Notas de prensa
Impressive GFT results with higher earnings for Q1 2009
Earnings before taxes up 88% to € 0.9m
Consolidated revenue stable at € 54.6m
Services division records higher revenue
Executive Board confirms estimates for the 2009 financial year
Stuttgart, 14 May 2009 – International IT company, GFT Technologies AG (GFT), today announced its results for Q1 2009. “We have been able to continue to report positive results, despite economic conditions remaining difficult”, says Ulrich Dietz, Chairman of the Executive Board of GFT. For the first three months of 2009 the GFT Group posted revenue of € 54.6m (prev. year: € 55.4m). Earnings before taxes rose 88% year-on-year to € 0.9m (prev. year: € 0.5m).
Revenue: Services division benefits from slight recovery in the financial sector
The Services division recorded a 6% increase in revenue to € 21.9m (prev. year: € 20.6m). This was chiefly attributable to the expansion of the customer base to include new international financial institutions. The Resourcing division was the main revenue driver once again, generating € 31.3m in Q1 2009 (prev. year: € 33.4m). This moderate decline in revenue of 6% reflected the immediate cost reduction measures implemented by customers, involving cutbacks in Third Party Management services. The Software division recorded slightly lower revenue of € 1.3m (prev. year: € 1.5m). Licensing revenue rose a handsome 47% year-on-year.
Result: Software division contributes to earnings increase
For the first quarter of 2009 the GFT Group posted consolidated earnings before taxes (EBT) of € 0.9m, an increase of 88% over the previous-year figure of € 0.5m for the quarter. The Services and Resourcing divisions were the primary earnings drivers, as in the preceding quarters. The earnings increase stemmed from a significant improvement in the cost situation for the Software segment, which trimmed the loss posted last quarter to € 0.1m (prev. year: -€ 0.8m).
Other key financials
Net profit for the quarter ending 31 March came in at € 0.7m versus € 0.1m one year ago. Earnings per share improved in the quarter under review to
€ 0.03 versus € 0.01 for the same quarter last year. Holdings of cash, cash equivalents and securities increased to € 26.6m (prev. year: € 20.7m).
At the end of the first quarter, the GFT Group workforce numbered 1,031 or 14 fewer employees than one year ago, and four more than on 31 December 2008.
Revenue and earnings targets for 2009 confirmed
“We are satisfied with the positive business development we are seeing in an, at present, extremely difficult market environment; this underscores the soundness of our three-division strategy. We thus confirm our revenue and earnings targets for the financial year of stable revenue (2008 revenue:
€ 242m) and earnings before taxes ranging between € 6m and 8m, also in line with last year’s level,” says Ulrich Dietz, Chairman of the Executive Board of GFT.
The Services division recorded a 6% increase in revenue to € 21.9m (prev. year: € 20.6m). This was chiefly attributable to the expansion of the customer base to include new international financial institutions. The Resourcing division was the main revenue driver once again, generating € 31.3m in Q1 2009 (prev. year: € 33.4m). This moderate decline in revenue of 6% reflected the immediate cost reduction measures implemented by customers, involving cutbacks in Third Party Management services. The Software division recorded slightly lower revenue of € 1.3m (prev. year: € 1.5m). Licensing revenue rose a handsome 47% year-on-year.
Result: Software division contributes to earnings increase
For the first quarter of 2009 the GFT Group posted consolidated earnings before taxes (EBT) of € 0.9m, an increase of 88% over the previous-year figure of € 0.5m for the quarter. The Services and Resourcing divisions were the primary earnings drivers, as in the preceding quarters. The earnings increase stemmed from a significant improvement in the cost situation for the Software segment, which trimmed the loss posted last quarter to € 0.1m (prev. year: -€ 0.8m).
Other key financials
Net profit for the quarter ending 31 March came in at € 0.7m versus € 0.1m one year ago. Earnings per share improved in the quarter under review to
€ 0.03 versus € 0.01 for the same quarter last year. Holdings of cash, cash equivalents and securities increased to € 26.6m (prev. year: € 20.7m).
At the end of the first quarter, the GFT Group workforce numbered 1,031 or 14 fewer employees than one year ago, and four more than on 31 December 2008.
Revenue and earnings targets for 2009 confirmed
“We are satisfied with the positive business development we are seeing in an, at present, extremely difficult market environment; this underscores the soundness of our three-division strategy. We thus confirm our revenue and earnings targets for the financial year of stable revenue (2008 revenue:
€ 242m) and earnings before taxes ranging between € 6m and 8m, also in line with last year’s level,” says Ulrich Dietz, Chairman of the Executive Board of GFT.
GFT Group financials at a glance:
| IFRS financials in €(k) | 01.01.-31.03.2009 | 01.01.-31.03.2008 |
| Revenue | 54,559 | 55,390 |
| EBITDA | 1,159 | 703 |
| Total depreciation and amortisation | 330 | 413 |
| EBIT | 828 | 290 |
| Earnings before taxes (EBT) | 981 | 522 |
| Net profit as of 31 March | 722 | 132 |
| Result/share acc. to IAS 33 in € | 0.03 | 0.01 |
| Equity ratio in percent | 59 | 55 |
| Number of employees as of 31 March | 1,031 | 1,045 |
Ulrich Dietz,
Chairman of the Executive Board:
"We have been able to continue to report positive results, despite economic conditions remaining difficult "
Interim Financial Report Q1/09
online Version
GFT Technologies AG
Andrea Wlcek
Head of Investor Relations & Corporate Communication
Filderhauptstrasse 142
70599 Stuttgart
Germany
T +49 711 62042-440
F +49 711 62042-301
andrea.wlcek@gft.com
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