- Group 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
- The U.S. market contributed to results with 8 percent of total group revenue
- GFT US grew 27 percent Y/Y
New York, March 17th, 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 digitalization 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 October 21st, 2021.
Marika Lulay explains: “Our clients know that they are in good hands with us, no matter how complex the project. Our digitalization solutions help them enhance their performance, make them even more productive and more efficient – in other words, make them even more competitive.”
The company’s performance in the U.S. followed the same positive trend. “Our local revenue grew 27 percent in 2021, specifically due to the acceleration of projects on cloud transformation. Through the strategic partnerships we have with Google Cloud, AWS and Thought Machine we were able to offer our clients digital platforms that allow them to be more efficient, agile and intelligent. All this improves their internal processes to respond to market changes”, explains Marcos Santos, president of GFT USA and Latin America.
“We significantly outpaced the market in all segments and markets. 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.”
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.
