TIETO-X PLC STOCK EXCHANGE RELEASE 7 FEBRUARY 2007 AT 9.30 A.M
FINANCIAL STATEMENT BULLETIN FOR THE PERIOD 1 JANUARY 2006 31
DECEMBER 2006
TIETO-X TURNOVER AND OPERATING PROFIT GREW STRONGLY
- Turnover for the financial period was EUR 39.2 million (2005:
EUR 27.4 million).
- Operating profit for the financial period was EUR 3.9 million
(2005: EUR 2.5 million).
- Turnover of the Systems Services business unit was EUR 14.6
million (2005: EUR 12.4 million) and operating profit was EUR 1.6
million (2005: EUR 1.2 million).
- Turnover of the Telecommunication business unit was EUR 24.9
million (2005: EUR 15.3 million) and operating profit was EUR 3.6
million (2005: EUR 2.3 million)
- The company's turnover in the first quarter of 2007 is expected
to clearly exceed the first-quarter turnover of 2006, and the
turnover for the fiscal year is expected to clearly exceed the
turnover of 2006.
- The company's relative profitability of business operations in
the first quarter of 2007 is expected to be on the same level as
in the first quarter of 2006. However, due to the one-off costs of
approximately EUR 0.55 million related to the change of the
company name and the revamping of the corporate image, operating
profit for the first quarter is expected to be on the same level
as in 2006. The operating profit percentage for the financial year
is expected to be on the same level as in 2006, at least, and thus
the operating profit to clearly exceed that of the previous year.
In the last quarter of 2006, Tieto-X's turnover continued to grow
strongly and exceeded the last quarter turnover of 2005 by 34.0
per cent, standing at EUR 12.1 million (2005: EUR 9.1 million).
The turnover for the financial year exceeded the turnover of the
previous year by 43.0 percent, amounting to EUR 39.2 million
(2005: EUR 27.4 million). The Groups pro forma organic growth,
compared to 2005, was 21.8 per cent.
Operating profit for the last quarter exceeded the operating
profit of the same period in the previous year by 53.7 per cent,
amounting to EUR 1.2 million (2005: EUR 0.8 million). Operating
profit for the financial year grew by 56.6 percent compared to the
previous year and stood at EUR 3.9 million (2005: EUR 2.5
million).
Service 4 Mobile Oy (S4M), a company producing project management
services for demanding information systems ventures, which Tieto-X
acquired in June 2006, was adopted in the consolidated balance
sheet on 30 June 2006 using the acquisition cost method and in the
consolidated profit and loss account from 1 July 2006. In the
segment reporting S4M has been adopted into the companys Systems
Services segment.
BUSINESS OPERATIONS
Tieto-X operates in the IT and ICT service markets, offering its
customers flexible software development, maintenance and project
management solutions that support their competitiveness and risk
management. Tieto-Xs services range from expert work and
consultation to software project deliveries and software
maintenance services with comprehensive responsibility.
Tieto-Xs operational business is organised into two business
units, the Systems Services unit and the Telecommunications unit.
The Systems Services unit develops and maintains software that is
part of the customer companies information systems, and it also
produces project management services. The unit's most significant
customers operate in the telecommunications, finance and public
administration sectors.
The Telecommunications unit produces software development,
integration and testing services for the telecommunications
sector. The units clientele comprises leading mobile and
smartphone manufacturers operating on the global markets, as well
as mobile network suppliers and telecom carriers.
Systems Services
The services of Tieto-Xs Systems Services unit comprise software
project deliveries, continuous maintenance services, resourcing
services related to the customer companies software and systems
ventures, as well as project management services. The unit was
reorganized on 1 October 2007 to suit the service models. The aim
of the reorganization is to boost the growth of the service
business in project and maintenance services with comprehensive
responsibility and project management services in large-scale
systems ventures.
The units turnover for the fiscal year grew by 17.5 per cent.
The acquisition in June of Service 4 Mobile Oy (S4M), a company
producing project management services, had a positive impact on
the growth of the units business volume in the second half of the
fiscal year. The integration of S4Ms business operations into the
operations of Tieto-X has been implemented according to plan, and
the first joint customer projects were launched in the last
quarter of the year.
S4M has been formed into Tieto-Xs project management competence
center that develops and productises the project management
competence for the expert project management tasks of the
customers software and systems ventures, as well as for the
project management of Tieto-Xs software services with
comprehensive responsibility. Project management services are
anticipated to be in demand in the coming few years, especially in
companies operating in finance and telecommunication, as well as
in public administration organizations.
The units turnover growth and high utilization rate increased the
unit's profitability compared to the previous year. The units
operating profit grew by 38.8 per cent.
Competition remained fierce in the markets of the Systems Services
unit.
Telecommunications
The turnover of Tieto-Xs Telecommunications unit continued its
strong organic growth during the review period. The growth was
boosted by the successful integration of the business operations
and organisation of Vega Technologies Oy, a company that Tieto-X
acquired in autumn 2005, and Tieto-Xs Telecommunications unit.
The integration brought competence and efficiency advantages that
were put to use, especially in the second half of the year.
The units turnover for the financial period grew 62.2 per cent
compared to the previous year.
The unit's competence in software design and project management
for Symbian smart phones is very competitive, both in terms of
price and quality. This has increased the units market share
among its key customers, and given the unit the opportunity to
extend its operations to new customers operating on the
international smart phone markets.
In October 2005 Tieto-X founded a subsidiary to produce testing
services for Symbian smartphone software and other mobile
communication device software. The name of the company is
Testhouse Oy, and it has a Tallinn-based subsidiary Testhouse
Estonia OÜ. During the financial year, the Testhouse service has
grown into an organization that employs dozens of people and
provides the Telecommunications unit with an excellent way to get
competitive price-setting models for test work. The operations of
Testhouse will be expanded to a new office in Eastern Europe.
The one-time reorganisation costs related to the integration of
Vega Technologies Oy were higher than expected in the second
quarter. These costs weakened the profitability of the first six
months of the year. However, the profitability of the
Telecommunications unit returned to normal level in the third
quarter. The units operating profit for the review period grew by
58.7 per cent compared to the previous year.
The global competition for the software ventures of the leading
international mobile and smartphone manufacturers remained fierce
throughout the year. The software markets for the Symbian
operating system and smartphones based on other technologies are
expected to continue to increase and to offer growth opportunities
for Tieto-X's Telecommunications unit.
TURNOVER
Consolidated turnover was EUR 39.2 million (2005: EUR 27.4
million), up 43.0 per cent from the previous year. Of the
turnover, EUR 18.2 million (2005: EUR 12.6 million) was accrued
during the first six months of the year, and EUR 21.0 million
(2005: EUR 14.8 million) during the last six months.
Of the turnover for the financial period, 37 per cent was accrued
by the Systems Services unit and 63 per cent by the
Telecommunications unit.
TURNOVER BY SEGMENT
K EURO 1-12 2006 1-12 2005
Telecommunications 24,879 15,340
Systems Services 14,604 12,432
Group's internal - 299 - 376
eliminations
Administration 0 0
Group total 39,184 27,396
FINANCIAL RESULT
Consolidated operating profit was EUR 3.9 million (2005: EUR 2.5
million), and profit before taxes was EUR 3.8 million (2005: EUR
2.6 million). Profit for the financial period was EUR 2.9 million
(2005: EUR 1.9 million), which is 7.4 per cent of turnover.
Earnings per share were EUR 0.38 (2005: EUR 0.26). Cash flow from
business operations was EUR 0.33 per share (2005: EUR 0.21).
OPERATING PROFIT BY SEGMENT
K EURO 1-12 2006 1-12 2005
Telecommunications 3,583 2,258
Systems Services 1,629 1,174
Administration - 1,271 - 914
Group total 3,941 2,517
RETURN ON CAPITAL INVESTMENT
Consolidated return on equity (ROE) was 29.8 per cent (2005: 22.9)
and return on investment (ROI) was 28.2 per cent (2005: 26.1).
BALANCE SHEET AND FINANCING
The balance sheet total was EUR 25.4 million (2005: EUR 20.8
million). Shareholders equity was EUR 10.9 million (2005: EUR 8.6
million). Equity ratio was 42.7 per cent (2005: 41.5 per cent).
The Group's liquid assets stood at EUR 3.4 million (2005: EUR 5.0
million) at the end of the financial period. The Group's liquidity
was good throughout the financial period, despite the EUR 5.2
million cash payment related to corporate structuring.
CASH FLOW
Consolidated cash flow from business operations was EUR 2.5
million (2005: EUR 1.6 million).
PERSONNEL
The number of personnel averaged 503 (2005: 355) during the
financial period and was 579 (2005: 438) at the end of the period.
The average age of the personnel was 34.9 years (2005: 34.9
years). 22 per cent (2005: 20) of the personnel were women and 78
(2005: 80) per cent were men. The educational background of the
personnel was as follows: university degree 38 (2005: 39) per
cent, higher vocational degree 31 (2005: 27) per cent, vocational
degree 21 (2005: 22) per cent and other education 9 (2005: 12) per
cent.
PERSONNEL EXPENSES
Salaries and fees including employer's social costs came to EUR
20.2 million (2005: EUR 14.9 million), pension expenses to EUR 3.4
million (2005: EUR 2.5 million) and other indirect personnel costs
to EUR 1.2 million (2005: EUR 0.9 million). Personnel expenses
totalled EUR 24.8 million (2005: EUR 18.3 million), which was
approximately 71 per cent of total costs.
SHARES AND SHARE CAPITAL
Tieto-Xs share capital is EUR 296,948.00, and the total number of
shares is 7,423,700. In accordance with the Articles of
Association, the share capital is a minimum of EUR 217,668 and a
maximum of EUR 870,672.
The accounting countervalue of the share is EUR 0.04. The ISIN
code used in international securities trading is FI0009008007 and
the trading symbol is TIX1V.
SHAREHOLDERS
There were 2,190 shareholders on 31 December 2006. Private persons
owned 64.6 per cent and institutions 35.4 per cent of the
companys shares. Foreign ownership was 4.6 per cent.
OPTIONS PLANS
During the financial period the company had two active stock
options plans. The first of the plans (Stock options plan II/2001)
was authorized by the Annual General Meeting of 10 April 2001. The
option rights issued under this plan have been offered, in
deviation from the pre-emptive rights of the companys
shareholders, to the President and CEO of the company and the
Group companies, to the management, and to key personnel, as
determined by the Board. The option rights entitle their holders
to subscribe for a total of 500,000 Tieto-X Plc shares, and
correspondingly the company share capital due to share
subscriptions may increase by a maximum of EUR 20,000. The maximum
dilution effect is 6.4 per cent.
The extended subscription periods for all option series of the
stock option plan II/2001 have ended on 31 December 2005 at the
latest.The subscription period for all options ends on 31 December
2008 at the latest.A total number of 475,000 options had been
allocated to the company's key persons by the end of the financial
period. At the end of the financial year 70,000 company shares had
been subscribed with the options.
The Annual General Meeting of 14 March 2006 authorized a stock
options plan (Stock options plan III/2006) where the option rights
have been offered, in deviation from the pre-emptive rights of the
companys shareholders, to the President and CEO of the company
and the Group companies, to the management, and to key personnel,
as determined by the Board. The option rights entitle their
holders to subscribe for a total of 400,000 Tieto-X Plc shares,
and correspondingly the company share capital due to share
subscriptions may increase by a maximum of EUR 16,000. The maximum
dilution effect is 4.9 per cent.
The extended subscription periods for the options of option series
A under stock option plan III/2006 ended on 30 April 2006, and the
extended subscription period for options of series B is April 1
30, 2007. The subscription period for all options ends on 31
December 2011 at the latest. A total number of 265,000 options had
been allocated to the company's key persons by the end of the
financial period. The subscription period for the options had not
started by the end of the financial period.
BOARD AUTHORIZATIONS
At the end of the financial year the Board of Directors held the
following valid authorizations:
Authorization granted by the Annual General Meeting on 14 March
2006 to decide to raise share capital in one or more new issues,
to grant option rights and/or to float a convertible bond,
resulting in an increase in share capital of a maximum of EUR
58,493.60. By the end of the financial period, the Board of
Directors had utilized EUR 2,800.00 of this authorization in
connection to the acquisition of Service 4 Mobile Oy. The
authorization is valid for one year from the date of the Annual
General Meeting. The purpose of the authorization is to facilitate
the use of company shares in acquisitions and other corporate
structuring, strengthening or developing the financial and capital
structure of the company, realization of the objectives to seek
motivation and commitment from personnel or other initiatives
which need to be undertaken to further the company's business. The
maximum dilution effect of the authorization with the present
number of shares is 16.5 per cent.
Authorization by the Annual General Meeting on 14 March 2006 to
acquire and convey a maximum of 731,170 of the companys shares.
This authorization was unutilized in its entirety at the end of
the financial period. The authorization is valid for one year from
the date of the Annual General Meeting. Own shares can be acquired
to develop the companys capital structure, to finance acquisition
or other corporate structuring or to be conveyed or cancelled.
INVESTMENTS
The investments for the period totalled EUR 4.0 million, including
the acquisition of Service 4 Mobile Oy for EUR 3.7 million. Of
this sum EUR 1.6 million has been entered in the balance sheet
under short-term debt.
FINANCING
The company agreed on an external financing package with interest
to finance the acquisition of Vega Technologies Oy in October
2005. The financing package included a non-equity loan of max. EUR
7.0 million to finance the corporate acquisition. The companys
interest-bearing debt was raised to EUR 3.0 million during the
financial period. At the end of the financial period, EUR 6.0
million of this financing package had been used.
RISKS
The aim of Tieto-Xs risk management is to ensure undisturbed and
continuous business operations and development, and to support the
implementation of the companys operational targets and increase
its value.
The risks of software development and maintenance processes are
regarded as the most significant risks that threaten the companys
business development. These risks are managed with service
production supervision and monitoring instruments that are in
accordance with the quality management system. Other significant
risks are those related to information systems and data security.
These risks are managed with data administration regulations.
Other risks that are perceived as significant are market and
competition risks as well as economic risks that are managed with
measures in accordance with the companys and the business units
strategies and business plans and regulations of economic planning
and control. In addition, the risk management aims at minimizing
personnel risks by employing measures in line with the personnel
strategy. Contractual, product liability and other legal threats
are managed with the help of the companys administrative and
quality system practices as well as with proper liability
insurances. The threat that possible accidents and injuries cause
is prepared for by office-specific instructions and insurances.
Risk management planning, development and control are part of the
responsibilities of Tieto-Xs CFO, who reports to the President
and CEO. The administrative units and the business units that
implement the companys business operations are responsible for
the assessment and prevention of risks related to their functions.
The Board of Directors deals with significant business risks. The
Board of Directors monitors the implementation of the companys
risk management policy as part of the strategy, business plan and
budgeting processes.
BOARD OF DIRECTORS, PRESIDENT AND CEO, AND AUDITORS
The Annual General Meeting on 14 March 2006 elected Tero
Laaksonen, Eero Hurme, Seppo Jaatinen, Matti Järvinen, Matti
Makkonen and Esko Siik as members of the Board. The Board re-
elected Tero Laaksonen as Chairman of the Board.
Kari Happonen has been President and CEO since 1 May 2002.
The Board of Directors met 19 times during the financial period.
The auditors were PricewaterhouseCoopers Oy, Authorized Public
Accounting Firm, with Authorized Accountant Heikki Lassila as
principal auditor.
EVENTS AFTER THE REVIEW PERIOD
The extraordinary General Meeting of Tieto-X Plc on 25 January
2007 approved the proposal by the Board of Directors to change the
company name and the companys Articles of Association. The
decision to change the company name to Ixonos Plc was made upon
conditions and provided that the Trade Register registers the
change of name.
FUTURE PROSPECTS
Market analysts estimate that the growth of the Finnish IT and ICT
service market will be 4-6 per cent in 2007. If private companies
and public administration organizations increase their
investments, even moderately, to upgrade and develop their
information systems and software, Tieto-Xs Systems Services unit
has potential to boost its business. Accelerated by the new large-
scale services with extensive responsibility, the units turnover
is expected to continue to grow in the fourth quarter and
throughout the financial period.
The primary growth motors for the Telecommunications unit is the
increasing demand for software development, integration and
testing services across a wider customer base, as well as growing
smartphone markets. The Testhouse services for smartphones are
expected to continue to grow strongly. Thus, the turnover of the
Telecommunications unit is expected to continue to grow strongly
at the beginning of 2007 and to continue to do so throughout the
financial year.
Judging from the business units order backlogs and tender
prospects, Tieto-Xs first quarter turnover is expected to clearly
exceed the turnover of the same period in 2006, and the 12-month
turnover is expected to significantly exceed that of the previous
year.
The company's relative profitability of business operations in the
first quarter of 2007 is expected to be on the same level as in
the first quarter of 2006. However, due to the one-off costs of
approximately EUR 0.55 million related to the change of the
company name and the revamping of the corporate image, operating
profit for the first quarter is expected to stay on the same level
as in 2006. The operating profit percentage for the financial year
is expected to be on the same level as in 2006, at least, and thus
the operating profit to clearly exceed that of the previous year.
BOARD OF DIRECTORS' PROPOSAL TO THE ANNUAL GENERAL MEETING
The parent company's disposable funds on 31 December 2006 were EUR
4.761.132,31.
The Board of Directors proposes that the net profit of the parent
company be disposed of as follows:
- a dividend to shareholders of EUR
0.27 per share EUR 2,004,399.00
- carried over in shareholders' equity EUR 338,199.07
__________________
2,342,598.07
The Board of Directors proposes that the dividend be paid on
shares entered in the shareholders' register kept by the Finnish
Central Securities Depository on the balancing date, 27 March
2007. The Board of Directors proposes that the dividend be paid on
4 April 2007.
TIETO-X GROUP
The figures in the income statement and balance sheet have been
consolidated. All group companies are included in the consolidated
figures. The original financial statement bulletin is in Finnish.
The English language release is a translation. The figures are
unaudited.
CONSOLIDATED PROFIT AND 1.1.- 1.1.-
LOSS ACCOUNT, K EURO 31.12.2006 31.12.2005 Change
Turnover 39,184 27,396 43.0 %
Operating costs - 35,243 - 24,890 41.6 %
OPERATING PROFIT 3,941 2,517 56.6 %
Financial income and - 174 101 - 273.3 %
expenses
Profit before extraordinary 3,766 2,618 43.9 %
items
Extraordinary income and 0 0 0
expenses
Profit before provisions 3,766 2,618 43.9 %
and taxes
Taxes - 855 - 713 20.0 %
NET PROFIT FOR THE PERIOD 2,911 1,905 52.8 %
CONSOLIDATED BALANCE SHEET, K
EUR
ASSETS 31.12.2006 31.12.2005
FIXED ASSETS
Property, plant and equipment 399 245
Goodwill 11,190 8,621
Intangible assets 450 473
Deferred tax claim 49 0
Long-term receivables 12 28
Other investments 19 30
FIXED ASSETS TOTAL 12,120 9,397
CURRENT ASSETS
Accounts receivable and other 9,945 6,446
receivables
Financial assets 695 1,993
Liquid assets 2,689 2,968
CURRENT ASSETS TOTAL 13,330 11,406
TOTAL ASSETS 25,449 20,804
SHAREHOLDERS' EQUITY AND 31.12.2006 31.12.2005
LIABILITIES
SHAREHOLDERS' EQUITY
Share capital 297 292
Premium fund 4,176 3,746
Share issue 0 0
Acquired own shares fund 0 0
Fair value and other reserves 315 108
Retained earnings 3,180 2,591
Net profit for the period 2,911 1,905
SHAREHOLDERS' EQUITY TOTAL 10,879 8,643
LIABILITIES
Long-term liabilities 4,733 2,960
Current liabilities 9,837 9,201
TOTAL LIABILITIES 14,570 12,161
SHAREHOLDERS' EQUITY AND 25,449 20,804
LIABILITIES TOTAL
CHANGE IN Share Prem Share Own Fair Retai Total
EQUITY hol ium issue shares value ned
K EURO ders fund fund and earnings
equity other
reser
ves
Shareholders' 291 3,704 28 0 46 3,905 7,975
equity on 1
January 2005
Transfer to 62 62
reserves
Share issue 1 43 - 28 16
Dividend - 1,314 - 1,314
Conversion 0 0
difference
Profit for 1,905 1,905
the period
Shareholders' 292 3,746 0 0 108 4,496 8,643
equity on 31
December 2005
Shareholders' 292 3,746 0 0 108 4,496 8,643
equity on 1
January 2006
Transfer to 207 207
reserves
Share issue 4 430 434
Dividend - 1,316 - 1,316
Conversion 0 0
difference
Profit for 2,911 2,911
the period
Shareholders' 297 4,176 0 0 315 6,091 10,879
equity on 31
December 2006
GROUP CASH FLOW 1.1.- 1.1.-
CALCULATION,
K EURO 31.12.2006 31.12.2005
Business operations
Profit before extraordinary 3,766 2,618
items
Depreciations and 415 411
amortisations
Adjustments 178 131
Change in net working - 785 - 1,077
capital
Fixed assets sales profit 1 - 10
Taxes - 1049 - 498
Cash flow from business 2,526 1,575
operations
Investments
Investments in fixed assets - 315 - 71
Transfer income from fixed 248 34
assets
Change in financial assets 1,298 1,989
Acquisition of subsidiaries - 5,186 - 4,182
Cash flow from investments - 3,954 - 2,230
total
Cash flow before financing - 1,429 - 655
FINANCING
Dividend paid - 1,316 - 1,314
Increase of long-term loans 3,000 3,000
Repayment of long-term debt - 658
Share issue 117 16
Converted certificates of 0 0
deposits
Change in short-term loan 7 - 9
receivables
Total cash flow from 1,150 1,692
financing
Change in funds - 279 1,037
Liquid assets at start of 2,968 1,931
period
Liquid assets at end of 2,689 2,968
period
CONSOLIDATED PROFIT AND LOSS ACCOUNT, QUARTERLY, K EURO
Q4/2006 Q3/2006 Q2/2006 Q1/2006 Q4/2005
1.10.06- 1.7.06- 1.4.06- 1.1.06- 1.10.05-
31.12.06 30.9.06 30.6.06 31.3.06 31.12.05
Turnover 12,141 8,862 9,166 9,015 9,064
Operating costs - 10,964 - 7,764 - 8,477 - 8,038 - 8,298
OPERATING PROFIT 1,178 1,098 689 977 766
Financial income and 0 - 94 - 32 -49 43
expenses
Profit before 1,178 1,004 656 928 809
provisions and taxes
Extraordinary items 0 0 0 0 0
Profit before 1,178 1,004 656 928 809
provisions and taxes
Taxes - 179 - 310 - 144 - 223 - 224
PROFIT FOR THE 999 695 513 705 585
PERIOD
SEGMENT REPORTING 1.1.-31.12.2006 1.1.-31.12.2005
Turnover by segment
Telecommunications 24,879 15,340
Systems Services 14,604 12,423
Group's internal - 299 - 376
eliminations
Administration 0 0
Turnover total 39,184 27,396
Operating profit by segment
Telecommunications 3,583 2,258
Systems Services 1,629 1,174
Administration - 1,271 - 914
Total operating profit 3,941 2,517
Operating profit of turnover 10.1 9.2
%
Interest and financial - 174 101
income
Profit before taxes 3,766 2,618
Taxes - 855 - 713
PROFIT FOR THE PERIOD 2,911 1,905
FINANCIAL RATIOS 1.1.-31.12.2006 1.1.-31.12.2005
Earnings per share, EUR 0.38 0.26
Equity per share, EUR 1.43 1.17
Operating cash flow per 0.33 0.21
share, EUR
Return on investment, % 28.2 26.1
Return on equity, % 29.8 22.9
Operating profit/turnover, % 10.1 9.2
OTHER INFORMATION 1.1.-31.12.2006 1.1.-31.12.2005
Average number of personnel 503 355
Personnel at the end of the 579 438
period
COMMITMENTS 31.12.2006 31.12.2005
Commitments for group
Rental security 148 85
(bank deposits), k Euro
Amounts payable for 1,398 712
leasing contracts, k Euro 1,369 1,444
Leasing commitments
TIETO-X PLC
THE BOARD OF DIRECTORS
INFORMATION MEETING
A briefing will be held for analysts and the press on 7 February
2007 at 10.30 a.m. at Kiasma, the museum of contemporary art,
Seminar Hall, Mannerheiminaukio 2, 00100 Helsinki.
THE ANNUAL GENERAL MEETING
The Annual General Meeting of Tieto-X shareholders will be held on
Thursday 22 March 2007 at 5.00 p.m. at Opus Business Park,
Auditorium Aida, Hitsaajankatu 20, 00810 Helsinki.
The Annual Report of Tieto-X Group for the period 1 January 31
December 2006 will be issued in March, week 12.
INTERIM REPORTS
The interim reports in 2007 will be published as follows:
- interim report 1-3/2007, Wednesday 25 April 2007
- interim report 1-6/2007, Wednesday 1 August 2007
- interim report 1-9/2007, Wednesday 24 October 2007
ADDITIONAL INFORMATION:
TIETO-X PLC
President and CEO, Kari Happonen
phone +358 (0)424 2231, +358 (0)400 700 761
kari.happonen@tieto-x.fi
DISTRIBUTION:
Helsinki Stock Exchange
Main media
Neither this press release nor any copy of it may be taken,
transmitted into or distributed in the United States of America or
its territories or possessions.