Looking at the year as a whole, the difficult market situation is illustrated by the fact that none of the listed companies in the IT service sector achieved excellent or even good performance according to the Rule of 20 we have introduced.

We are launching our own Rule of 20 for the IT services sector, which we believe works well, if not best, as a single parameter to measure the operational performance of the sector and especially of the companies.

In the coming year, companies should be able to see who has adapted to the changing market situation and whose strategy is working.

The IT services sector's Q3 results were met with a cautious mood after five companies in the sector issued profit warnings in just over a month. The decline in working day-adjusted organic revenue development for the sector's companies accelerated slightly as customers continued to economize, although the comparison period was already weak for most of them. Profitability, on the other hand, was significantly higher year-on-year, but the group was clearly divided between strong and weak performers.

In the rest of the Nordic countries, organic revenue development turned upwards and profitability was at a reasonably good level in Q2.

With the Q2 reports and subsequent earnings warnings, our revenue and profitability expectations have declined slightly. The expected strengthening of the general economic development in Finland and Europe and the interest rate cuts provide some light at the end of the tunnel and create the conditions for a gradually improving demand outlook also for the IT services sector next year.

Finnish listed IT services companies' organic revenue decline accelerated slightly, although the comparison period was already weak for several of them.

The strengthening of the general economic situation in Finland and Europe and the expected decline in interest rates provide some light at the end of the tunnel and, in our opinion, create the conditions for a gradually improving demand outlook also for the IT services sector next year.

The organic revenue development of the Finnish listed IT service companies took a downturn from a strong comparison period. At the same time, profitability declined from the good comparison period, although slightly less than expected, helped by cost savings.