GFT Technologies SE upgrades its earnings guidance for 2021 once again and announces outlook for 2022

21. October 2021, 11:13h CET/CEST

Ad hoc disclosure pursuant to Article 17 MAR

GFT Technologies SE upgrades its earnings guidance for 2021 once again and announces outlook for 2022

GFT is set to reach an EBT for the financial year 2021 which lies well above its previous guidance.
 

This is due to structurally higher demand for new high-margin digitalisation solutions. As a result, orders received are above expectations and this is enabling GFT to focus on higher-margin projects. Thanks to active cost management, the increase in administrative expenses is also lower than planned.

GFT is therefore upgrading its guidance for the financial year 2021 once again. It now expects revenue of EUR 560 million (previously EUR 550 million), adjusted EBITDA of EUR 65 million (previously EUR 62 million) and significant growth in EBT to EUR 40 million (previously EUR 36 million).

For 2022, GFT anticipates further dynamic market growth with a very positive business development of both demand and margins, which is above market expectations.

GFT forecasts revenue growth for 2022 of around 20 percent compared to 2021. It also expects an adjusted EBITDA to revenue ratio of around 11.5 percent and an EBT margin of around 7.5 percent.

As previously announced, the results for the first nine months of 2021 will be published on 11 November 2021.

Explanations of the key financial figures (EBT and adjusted EBITDA) used in this ad hoc disclosure are to be found on the GFT website at www.gft.com/performancemeasures.