Tietoevry: Strong finish to the year, future looks promising
Overall, the Q4 report was positive and above market expectations. The company's guidance indicates earnings growth of 5-17% in 2023, which is a strong level for Tietoevry's size. The company's good performance last year and outlook boosted confidence that the positive development will continue in the coming years. The valuation picture for the stock remains attractive from several perspectives (2023e adj. P/E 12x, DCF 37.0 and SOTP 36.0) and the divestments provide drivers to unwind the undervaluation.
Tietoevry
Tietoevry is active in the IT sector. The company offers a range of software and cloud-based solutions, with the greatest specialist expertise in SaaS solutions. Expertise is found in business processes, application services, infrastructure solutions, and front-end solutions. Customers are found in a number of markets on a global level. The company was created in 2019 via a merger of Tieto and EVRY. The head office is located in Helsinki.
Read more on company pageKey Estimate Figures15.02.2023
2022 | 23e | 24e | |
---|---|---|---|
Omsætning | 2.928,1 | 3.082,4 | 3.228,8 |
vækst-% | 3,71 % | 5,27 % | 4,75 % |
EBIT (adj.) | 379,2 | 410,5 | 435,7 |
EBIT-% (adj.) | 12,95 % | 13,32 % | 13,49 % |
EPS (adj.) | 2,35 | 2,57 | 2,75 |
Udbytte | 1,45 | 1,50 | 1,55 |
Udbytte % | 5,47 % | 7,99 % | 8,26 % |
P/E (adj.) | 11,28 | 7,32 | 6,83 |
EV/EBITDA | 8,98 | 5,83 | 5,34 |