Itella 2012


Itella Information

We increase the efficiency of financial management processes and improve the overall profitability of financial management. Our solutions are based on productized best practices. Itella Information operates in ten European countries. We are the industry's largest operator in the Nordic countries.

Significant market trends identified during the year included the importance of managing working capital, risk management, the trade imbalance, and the aging of the population. All of these trends enable our growth.

We are promoting the spread of electronic invoicing in Europe. According to estimates, more than half of invoices sent to consumers will be electronic by 2020; in other sectors, the 50 percent threshold will be crossed as early as in 2017. The experiences we have collected from different parts of Europe clearly indicate the reality of the change.

According to a study we conducted during the past year, the principal reasons for the initial acceptance of electronic invoices are the additional charges set on paper invoices and electronic invoices being the only available option. The most frequent users of electronic invoices are 25-to–34-year-olds, clerical workers, and high-income individuals. Factors such as ease of use and environmental concerns also impact decisions to adopt electronic invoices, as do banks' offers displayed in online banking services and branch offices.

We make good use of our own financial process competence

We bought Itella's payroll services from Silta Oy and transferred these operations to Itella Information on January 1, 2013. Given that our Alligator concept is the most extensive financial process service package in its industry, transferring payroll services under our own control was sensible. As a result of the Silta transaction, 40 employees transferred from Silta to Itella.

In the summer, the operational management of Itella Information in Germany bought Itella's local printing business from Itella. The new company, which goes by the name docsellent GmbH, will be Itella's printing partner in Germany. As a result of the transaction, which was carried out as a management buyout, some 100 people transferred from Itella to docsellent GmbH. The underlying causes of the deal were the previously recognized need for change in the German print business as well as the fact that the printing business, in general, is a highly local business. Different countries have strictly defined production requirements, meaning that differentiation and the delivery of added value is easier through an international partnership network. Our remaining offices in Germany are located in Hanover and Halle (Saale), and they employ approximately 120 financial management experts and production workers.

We support our customers in invoicing services

In April, we made an agreement on the renewal of the invoicing services of A-lehdet. A-lehdet, which is Finland's third-largest magazine publishing house, is in the process of renewing the subscription system of its consumer sales division. We are improving the company's invoicing department's customer communications with a multi-channel solution that simultaneously promotes the marketing and sales of magazines. The goal of the new subscription system for consumer sales is to increase the efficiency of processes while strengthening a customer-oriented approach and flexibility.

In June, we signed a significant service agreement with the State Treasury. The service agreement covers the transmission of invoices dispatched by the State of Finland. The agreement's importance for us lies not only its monetary value (EUR 8 million), but also in its term which – at seven years – is longer than before. For the State Treasury, the agreement means the smooth continuation of the electronification of the State's invoice transmissions which, in turn, translates into operational and financial savings. The ultimate beneficiary is the Finnish taxpayer.

In Finland, we increased the efficiency of operations by way of statutory labor negotiations in the e-Services business unit. The negotiations – held for the purposes of reorganization requirements – specified the need for personnel reductions to include 14 persons.

Key figures 2012

  • Net sales EUR 270.1 million
  • Operating result (non-IFRS)* EUR 15.6 million
  • Operating result EUR -1.1 million
  • Personnel on December 31, 2012: 2,168

*) Non-IFRS = excluding non-recurring items


  • Printing services
  • E-invoicing operator
  • Comprehensive outsourcing of financial management
  • Cash-flow automation
  • Electronification of order-supply chains

Countries of operation

  • Denmark
  • Estonia
  • Finland
  • Germany
  • Latvia
  • Lithuania
  • Norway
  • Poland
  • Slovakia
  • Sweden
  • Presence almost everywhere in Europe and North America through the partnership network


Number 1 value provider in financial processes in Europe.


Optimizing financial transactional processes.

Financial indicators

  • 140 million electronic transactions per year
  • 10,000 customers
  • more than 30 million processed invoices every year
  • Software users in over 50 countries

Net sales


Sales invoices (outbound documents)

Purchase invoices (inbound documents)