Financial news

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Financial News

Results:

  1. GFT achieves strong earnings growth in first half of 2018

    GFT Technologies SE (GFT) today published its results for the first six months and second quarter of 2018. Its business with digitalisation solutions for retail banks continues to make good progress. This led to year-on-year revenue growth of 6 percent in its business division Continental Europe. The revenue trend in the Americas & UK division continues to be dominated by the cost-cutting measures of two major investment banking clients, leading to a decline in revenue of 12 percent.

  2. GFT acquires Canadian IT specialist V-NEO, focused on the insurance industry

    As a result of the acquisition, GFT will enter the Canadian insurance market, expand its market position in North America and gain a new site in Belgium. V-NEO develops integrated IT solutions and implements Guidewire services for leading insurance companies in Canada, Belgium and France. 160 employees will strengthen GFT’s industry expertise with a focus on digital applications within the property, casualty and life insurance sectors.

  3. GFT starts financial year 2018 with revenue and earnings growth

    The GFT Group published its results for the first quarter of 2018 today. There was increased demand for projects based on new technologies, such as distributed ledger technologies, cloud, data analytics and artificial intelligence, in the first quarter of 2018. As a result, the GFT Group achieved quarter-on-quarter revenue growth of 5 percent to EUR 106.99 million and almost doubled earnings (EBITDA) to EUR 10.05 million. Compared to the strong first quarter of 2017 – which at the time was not yet impacted by the budget restrictions of two investment banking clients – revenue in the first quarter of 2018 was down by just 4 percent, while EBITDA rose by 1 percent.

  4. GFT expands business model to industrial clients and adjusts guidance

    In view of continued volatility in the financial services sector, the management of GFT Technologies SE (GFT) today announced plans to expand its business model, which was previously tailored to the needs of banks. At the same time, due to increased cost savings made by two clients in the field of investment banking during the fourth quarter, GFT has downgraded its revenue and earnings guidance for 2017.

  5. GFT Group posts double-digit growth in financial year 2016

    The GFT Group today announced its preliminary and unaudited figures for the financial year 2016. With solid growth in revenue and earnings, the technology specialist for the financial services industry exceeded its full-year guidance slightly. The main growth driver was demand from retail banks for digitalisation solutions. In the Americas & UK division, growth was slowed by the reduced propensity of investment banks to invest in IT services.

  6. Marika Lulay to succeed Ulrich Dietz as CEO of GFT Technologies SE

    At today’s Administrative Board meeting of GFT Technologies SE (GFT), Ulrich Dietz – in agreement with the Administrative Board and of his own accord – resigned as Managing Director and Chief Executive Officer (CEO) of GFT Technologies SE with effect as of GFT’s Annual General Meeting on 31 May 2017. The new CEO will be Marika Lulay, who was unanimously appointed by the Administrative Board, also with effect as of 31 May 2017.

  7. GFT gets off to a successful start in 2016 with revenue growth of 10 percent

    GFT Technologies SE (GFT) made encouraging progress in the first quarter of 2016, posting solid growth in both revenue and earnings. Whereas the business division Continental Europe reported strong growth, momentum in the business division Americas & UK slowed somewhat. Once again, growth was driven by demand for solutions to digitise business processes and implement compliance requirements in the finance sector. Based on this positive performance in the seasonally weakest first quarter, GFT has confirmed its guidance for the full-year 2016.

  8. GFT Group sells staffing services provider emagine to management

    The GFT Group today signed an agreement with Financière Valérien SAS regarding the sale of its emagine business division in the countries Germany, France and the UK. In Financière Valérien SAS the current management of emagine, headed by Jean-François Bodin, COO for emagine on the Executive Board of GFT Technologies AG, and the French financial investor MBO Partenaires will hold stakes on the completion of the transaction (closing). The transfer of ownership is planned for the third quarter of 2015. The two sides agreed not to disclose the purchase price.

  9. Annual General Meeting 2015: proposal to change GFT Technologies AG into a European Company (SE) adopted

    At the Annual General Meeting of GFT Technologies AG on 23 June 2015, shareholders voted in favour of changing the company’s legal status to that of a European Company (Societas Europaea, SE). The proposal was adopted with a majority of over 99 percent. The modern, European and internationally recognised legal form underlines the global alignment of the GFT Group, whose around 3,500 employees operate in 11 countries around the world. The change will become effective on its entry in the Commercial Register and is expected to be completed in August 2015.

  10. GFT Group posts strong revenue and earnings growth for financial year 2014 – guidance exceeded

    The GFT Group today announced its preliminary and unaudited figures for the financial year 2014. With an increase in consolidated revenue of 38 percent to EUR 365.32 million (prev. year: EUR 264.29 million), the company displayed dynamic growth and exceeded its revenue target for 2014 by EUR 5.32 million. The significant year-on-year increase in revenue resulted from the strong organic growth of the GFT division with its solutions for the banking sector as well as from company acquisitions in Italy (Sempla, 2013) and the UK (Rule Financial, 2014).

  11. GFT acquires Italian IT consultancy Sempla

    GFT Technologies AG today concluded a purchase agreement via its subsidiary GFT Holding Italy S.r.l. regarding the acquisition of an 80-percent stake in Sempla S.r.l., based in Italy. The remaining 20 percent shall remain mainly with Sempla’s management and can be acquired by GFT via options after a five-year period. The purchase price is to be paid from liquid funds. The parties have agreed not to disclose the purchase price amount.

  12. GFT off to a good start in financial year 2013

    The GFT Group got off to a successful start in the first quarter of its financial year 2013. With consolidated revenue of EUR 55.51 million, the Group fell just short of the prior-year figure (EUR 57.65 million). Adjusted for the planned reduction in revenue from Third Party Management business of EUR 4.25 million, core business grew by 4 percent. Pre-tax earnings (EBT) improved by 22 percent to EUR 1.55 million (prev. year: EUR 1.27 million).