Gofore Plc

Gofore Plc's Business Review 1–31 October 2020: Strong net sales growth

GOFORE PLC COMPANY ANNOUNCEMENT 10 NOVEMBER 2020 AT 10.45

Gofore Plc's Business Review 1–31 October 2020: Strong net sales growth

Gofore’s net sales in October 2020 were EUR 8.7 million (2019: EUR 6.6 million). The Group had a total of 718  employees (580 employees) at the end of the period. 

CEO Mikael Nylund comments:

“In October, our business developed in line with September. Net sales grew by more than 30% from the corresponding period in the previous year, even with one less working day in October this year. Our billing rate continued to improve, and growth was also achieved through collaboration with our partners, with substantial growth in subcontracting. 

There were positive developments on the customer front. We bid for technology consulting and project management services for the Finnish Broadcasting Company (Yleisradio Oy) in a public tender. We were selected as the primary service provider for both areas. As a Group, we performed well. The estimated value of the procurement is EUR 3 million over an agreement period of four years.  

With DigiFinland, which develops public digital services, we have agreed on the delivery of usability testing of information systems and services for the next four years (an agreement period 2 + 1 + 1 years). We are excited to be involved in ensuring that services which all Finns will become familiar with are both easy to use and fit for purpose. The value of the agreement over the agreement period is approximately EUR 0.5 million.

We are also involved in the GovCloud cloud project for the government of Iceland, which aims to promote the use of public cloud services in public administration. In the project, we consult in cloud strategy and technology, utilising the extensive experience we have gained in Finland in similar projects. We hope that, correspondingly, we can also utilise the experience we have gained from abroad in the development of the Finnish digital society”.
   
In the Business Reviews, in addition to the month's net sales, the net sales of the corresponding month in the previous year is published. The reviews also include key indicators that further facilitate transparency of the company's growth strategy and comparisons between different periods. Reporting has been supplemented with the Full Time Equivalent (FTE) figure as well as subcontracting FTEs. Additionally, in the monthly Business Reviews for the quarter ending in March and September, the company publishes the Group's adjusted EBITA and adjusted EBITA-% as well as corresponding figures for the same period in the previous year.