GFT Technologies SE upgrades its outlook for 2021 following a further increase in orders received

20. July 2021, 18:57h CET/CEST

Ad hoc disclosure pursuant to Article 17 MAR

GFT Technologies SE upgrades its outlook for 2021 following a further increase in orders received

GFT Technologies SE (GFT) now expects a stronger increase in revenue for the Group for the financial year 2021 to EUR 550 million (previously EUR 520 million, previous year: EUR 444.85 million), as well as higher growth in adjusted EBITDA to EUR 62 million (previously EUR 56 million, previous year: EUR 42.52 million) and in EBT to EUR 36 million (previously EUR 30 million, previous year: EUR 14.11 million).

Orders received once again increased significantly. This is driven by catch-up effects, as projects that were postponed during the Covid 19 pandemic are now being realised. Additionally, decision-making cycles on the customer side are currently much shorter, from accelerated processes for tendering and awarding contracts to faster order initiation. This is happening against the background of a consistent structurally increased demand for digitalisation solutions.

Earnings will increase disproportionately. This results from the significantly higher revenue as well as the lower than expected travel expenses.

As previously announced, the results for the first half of 2021 will be published on 12 August 2021.

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