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Tietoevry's big picture was already known due to the Q3 preliminary data and organic growth was very strong, while profitability was slightly soft. The company also revised its guidance last week, indicating better growth with slightly lower profitability. We expect Tietoevry to deliver moderate earnings growth in the coming years, constrained by inflation and price competition. In our view, Tietoevry's expected return (>10%) is good, but not superior enough to justify a Buy recommendation. In addition, a good risk/return ratio is now also available in the rest of the IT services sector and other listed companies.

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Trade. (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.