TietoEnator posts Q4 loss

Source: TietoEnator

Highlights

  • Revised strategy and change of President and CEO were announced on 16 October. Hannu Syrjälä was appointed as the Group's new President and CEO effective by 15 February.
  • TietoEnator's Performance Improvement Programme is expected to deliver over EUR 100 million of annual cost savings from the end of 2009.
  • Fourth-quarter net sales grew by 8% to EUR 491.3 (455.5) million. Full-year net sales totalled EUR 1 772.4 (1 646.5) million, up 8%.
  • Fourth-quarter operating profit amounted to EUR -63.8 (43.9) million and operating margin was -13.0% (9.6). Operating profit included one-off items of EUR 104.5 million related to the Performance Improvement Programme announced in October 2007 and net capital gains of EUR 1.5 (7.3) million.
  • Full-year operating profit totalled EUR 1.3 (127.7) million and included one-off items of EUR 104.7 million related to the Performance Improvement Programme and net capital losses of EUR 1.6 (net gains 15.7) million.
  • Profit after taxes was EUR -71.3 (29.0) million for the fourth quarter, EUR -31.2 (87.3) million for the full year.
  • Fourth-quarter EPS amounted to EUR -1.00 (0.39), full-year EPS to EUR -0.44 (1.15).
  • Dividend proposal EUR 0.50 (1.20) per share


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