DGAP-News GFT Technologies SE: GFT exceeds guidance and expects further growth and significantly improved earnings in 2021
DGAP-News: GFT Technologies SE / Key word(s): Preliminary Results/Forecast
Preliminary figures for 2020
- 2020 figures exceed guidance; revenue of EUR 445 million and EBT of EUR 14.11 million
- Dynamic revenue growth without top-2 clients1) of 14 percent
- Sector, client and geographical diversification successfully continued: +23 percent in insurance business; expansion in Asia-Pacific with new clients
- +44 percent with fast-growing technologies2), +86 percent with cloud solutions
- Outlook 2021: further revenue growth of 8 percent, increase in earnings of 70 percent
- Dividend proposal of EUR 0.20, payout ratio of 53 percent
Stuttgart, 4 March 2021 - GFT Technologies SE (GFT) exceeded its revenue guidance of 18 June 2020 for the year 2020, and even significantly surpassed its earnings guidance. The preliminary results for the financial year 2020 show an increase in revenue of 4 percent to EUR 444.85 million (guidance EUR 440 million). EBT amounted to EUR 14.11 million and thus exceeded guidance of EUR 13 million. Adjusted EBITDA of EUR 42.52 million was in line with guidance (EUR 42 million).
The diversification strategy was successfully continued and resulted, among other things, in strong growth in the company's insurance business: at 23 percent, it made a disproportionately strong contribution to overall growth and reached a total revenue share of 14 percent. As a result, the company has achieved the target it set before the pandemic for this year. GFT also succeeded in broadening its global footprint: the Asia-Pacific region was expanded with the opening of a new delivery centre in Vietnam and has already established itself as a growth driver with successful projects. Revenue from fast-growing technologies grew by 44 percent and reached a total revenue share of 42 percent.