DGAP-News

GFT Technologies SE: Strong first quarter for GFT - significant revenue growth, earnings more than doubled

DGAP-News: GFT Technologies SE / Key word(s): Quarterly / Interim Statement GFT Technologies SE: Strong first quarter for GFT - significant revenue growth, earnings more than doubled 12.05.2021 / 07:30 The issuer is solely responsible for the content of this announcement. Strong first quarter for GFT - significant revenue growth, earnings more than doubled

• Significant increase in revenue of 10 percent and in EBT of 132 percent
• Broad demand for digitisation solutions
• Strong orders received indicate further high growth
• Growth driven by all segments, sectors and client groups
• Revenue Insurance sector +25 percent, Industry & Others +14 percent

Stuttgart, 12 May 2021 - GFT Technologies SE (GFT) can look back on a very successful first quarter 2021 with significant growth in revenue and earnings. There was a year-on-year increase in revenue of 10 percent to EUR 123.92 million, while pre-tax earnings (EBT) rose by as much as 132 percent to EUR 7.01 million. Strong orders received also indicate consistently high growth for the following quarters.

Marika Lulay, CEO of GFT states: "In the first quarter, we recorded significant revenue growth compared to the same quarter last year - and more than doubled our pre-tax earnings. In the insurance sector, we achieved disproportionately strong growth of 25 percent and in our industrial business growth of 14 percent. Our clients - both existing and new clients in all sectors - are increasingly asking us for digitisation solutions. And our orders received indicate that this trend is set to continue."

According to Lulay, the latest business figures demonstrate the success of the company's strategy: "The groundwork we put in place over the past few years is now paying off in full. A lot of companies are launching large-scale, long-term digitisation projects that rely on cutting-edge technologies such as cloud, artificial intelligence, DLT and data analytics. We have built up substantial know-how in these fields over the past few years. Combined with our many years of expertise in our clients' markets, we are a very attractive partner for the implementation of these projects."