Financial facts. Sales by Service Line. Customer sales in 2014: EUR million EBIT margin excl. one-off items *) : 9.9% Tieto s market position:

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1 Tieto Corporation

2 Financial facts Customer sales in 214: EUR million EBIT margin excl. one-off items *) : 9.9% Sales by Service Line Tieto s market position: Market leader in Finland Among top 3 in Sweden Among top 7 in Norway Managed Services 34% Consulting and System Integration 25% Industry Products 26% Product Development Services 15% Sales by industry group Financial Services 22% EBIT by Service Line *) Manufacturing, Retail and Logistics 2% Public, Healthcare and Welfare 27% Telecom, Media and Energy 16% Product Development Services 15% Managed Services 23% Consulting and System Integration 23% Industry Products 42% Product Development Services, 13% *) Excluding capital gains, impairments and restructuring costs 2

3 Key ratios MEUR Net sales, EUR million % MEUR % EBIT excl. one-off items, % 2 Cash flow % of net sales MEUR Capital expenditure % of net sales % Net debt / EBITDA

4 Financial objectives 1% EBIT margin **) by 216 1% 5% 6.4% 6.4% 4.2% 5.4% 7.6% 3.5% 8.8% 9.9% 5.3% 4.% Target 216 Aim to increase dividends annually in absolute terms (minimum 5% of net result) Net debt / EBITDA 1.5 as an upper limit in the long run **) Reported % 3% 25% 2% 15% 1% 5% % EBIT margin excl. one-off items EBIT margin +39% +8% Dividend, EUR million Payout ratio, % % +7% Additional dividend, EUR million *excluding additional dividend +14% Net Debt/EBITDA +48% * -.4 4

5 Market opportunity

6 Nordic IT services market expected to grow by 2% IT market affected by economic outlook Tieto expects the Nordic IT services market to grow by around 2% in 215 Positive outlook in the Swedish economy while the Finnish economy remains sluggish IT services market strongest in Sweden Long-term growth (CAGR ) in cloud services around 3% market size still small 5% 4% 3% 2% 1% % -1% GDP growth, % e 215e Service Project services Application management Demand and economic cycles More volatile Less volatile short-term -2% Finland Sweden Norway Nordic region Infrastructure outsourcing Less volatile, even positive impact during downturn Source: Nordea Markets, Economic Outlook, March 215 6

7 Business transformation drives new services growth 2 5% (CAGR) ~2% Customer Experience Management Emerging services Over 2% (CAGR) ~5% Industrial Internet >4% Lifecare Traditional services Over -5% (CAGR) ~3% Market growth (CAGR) Cloud Tieto s growth businesses IT becoming a strategic asset End-customers expectations rising faster than enterprises can evolve their business models Digital experience becoming an absolute requirement resulting in a need to re-engineer businesses and IT 7

8 Well positioned to become the preferred digitalization partner Customer Expercience Management Good market momentum and fit with Tieto services and competencies Investments in offering development, with focus on industry-specific concepts, and recruitments to accelerate growth Industrial Internet Early-phase investment, with pilots ongoing, e.g. in manufacturing and telecom sector Focus on offerings and productization Lifecare Double-digit growth continued in Q1 Strong development in all core countries New application launches continue in 215 Cloud services 132% growth (y-on-y) in Q1 Tieto awarded high-level security certificate meeting also the requirements set by Finnish public sector customers 8

9 We enable enterprises to reinvent business models through cloud services Public cloud Tieto Cloud Server Government Cloud Pay-asyou-go / free services Flexible and alternative business models Private / enterprise cloud Tieto Productivity Cloud SAP Dynamic Landscape Google Archiving as a Service Lifecare as a Service Mill-in-a-Box SmartUtility Traditional - on premise infra and applications Modernization of infrastructure and applications

10 Strategy execution

11 The strategy (212) continues to build competitiveness Strategy Choices Preferred business and IT transformation partner for enterprises and the public sector Leading full lifecycle IT services player in the Nordics extending to Eastern Europe PDS global leadership in selected segments Ambition 216 Nordic market leadership in IT services Consistent growth above market average Sustainable 1% EBIT Industries Services Markets Reinforcing industry expertise Building on our long customer relationships and customer core process understanding Expanding to provide full lifecycle IT services Investments in Consulting and System Integration capabilities Focusing on markets where we can be in TOP 3 Enterprises and the public sector in the Nordics as a current core market, building on our strengths in Finland and Sweden Product Development pursues global opportunities 11

12 Accelerating growth in focus Expand markets Execute the structure and efficiency 214 Reorienting for growth Accelerate growth portfolio Expand proven growth businesses beyond the Nordics New growth areas, e.g. industry-specific software products Accelerate customer renewal through digitalization Scale growth businesses CEM, Industrial Internet, MS cloud, industry-specific software products Accelerate modernization in Application Management and Infrastructure services Build the foundation 12

13 Focus on profitable growth High-growth offerings TSR Total Shareholder Return Growth Profit improvement Cloud Application and infra modernization Selected industry products New customers and markets Cost structure Business mix Quality Offshoring and automation Healthy operative cash flow Up by 118% Median for the reference group, comprising selected IT services companies: up by 83% Steady performance In progress, potential Cash flow Attractive dividend yield Optimal capital structure 13

14 Value creation

15 Our investments are focused on growth bets, cloud services and modernization Profitdrivers Competitive cost structure Improved productivity and utilization rate ambition Business mix More focused operations Restructuring of non-profitable businesses Full lifecycle IT services More integrated and efficient use of assets and capabilities Quality Less downtime and project overruns Offshoring Managed services automation

16 Key drivers Bridge to achieve the 1% EBIT margin 1% 8.8% 213 EBIT excl. one-off items Industry Products CSI MS PDS 216 EBIT excl. oneoff items Annual restructuring on average 216 Industry Products Software suite Scalability of global products CSI AM modernization Business mix incl. CEM Quality Managed Services Cloud Automation Improved productivity PDS Global delivery Expanding customer base Salary inflation around 3%: annual impact of around EUR 25 million Offshoring gradually increasing: 1%-point increase in offshoring = EUR 5 million impact on cost base 16

17 IT service businesses progressing towards longer-term ambition Managed Services Tieto target profitability Consulting and System Integration Tieto target profitability Average market growth Industry Products Average market growth Product Development Services Tieto target profitability Tieto target profitability Average market growth Note: 216 describes the ambition set in 212 (excl one-off items) Average market growth

18 Offshoring gradually increasing Offshore rate at 46% Employees % 2 Personnel Offshore % Personnel 4% 3%6% 5% 14% 14% % Onshore Czech India Latvia Poland China Other offshore 4 2 1%-point increase in offshoring = EUR 5 million impact on cost base Poland Czech Republic China Primary expertise of each centre India Philippines Czech Managed Services India CSI & Industry Products China Product Development Services Philippines Product Development Services Poland Product Development Services 18

19 Q1 215 key figures Net sales EUR 366 (387) million, -5.5%, organic growth in local currency -3.2% Currency EUR -11 million In IT services, organic growth in local currencies.5% EBIT EBIT EUR 13.9 (34.) million, 3.8% (8.8%) EUR 16.8 million restructuring costs Currency impact EUR 4 million EBIT excluding one-off items* EUR 3.7 (34.5) million, 8.4% (8.9%) Order backlog Order backlog EUR 1 819(1 582) million Total Contract Value EUR 43 (42) million Book-to-bill 1.2 (1.) Earnings per share EPS EUR.12 (.34) EPS EUR.31 (.34), excluding one-off items* MEUR % Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Net of divestement and acquisitions Customer sales adjusted EBIT, % excluding one-off items* *) Excluding capital gains, impairments and restructuring costs 19

20 Managed Services Customer sales EUR 126 (127) million, down by 1% Organic growth in local currencies 2% MEUR % 1 EBIT EBIT EUR -8.3 (11.1) million, -6.6% (8.8) EBIT excluding one-off items* EUR 4.6 (11.) million, 3.6% (8.4) Q1 highlights Cloud services drive growth Q1 sales up by 132% vs 214 Represents 12% of MS sales Temporary transition costs related to automation programme strain profitability in H1 Service competitiveness and automation programme expected to improve profitability in H2 New large contracts during the past quarters expected to support sales growth in H Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Net of divestement and acquisitions Customer sales adjusted EBIT, % excluding one-off items* 4 2 *) Excluding capital gains, impairments and restructuring costs 2

21 Consulting and System Integration Customer sales EUR 99 (1) million, down by 1% Organic growth in local currencies 1% EBIT EBIT EUR 8.2 (11.1) million, 8.3% (11.1) EBIT excluding one-off items* EUR 1.8 (11.2) million, 1.8% (11.2) MEUR % Q1 highlights Good development in industry consulting, ERPbased solutions and Customer Experience Management (CEM) services Reduced revenues in traditional application management as anticipated Offering development, mainly in CEM, and recruitments related to service renewal accelerated in H1 New large contracts during the past quarters expected to support sales growth in H Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Net of divestement and acquisitions Customer sales adjusted EBIT, % excluding one-off items* *) Excluding capital gains, impairments and restructuring costs 21

22 Industry Products Customer sales EUR 94 (1) million, down by 6% Organic growth in local currencies -1% MEUR % 25 EBIT EBIT EUR 12.6 (15.5) million, 13.3% (15.4) EBIT excluding one-off items* EUR 12.7 (15.4) million, 13.4% (15.4) Q1 highlights Double-digit growth in healthcare and welfare sector Demand in oil & gas remained weak Financial Services sales somewhat down due to challenges in Eastern Europe and delays in new projects Increased investments in offering development in H1, mainly in Lifecare and Industrial Internet Additionally, negative currency changes and transitions to offshore in FS affected profitability H2 profitability expected to be seasonally stronger Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Net of divestement and acquisitions Customer sales adjusted EBIT, % excluding one-off items* 1 5 *) Excluding capital gains, impairments and restructuring costs 22

23 Product Development Services Customer sales EUR 47 (6) million, down by 22% Organic growth in local currencies -24% EBIT EBIT EUR 6.5 (1.1) million, 14.% (1.9) EBIT excluding one-off items* EUR 6.5 (1.6) million, 14.% (2.6) Q1 highlights Sales decline due to insourcing by one key customer Contract ended in 214: 5% of Group sales Cost base aligned in parallel with the reduction in business volumes Sales for several key customers growing and openings in new verticals, e.g. automotive New wins include Continental Operating profit supported by certain temporary commercial terms Normalized operating margin below 1% Strong profitability outside the insourced business due to efficiency measures MEUR *) Excluding capital gains, impairments and restructuring costs Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Net of divestement and acquisitions Customer sales adjusted EBIT, % excluding one-off items* 2 %

24 Performance drivers 215 Performance drivers in IT services Sales growth H1 Impact on profitability 1) H2 Impact on profitability 1) IT services in 215 Sales growth in line with the market Gross savings related to automation and industrialization EUR 3 million Increase in offering development Costs for new hires in growth businesses Performance drivers for Product Development Services MS automation programme Cost savings Currency fluctuations n/a Sales decline related to insourcing decision by one key customer Expansion of customer base and new customer wins Adjustments in cost base Temporary commercial terms related to the insourcing decision by one key customer 1) Illustrative, in comparison with the previous year 24

25 Capital structure addressed dividends increasing while maintaining flexibility to invest in growth Proposed dividend EUR 1. (.9) per share, up by 11% An additional dividend of EUR.3 is proposed due to strong cash flow and targeted capital structure Dividend yield of 6%, or close to 5% excluding additional dividend Dividend/share, EUR *) Additional dividend of EUR.3.3* Net debt/ebitda to be maintained below 1.5 in the long run Strong balance sheet offers strategic flexibility for growth, incl. M&A Net debt/ebitda.2 Dividends and growth investments, including M&A

26 Tieto s ambition in 216 Strong dividend payer Total Shareholder Return growth above industry average Growth above market average driven by high-growth offerings compensating for gradual legacy decline EBIT margin of 1% achieved, driven by profitable growth, business mix change and competitive cost structure 26

27

28 Appendix

29 Top 1 customers 215 City of Stockholm Ericsson Finnish Tax Administration IF Insurance Kesko Nordea Nokia OP-Pohjola Group S-Group TeliaSonera 29

30 Sales by Service Line IT services PDS not included Financial Services Public, Healthcare and Welfare 34% 45% Managed Services CSI 38% 38% Managed Services CSI 21% Industry Producuts 24% Industry Products Manufacturing, Retail and Logistics Telecom, Media and Energy 1% 19% 42% 48% Managed Services CSI 38% Managed Services CSI Industry Products 43% Industry Products 3

31 Sales by Industry Group IT services PDS not included 23% 8% 29% 4% Industry Products Financial Services Public, Healthcare & Welfare Manufacturing, Retail & Logistics Telecom, Media & Energy 26% 18% CSI Financial Services Public, Healthcare & Welfare 31% 9% 3% Managed Services Financial Services Public, Healthcare & Welfare Manufacturing, Retail & Logistics 31% 25% Manufacturing, Retail & Logistics Telecom, Media & Energy 3% Telecom, Media & Energy 31

32 Sales by Service Line 15% 26% 25% 34% Tieto Managed Services Consulting and System Integration Industry Products Product Development Services 2% 4% Sweden Managed Services Consulting and System Integration 1% Finland 15% Managed Services 38% Consulting and System Integration 25% 15% Industry Products Product Development Services 37% Industry Products Product Development Services 32

33 Sales by Industry Group 15% 16% 27% 22% 2% Tieto Financial Services Manufacturing, Retail and Logistics Public, Healthcare and Welfare Telecom, Media and Energy Product Development Services 2% 21% Sweden Financial Services Manufacturing, Retail and Logistics 1% 9% 22% Finland Financial Services Manufacturing, Retail and Logistics 13% 36% 1% Public, Healthcare and Welfare Telecom, Media and Energy Product Development Services Public, Healthcare and Welfare 27% 32% Telecom, Media and Energy Product Development Services 33

34 Sales by Industry Tieto 15% 3% 4% 9% 16% 11% 11% 11% 5% 6% 9% Insurance Banking Forest Manufacturing Retail and Logistics Healthcare and Welfare Public Sector Telecom and Media Oil and Gas Energy utilities PDS 34

35 All information in this material is for informational purposes only. The opinions and viewpoints regarding, inter alia, the future of the company and markets are of Tieto and may not actually materialize. This information should not be construed as an investment recommendation or investment advice. All information expressed herein is subject to change without notice. Neither Tieto nor its officers nor employees shall have any liability for any loss sustained by anyone who has relied on the information provided. All information in this material is for informational purposes only. The opinions and viewpoints regarding, inter alia, the future of the company and markets are of Tieto and may not actually materialize. This information should not be construed as an investment recommendation or investment advice. All information expressed herein is subject to change without notice. Neither Tieto nor its officers nor employees shall have any liability for any loss sustained by anyone who has relied on the information provided.

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