GFT Technologies AG / Key word(s): Profit Warning 28.10.2011 08:15 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- GFT adapts revenue and earnings targets for 2011 to uncertain market environment In the third quarter of the current financial year, the GFT Group was not able to continue its dynamic development of the first six months as expected. The European debt crisis and resulting financial market uncertainties led the financial sector to postpone investments which was noticeable above all from September onwards. This had a negative impact on revenues in Corporate and Investment Banking in the last month of the third quarter and resulted in a burden on the operating result of the Services division. As a consequence, earnings contributed by this segment fell short of expectations. Falling financial sector demand has also dimmed the outlook for the fourth quarter. For the first nine months of 2011, preliminary pre-tax earnings (EBT) of the GFT Group were slightly up on the previous year at EUR 9.05 million (prev. year: EUR 8.76 million). Preliminary EBT in the third quarter amounted to EUR 3.53 million (prev. year: EUR 4.11 million), corresponding to an increase over the second quarter (EUR 3.50 million) and first quarter (EUR 2.02 million). Compared to the same period last year, total preliminary revenue of the GFT Group in the first nine months of 2011 grew by 16 percent to EUR 207.87 million (prev. year: EUR 178.74 million). This was due to the positive development of revenue in the Resourcing division. In the third quarter of 2011, the Services division posted a decline in revenue in Germany, the UK and the USA, where demand for IT solutions for Corporate and Investment Banking had fallen. In view of the volatile development of the financial markets and ongoing economic uncertainties, demand from the financial sector is likely to remain subdued in the fourth quarter. Against this backdrop, the GFT Group no longer expects to reach its previous forecast for earnings before taxes of EUR 13 million on revenue of EUR 275 million. The Executive Board has therefore issued new guidance for 2011 as a whole and now expects earnings before taxes to reach EUR 11 million on revenue of EUR 270 million in the financial year 2011. Contact: Andrea Wlcek Director Global Marketing, Media & Investor Relations GFT Technologies AG FilderhauptstraÃe 142 70599 Stuttgart Germany T +49 711 62042-440 F +49 711 62042-301 andrea.wlcek@gft.com www.gft.com 28.10.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: GFT Technologies AG Filderhauptstr. 142 70599 Stuttgart Germany Phone: +49 (0)711/62042-0 Fax: +49 (0)711/62042-301 E-mail: Investor-Relations@gft.com Internet: www.gft.com ISIN: DE0005800601 WKN: 580060 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: GFT Technologies AG: GFT adapts revenue and earnings targets for 2011 to uncertain market environment
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