contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Frans-Mikael Rostedt

Head of Nordic ER Development, Analyst

Antti Luiro

Witted Megacorp is an IT consulting company. The company offers a wide range of consulting services and IT solutions, mainly services related to project and business development. The solutions are used by a number of corporate customers in various sectors. In addition to the main business, various ancillary services are offered. The largest operations are found in the Nordic market.

Here are Frans’s comments as Teemu Tiilikainen makes a comeback as CFO.  On Monday, Witted appointed Teemu Tiilikainen as the company’s new CFO, who is making a comeback to the role from his position as the company’s Head of Finnish Operations. At the same time, the company is streamlining its management model by leaving the position of Country Manager for Finland unfilled. In addition, Jouni Jaakkola, the long-term Development Director at the company, joins the management team. The changes are in line with the operational efficiency improvements we previously anticipated.                   Inderes              Witted: Tuttu mies takaisin CFO:n rooliin, organisaatiorakenne tiivistyy...    Teemu Tiilikainen tekee paluun yhtiön CFO:ksi Suomen maajohtajan paikalta, johon rooliin ei haeta korvaajaa.

Few companies rocket for very long based solely on one analyst’s positive view. The analyst has certifiably been positive, but for example, you can find risks, explanations, and forecasts there:                   Inderes              Witted Megacorp - Inderes    Witted on vuonna 2016 perustettu teknologiariippumaton IT-palveluyhtiö, joka keskittyy rakentamaan asiakkailleen ohjelmistokehitystiimejä. Yhtiö tarjoaa asiakkailleen perinteisiä ohjelmistokehityspalveluita digijärjestelmien kehityshankkeisiin...                             Then we can move on to the fact that the share price development hasn’t been a bed of roses for others either. You can go check out how Gofore, Vincit, Solteq, etc., are doing  If we look at the stock market, we have a K-shaped market; US tech and all big companies continue at ATH levels and everything small, risky, and tied to the Finnish economy is dragging at the bottom:  If we consider why Witted’s share price hasn’t performed well, let’s quickly list what comes to mind:  Listing in a hot market with over-optimistic targets and forecasts → bitter and disillusioned investors Hundreds of billions are invested in AI annually. In a positive scenario, the amount of code increases tremendously and more coders are needed than ever; in a negative scenario, only a small fraction of current coders will be needed in the future, and work will only remain for the best AI-assisted coders, leading to a massive oversupply in the labor market, and these IT consultant intermediaries will be disrupted out of the economy. The Finnish state’s finances and the ability & desire to invest in anything or software  The lack of public sector demand brings price competition to public sector contracts and also causes price competition in the private sector, as everyone needs high utilization rates Witted is cheap on a revenue basis. This offers good potential IF profitability can be brought to a reasonable level. Unfortunately, a shareholder cannot eat revenue; we need profit and cash flow. According to forecasts, Witted’s result will improve and the company is cheap on multiples, but in reality, Witted has never really made a profit; the whole investment is based on the ASSUMPTION and HOPE that the company could generate positive cash flow in the future.

What are currently the main reasons why this company’s share price is just crawling along?  Positive recommendations have been given for years, but it just won’t take off. The company buys back a small amount of shares daily, but that doesn’t seem to have much of an impact either.

Frans gave brief comments on Saara leaving for Gofore                    Inderes              Wittedin talousjohtaja siirtyy Goforelle - Inderes    Wittedin talousjohtaja Saara Ukkonen on irtisanoutunut ja siirtyy Goforen talousjohtajaksi.

Frans also specifically asked for more details about the organic development of the number of experts, which remained hidden due to the addition of Software Sauna. The answer is November -2 vs October. This is for the information of all interested parties.

You asked about a) sales of continuations and b) business areas other than software development. Here are the answers! Sales of continuations are still ongoing, and I admit I eagerly ask sales about the situation almost every day. The best current view is that continuations are progressing similarly to last year. I would gladly give a more precise factual answer, but the work is still in progress. I’m not yet ready to shift my gaze to next year - we still have work to do with the continuations.  Regarding the situation picture of other business areas. In Nexec’s change consulting, new sales have been quieter in the past couple of months, whereas August-September, on the other hand, showed strong performance. It’s still difficult to draw a larger conclusion regarding the trend from this.

Here are Frans’s comments on Witted’s November.  Witted announced that November’s revenue grew by 5% from last year to EUR 4.9 million, which was slightly below our EUR 5.0 million forecast. Adjusted for working days, revenue grew by 10%, of which approximately 4.2 percentage points was organic growth. The rest came from the Software Sauna acquisition, which was included in the figures for the first time. The company commented that Software Sauna continued to grow as part of Witted. The company also commented that Norway’s revenue grew significantly, where strong sales months in September now materialized into revenue. In Finland, revenue showed slight growth when adjusted for working days. Positively, the company commented that new sales continued to grow better than revenue, and November was the second-best sales month of the year for software consulting in Norway and Finland. This creates the conditions for the continuation of the positive revenue trend now observed.                   Inderes              Witted: Orgaaninen kasvu käynnistyi marraskuussa - Inderes    Liikevaihto kasvoi työpäiväoikaistuna orgaanisesti vertailukauteen nähden 4 %.

Witted Megacorp

Q4-tulos oli isossa kuvassa melko linjassa odotuksiimme. Liikevaihto laski orgaanisesti vaikeassa toimintaympäristössä hieman odotuksiamme enemmän, mutta oikaistu operatiivinen tulos parani ...

<p>Q4-tulos oli isossa kuvassa melko linjassa odotuksiimme. Liikevaihto laski orgaanisesti vaikeassa toimintaympäristössä hieman odotuksiamme enemmän, mutta oikaistu operatiivinen tulos parani odotuksiamme hieman enemmän tehtyjen kustannussäästötoimenpiteiden ajamana. Yhtiö keskittää vuosina 2024-2025 fokuksen täysin kannattavuuteen ja näemme edellytykset selkeälle kannattavuuskäänteelle. Liikevaihtopohjainen arvostus on painunut niin matalaksi (2024e oik. EV/S 0,34x), että kannattavuuden noustessa edes siedettävälle tasolle, on tuotto-odotus mielestämme hyvin houkutteleva.</p> 

	2023	24e	25e
Revenue	64.1	62.2	65.9
growth-%	21.2 %	-3.0 %	6.0 %
EBIT (adj.)	-0.2	1.6	2.9
EBIT-% (adj.)	-0.2 %	2.6 %	4.4 %
EPS (adj.)	-0.01	0.09	0.16
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	neg.	15.2	8.6
EV/EBITDA	neg.	8.0	3.6

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Key Estimate Figures07.02.2024

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