Tietoevry: Positive Capital Markets Day
Tietoevry organized a Capital Markets Day (CMD) in Stockholm yesterday, which can be watched here. The theme of the day was “Accelerating value creation”. The presentations provided insights into the company’s strategy execution, business portfolio priorities and new uplifted financial ambitions. In addition, the logic and timetable for activities to be separated were discussed. The CMD increased confidence in the company's growth and we raised our estimates slightly. The valuation picture of the share is still attractive from several angles (2022e adj. P/E 11x and dividend yield > 6%) and now, with the businesses to be separated, the share has drivers to dissolve 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 Figures30.11.2022
2021 | 22e | 23e | |
---|---|---|---|
Revenue | 2,823.3 | 2,945.7 | 3,091.6 |
growth-% | 1.33 % | 4.33 % | 4.95 % |
EBIT (adj.) | 367.7 | 376.4 | 397.6 |
EBIT-% (adj.) | 13.02 % | 12.78 % | 12.86 % |
EPS (adj.) | 2.20 | 2.35 | 2.49 |
Dividend | 1.40 | 1.45 | 1.50 |
Dividend % | 5.09 % | 8.64 % | 8.93 % |
P/E (adj.) | 12.50 | 7.14 | 6.76 |
EV/EBITDA | 7.07 | 6.31 | 5.45 |