DGAP-News: GFT Technologies AG / Key word(s): Quarter Results
GFT Technologies AG: GFT Group continues dynamic growth in first
quarter of 2015 - significant increase in revenue and earnings
13.05.2015 / 07:35
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GFT Group continues dynamic growth in first quarter of 2015 - significant
increase in revenue and earnings
- Consolidated revenue up 42 percent to EUR 110.28 million
- Earnings (EBITDA) raised by 61 percent to EUR 9.80 million
- GFT division generates revenue growth of 58 percent
The GFT Group continued its positive development of the financial year 2014
in the first quarter of 2015 and generated further strong growth in revenue
and earnings. The implementation of compliance requirements and the trend
towards digitising business processes in the banking industry were the main
drivers in the field of IT consulting and services.
Stuttgart, 13 May 2015 - In the first three months of 2015, the GFT Group's
revenue rose by 42 percent to EUR 110.28 million (prev. year: EUR 77.72
million). This dynamic revenue trend resulted mainly from strong organic
growth in the GFT division, as well as from the acquisition of the UK-based
company Rule Financial Ltd. in June 2014. Due to this acquisition, revenue
in the UK and USA more than doubled to EUR 43.01 million (prev. year: EUR
20.63 million) and EUR 9.01 million (prev. year: EUR 3.94 million),
respectively. The main growth driver in both countries was the demand for
compliance solutions in the investment banking sector. Earnings before
interest, taxes, depreciation and amortisation (EBITDA) improved by 61
percent to EUR 9.80 million in the first quarter (prev. year: EUR 6.08
million). There was also a sharp rise in pre-tax earnings (EBT) of 47
percent to EUR 7.06 million (prev. year: EUR 4.81 million). Earnings after
taxes (EAT) amounted to EUR 4.84 million (prev. year: EUR 3.25 million) and
raised earnings per share to EUR 0.18 (prev. year: EUR 0.12).
Dedicated to delivering IT services for the finance sector, the GFT
division raised revenue by 58 percent to EUR 88.51 million in the first
quarter (prev. year: EUR 55.99 million). Adjusted for the revenue
contribution of Rule Financial (integrated into this division) of EUR 19.70
million (prev. year: EUR 0.00 million), GFT generated organic growth of 23
percent. The GFT segment's contribution to earnings (EBT) improved by 46
percent to EUR 7.43 million (prev. year: EUR 5.09 million), representing an
operating margin of 8.4 percent (prev. year: 9.1 percent).
The emagine division specialises in the staffing of technology projects and
generated revenue of EUR 21.76 million in the reporting period - slightly
up on the prior-year figure of EUR 21.72 million. EBT in this segment more
than doubled to EUR 0.17 million (prev. year: EUR 0.07 million). The
operating margin rose to 0.8 percent (prev. year: 0.3 percent).
"Our clients have to cope with rising compliance requirements while at the
same time fending off new, innovative market players who are increasingly
occupying areas of their value chain," says Ulrich Dietz, CEO of GFT
Technologies AG. "In our 'Digital Banking Lab' at the CeBIT fair, our
solutions for the bank of the future were very warmly received. We were
able to clearly demonstrate how banks can make their business models more
customer-centred by further digitising their processes."
Headcount grows to around 3,400
As of 31 March 2015, the GFT Group had 3,395 full-time employees -
representing growth of 51 percent year on year (31 March 2014: 2,254). The
increase is mainly attributable to the acquisition of Rule Financial (plus
662) as well as to new staff hired to handle the high level of capacity
utilisation, especially at the nearshore development centres in Spain (plus
254 to 1,398) and Brazil (plus 111 to 321).
Additional key data
As of 31 March 2015, cash, cash equivalents and securities amounted to EUR
32.60 million and were thus EUR 5.65 million below the year-end figure (31
December 2014: EUR 38.25 million). The cash outflow resulted mainly from an
increase in trade receivables. Equity as of 31 March 2015 was up EUR 13.86
million compared to the last balance sheet date (31 December 2014: EUR
100.41 million). Total assets rose by EUR 25.37 million to EUR 327.02
million as of 31 March 2015 (31 December 2014: EUR 301.65 million). As a
result of the increase in the balance sheet total and change in equity as
of 31 March 2015, the equity ratio rose by 2 percentage points to 35
percent (31 December 2014: 33 percent).
Detailed financial figures are available in the Investor Relations section
of the GFT website at http://www.gft.com/ir.
Key figures (deviations possible due to rounding differences)
<pre>
IFRS figures (not audited) 01.01.-31.03.2015 01.01.-31.03.2014
in EUR million
Revenue 110.28 77.72
EBITDA 9.80 6.08
EBIT 7.43 4.99
Earnings before taxes (EBT) 7.06 4.81
Net income for the period 4.84 3.25
Earnings/share acc. to IAS 33 in EUR 0.18 0.12
Equity ratio in percent 35 33
(31.03.2015) (31.12.2014)
Employees (full-time) as of 31 March 3,395 2,254
</pre>
About the GFT Group:
The GFT Group is a global technology partner for future digital issues -
covering everything from discovering innovation to developing and
implementing sustainable business models.
Within the GFT Group, GFT stands for competent consulting and reliable
development, implementation and maintenance of customized IT solutions. The
company is one of the world's leading IT solutions providers in the banking
sector.
emagine offers companies the opportunity to staff their strategic
technology projects both quickly and flexibly with capable experts. To
achieve this, emagine has an international network of highly qualified
specialists at its disposal.
CODE_n, the GFT Group's innovation platform, offers international startups,
technology pioneers and established companies access to a global network.
It's where ideas become business.
Headquartered in Germany, the GFT Group stands for technological expertise,
innovative strength and outstanding quality. Founded in 1987, the GFT Group
is represented in eleven countries by around 3,400 employees. The GFT Group
is listed on the Frankfurt Stock Exchange in the TecDAX.
Contact:
Jutta Stolp
Investor Relations Manager
GFT Technologies AG
SchelmenwasenstraÃe 34
70567 Stuttgart
T +49 711 62042-591
F +49 711 62042-301
jutta.stolp@gft.com
www.gft.com
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Language: English
Company: GFT Technologies AG
SchelmenwasenstraÃe 34
70567 Stuttgart
Germany
Phone: +49 (0)711/62042-0
Fax: +49 (0)711/62042-301
E-mail: InvestorRelations@gft.com
Internet: www.gft.com
ISIN: DE0005800601
WKN: 580060
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of News DGAP News-Service
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356827 13.05.2015
DGAP-News: GFT Technologies AG: GFT Group continues dynamic growth in first quarter of 2015 - significant increase in revenue and earnings
| Source: EQS Group AG