russia -6.5 -13.3 -12.8 -42.8 -19.3
Global Accounts 7.1 10.2 11.1 6.6 8.7
Operating margin (EBIT) 4.5 4.5 7.2 1.4 4.2
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Capital expenditure by market unit, EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Finland and the Baltic countries 14.8 13.0 17.3 19.9 65.1
Scandinavia 5.1 7.7 3.9 5.1 21.7
Central Europe & Russia 0.2 2.2 1.0 0.8 4.3
Global Accounts 1.0 1.8 0.9 1.1 4.7
Steering Functions and Group Management 0.5 0.4 0.5 2.3 3.8
Group total 21.6 25.0 23.6 29.2 99.5
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Non-current assets by country, EUR million
2010 2010 2010 2010
31 Mar 30 Jun 30 Sep 31 Dec
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Finland 93.1 94.8 99.0 106.6
Sweden 30.7 35.7 37.2 38.9
Other 26.1 29.2 28.0 27.2
Total assets 149.8 159.6 164.2 172.7
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Goodwill is allocated to the Cash Generating Units, which include several
countries and therefore goodwill is not included in the country specific
non-current assets shown above.
Depreciation by market unit, EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Finland and the Baltic countries 10.6 11.0 11.2 11.9 44.7
Scandinavia 2.3 2.6 2.8 2.9 10.6
Central Europe & Russia 0.4 0.5 0.6 1.1 2.6
Global Accounts 0.8 0.8 0.9 0.8 3.3
Steering Functions and Group Management 0.4 0.4 0.6 0.7 2.1
Group total 14.5 15.2 16.0 17.5 63.3
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Amortization on allocated intangible assets from
acquisitions, EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Finland and the Baltic countries 0.1 0.1 0.1 0.1 0.4
Scandinavia 0.3 0.3 0.3 0.3 1.2
Central Europe & Russia 0.3 0.4 0.3 0.3 1.4
Global Accounts 1.1 1.2 1.2 1.1 4.6
Steering Functions and Group Management 0.0 0.0 0.0 0.0 0.0
Group total 1.8 2.0 1.9 1.9 7.6
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Impairment losses, EUR million
2010 2010 2010 2010 2010
1-3 4-6 7-9 10-12 1-12
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Finland and the Baltic countries 0.0 0.0 0.0 0.0 0.0
Scandinavia 0.0 0.0 0.0 0.0 0.0
Central Europe & Russia 0.0 0.0 0.0 0.0 0.0
Global Accounts 6.6 1.0 0.0 0.0 7.6
Steering Functions and Group Management 0.0 0.0 0.0 0.0 0.0
Group total 6.6 1.0 0.0 0.0 7.6
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For further information, please contact:
Seppo Haapalainen, CFO, tel. +358 2072 63500
Reeta Kaukiainen, VP, Communications and Investor Relations, tel. +358 2072
68711, +358 50 522 0924, reeta.kaukiainen@tieto.com
TIETO CORPORATION
DISTRIBUTION
NASDAQ OMX Helsinki
NASDAQ OMX Stockholm
Principal Media
Tieto is the leading IT service company in Northern Europe providing IT and
product engineering services. Our highly specialized IT solutions and services
complemented by a strong technology platform create tangible business benefits
for our local and global customers. As a trusted transformation partner, we are
close to our customers and understand their unique needs. With more than 17 000
experts, we aim to become a leading service integrator creating the best
service experience in IT. www.tieto.com
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