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GFT TECHNOLOGIES SE

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

10/21/2021 | 05:14am EST

DGAP-Ad-hoc: GFT Technologies SE / Key word(s): Change in Forecast/Forecast GFT Technologies SE upgrades its earnings guidance for 2021 once again and announces outlook for 2022 21-Oct-2021 / 11:13 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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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.

Your contacts:

Press                             Investors 
Beatrice Martin-Vignerte          Karl Kompe 
Group Public Relations            Investor Relations 
GFT Technologies SE               GFT Technologies SE 
Schelmenwasenstraße 34            Schelmenwasenstraße 34 
70567 Stuttgart                   70567 Stuttgart 
T +49 711 62042-106               T +49 711 62042-323 
Beatrice.Martin-Vignerte@gft.com  Karl.Kompe@gft.com 
www.gft.com                       www.gft.com 

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21-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language:     English 
Company:      GFT Technologies SE 
              Schelmenwasenstraße 34 
              70567 Stuttgart 
              Germany 
Phone:        +49 (0)711/62042-0 
Fax:          +49 (0)711/62042-301 
E-mail:       ir@gft.com 
Internet:     www.gft.com 
ISIN:         DE0005800601 
WKN:          580060 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1242510 
 
End of Announcement  DGAP News Service 
=------------ 

1242510 21-Oct-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1242510&application_name=news

(END) Dow Jones Newswires

October 21, 2021 05:13 ET (09:13 GMT)

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Sales 2021 560 M 634 M 634 M
Net income 2021 29,9 M 33,9 M 33,9 M
Net Debt 2021 26,6 M 30,1 M 30,1 M
P/E ratio 2021 33,7x
Yield 2021 0,96%
Capitalization 1 008 M 1 138 M 1 141 M
EV / Sales 2021 1,85x
EV / Sales 2022 1,52x
Nbr of Employees 7 286
Free-Float 64,0%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 38,30 €
Average target price 48,37 €
Spread / Average Target 26,3%
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Managers and Directors
Marika Anneliese R. Lulay CEO, MD & Member-Administrative Board
Jochen Ruetz CFO, Member-Administrative Board & MD
Ulrich Dietz Chairman-Administrative Board
Andrew Rossiter Head-Technology Services
Joan-Carles Fonoll Chief Operating Officer
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