Correction: Tieto's comparison figures based on the new business structure
Tieto Corporation STOCK EXCHANGE RELEASE 5 October 2016, 10.45 am EET
Tieto today published new comparison figures based on its new business structure. The release published at 9.00 EET included tables with incorrect segment information. Correct figures are available as an attachment in this release.
Tieto’s operating model and structure have been aligned to the strategy launched in March 2016. The new structure, effective as from 1 July, is based on service lines and industry groups. In line with the new operating model, Tieto has changed its financial reporting. As from the third-quarter interim report, to be published on 25 October, reporting will be prepared in accordance with the new structure.
The service lines are:
- Technology Services and Modernization
- Business Consulting and Implementation
- Industry Solutions
- Product Development Services.
They constitute reportable segments for Tieto. The company will disclose the customer sales and operating profit among others of these reportable segments.
Additionally, Tieto will disclose customer sales by industry groups, which are:
- Financial Services
- Public, Healthcare and Welfare
- Industrial and Consumer Services.
Tieto's financial reporting for 2015 and the first half of 2016 has been adjusted to account for the changes. The figures may still be subject to changes during the year. Comparison figures are available in the attachment Comparison numbers_.pdf and additional material is published at www.tieto.com/Investors.
For further information, please contact:
Lasse Heinonen, CFO, tel. +358 2072 66329, +358 50 393 4950, lasse.heinonen(at)tieto.com
Tanja Lounevirta, Head of Investor Relations, tel.+358 2072 71725, +358 50 321 7510, tanja.lounevirta (at) tieto.com
Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems.
Headquartered in Finland, Tieto has over 13 000 experts in close to 20 countries. Tieto’s turnover is approximately EUR 1.5 billion and shares listed on NASDAQ in Helsinki and Stockholm. www.tieto.com