- EBT almost tripled, revenue up 27 percent
- Increased demand for high-margin projects continues
- Positive outlook for 2022: further revenue growth of 20 percent, earnings expected to increase by 36 percent
- Shareholders benefit from 287 percent value growth and planned dividend increase to EUR 0.35
- UK named as GFT’s highest performing market, contributing 18 percent of global business
- 34 percent revenue growth in UK to £88.99 million
- UK team growth of 30 percent employing 232 specialists by the end of 2021
Stuttgart, 03 March, 2022 – Revenue up 27 percent, adjusted EBITDA up 52 percent, EBT up 184 percent year on year. All key performance indicators show: GFT Technologies SE (GFT) set new records in 2021.
The reasons for GFT’s extremely positive development were consistently high demand for complex, highly profitable digitalisation solutions and active management of administrative costs.
As a result of its successful business performance, the GFT share price was highly dynamic in 2021 and GFT was elevated to the SDAX index in December. Shareholders achieved value growth of 287 percent over the year. This made GFT one of Germany’s top-performing small-cap stocks in 2021.
“We significantly outpaced the market in all segments and markets,” states GFT’s CEO Marika Lulay. “We are proving over and over again that we can react quickly to new circumstances. That is how we broadened our client base and expanded our footprint in key markets in the past year.”
Very positive trend continues
GFT reached its ambitious targets for 2021, and even exceeded them slightly in the case of revenue. The company expects this very positive trend to continue in 2022. Revenue is expected to grow by 20 percent to around EUR 680 million and pre-tax earnings by 36 percent to EUR 54.5 million. GFT is thus upgrading its guidance for 2022 slightly compared to that of 21 October 2021.
Marika Lulay explains: “Our clients know that they are in good hands with us, no matter how complex the project. Our digitalisation solutions help them enhance their performance, make them even more productive and more efficient – in other words, make them even more competitive.”
Spearheading GFT’s success in the UK as Managing Director, Carlton Hopper said:
“We had a supercharged year that enabled us to grow our core sector of banking and to further diversify our client base. Part of this success was down to our embracing the hybrid working model. We have continued to adopt this model, giving people the flexibility to work from home, the office or on client site. This enables us to recruit nationwide and launch a new innovation hub in Manchester, building a team of incredible digital transformation experts across the north.”
“We intend to continue this trajectory with plans in place for further accelerated revenue growth in 2022.”
“We had a supercharged year that enabled us to grow our core sector of banking and to further diversify our client base. Part of this success was down to our embracing the hybrid working model.”
Key figures (IFRS, unaudited)
* GFT’s top 2 clients are defined as Deutsche Bank and Barclays.
** Adjusted for special items from M&A activities.
Further information on the definition of alternative performance measures is provided here on the GFT website.
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Record year for GFT
Revenue up 27 percent, adjusted EBITDA up 52 percent, EBT up 184 percent year on year. All key performance indicators show: GFT Technologies SE (GFT) set new records in 2021.
