DGAP-News

GFT Technologies SE: GFT Group continues its dynamic trend in Q3 2015 and upgrades full-year guidance

DGAP-News: GFT Technologies SE / Key word(s): Quarter Results
GFT Technologies SE: GFT Group continues its dynamic trend in Q3 2015
and upgrades full-year guidance

12.11.2015 / 07:05

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GFT Group continues its dynamic trend in Q3 2015 and upgrades full-year
guidance

- Consolidated revenue up 42 per cent to EUR 271.48 million in the first
nine months

- Earnings (EBITDA) improved by 38 per cent to EUR 31.30 million

- Full-year guidance for revenue and earnings upgraded

Stuttgart, 12 November 2015 - In the third quarter of 2015, the GFT Group
continued its dynamic development of the first half-year, achieving strong
growth in revenue and earnings over the first nine months of 2015. The main
driver of growth was strong demand for IT solutions to implement regulatory
compliance programmes in the finance sector. The trend towards the further
digitisation of business processes, especially among retail banks, also
helped boost growth. Due to the positive development of the operating
business, full-year guidance for revenue was increased from EUR 362 million
to EUR 368 million, with EBITDA and EBT increasing by EUR 1 million each to
EUR 44 million and EUR 31 million, respectively.

Organic revenue growth of 22 per cent

Compared to the same period last year, consolidated revenue rose by 42 per
cent to EUR 271.48 million in the first nine months of 2015 (prev. year:
EUR 191.47 million). This positive revenue trend resulted from the strong
organic growth of the company's IT solutions for the financial sector, as
well as from the acquisition of the UK-based company Rule Financial Ltd.
(Rule) in June 2014 and the Spanish company Adesis Netlife S.L. (Adesis) in
July 2015. Adjusted for revenue contributed by the former Rule companies of
EUR 58.79 million (prev. year: EUR 18.75 million) and by Adesis of EUR 2.81
million (prev. year: EUR 0.00 million), the GFT Group achieved organic
growth of 22 per cent. In the UK (the GFT Group's largest sales market),
revenue rose by 74 per cent to EUR 121.43 million (prev. year: EUR 69.83
million). Bolstered by the Rule acquisition, the GFT Group also posted
strong revenue growth of 64 per cent to EUR 27.53 million in the USA (prev.
year: EUR 16.81 million). Revenue generated from clients in Spain rose by
46 per cent to EUR 32.01 million (prev. year: EUR 21.99 million), aided by
the country's continued economic recovery and a revitalised banking sector,
which is one of Europe's most advanced in terms of digitisation.