Digia

The Q4 earnings season in the IT services sector showed positive signs for the first time in a long while.

In our view, the adjustment measures are a logical continuation of the company's new strategy period, the initial phase of which emphasizes operational renewal and efficiency improvement.

Digia's last year, and Q4 in particular, were good in terms of figures, especially considering the market headwinds. The company's guidance was slightly cautious, which can be explained by front-loaded investments in the new strategy period.

Digia publishes its financial statements release on Thursday, February 5, 2026, at 3:00 pm EET. The key focus in the report is naturally on the 2026 outlook, the priorities of the new strategy period, and the dividend proposal, which we expect to be higher than in the previous year.

The IT service sector's Q3 earnings season began with cautious optimism, as the market looked for signs of a gradual turnaround in the IT service market. Unfortunately, the sentiment remained mostly cautious.

In the rest of the Nordic countries, organic revenue development turned downward and profitability weakened in Q2. Thus, even applying the Rule of 20, the situation in the IT services market remains distinctly challenging, with only one company achieving good performance and two achieving satisfactory performance.

The IT service sector entered the Q2 earnings season in a cautious mood, albeit with expectations of a turnaround. In reality, however, the situation deteriorated even further, with revenue falling more than before and beyond our expectations and profitability remaining at a very low level.

We forecast that the company will continue its systematic strategy implementation, moderate organic growth in the coming years and accelerate growth through acquisitions. Currently, the focus is on internationalization, which was further strengthened by an interesting Polish acquisition.