GFT TECHNOLOGIES SE Preliminary figures FY 2023
GFT Technologies SE | 7 March 2024
© 2024 | GFT Technologies SE and its affiliates. All rights reserved.
Shaping the | Preliminary |
future of digital | figures FY 2023 |
business |
Agenda
Highlights | Marika Lulay (CEO)
Preliminary figures 2023 | Dr Jochen Ruetz (CFO) Outlook | Marika Lulay (CEO)
gft.com | 7 March 2024 | 2 | |
Shaping the | Preliminary | Highlights |
future of digital | figures FY 2023 | |
business |
FY 2023 - At a glance
Revenue growth +10% Adj. EBIT +14% (excl. FX) Higher dividend proposal
of €0.50 (for FY 2022: € 0.45)
Smooth targens integration Various ESG ratings
improved (Ecovadis, CDP, S&P)
Launch AI.DA marketplace is paying off
Footprint in Americas strengthened via Sophos acquisition
All growth drivers intact
REVENUE 2023: +10%
€ 802m
REVENUE BY SECTORS
SECTORS
2023
Banking 73%
Insurance 16%
Industry & Others 11%
ADJ. EBIT 2023: +9% (EXCL. FX +14%)
€ 73m
OUTLOOK 2024
REVENUE
€ ~920m
Adj. EBIT
€ ~85m
gft.com | 7 March 2024 | 3 | |
Shaping the | Preliminary | Highlights |
future of digital | figures FY 2023 | |
business |
USE CASE #01
GFT Banking Agent
Connected to the core banking system the Generative AI- based agent answers queries and even executes transactions.
Delight customers | Cut costs | Demonstrate leadership in digital banking
USE CASE #02
GFT AI Impact Beta
Generative AI-based,engine-agnosticSW-development orchestration.
Enhances productivity up to 25% thanks to automated prompt generation, code suggestions, vulnerability checks, fixes and detailed logs.
Simplify onboarding | Accelerate digital transformation | Reduce technical debt
USE CASE #03
Visual inspection
AI used to monitor quality. Detect production irregularities more quickly, precisely and reliably for minimised rejects.
Decrease cost | Increase customer satisfaction
gft.com | 7 March 2024 | 4 | |
Shaping the | Preliminary | Highlights |
future of digital | figures FY 2023 | |
business |
Awards and recognitions
Digital Banking | Guidewire Award |
Guidewire services
2023 IDC FinTech
Rankings
Top 50 and Fast Track
FinTech
Banking tech award
of the year
Google Cloud
gft.com | 7 March 2024 | 5 | |
Shaping the | Preliminary |
future of digital | figures FY 2023 |
business |
Agenda
Highlights | Marika Lulay (CEO)
Preliminary figures 2023 | Dr Jochen Ruetz (CFO)
Outlook | Marika Lulay (CEO)
gft.com | 7 March 2024 | 6 | |
Shaping the | Preliminary | Financials |
future of digital | figures FY 2023 | |
business |
2023 key figures - Solid growth of revenues and earnings
in €m | 2023 | 2022 | ∆ |
Order backlog | 386.07 | 361.45 | 7% |
EBITDA | 89.76 | 86.04 | 4% |
EBIT adjusted margin | 9.1% | 9.2% | |
EBIT | 68.40 | 65.55 | 4% |
EBT margin | 8.5% | 9.0% | |
Net income | 48.36 | 46.25 | 5% |
Earnings per share (in €) | 1.84 | 1.76 | 5% |
Employees (in FTE) | 9,134 | 8,842 | 3% |
- Revenue: +10% (FX effect: 0%)
- Order backlog above previous year, supported by first time integration of targens (€17.8m) - despite shorter order cycles
- Adjusted EBIT* increased by 9%, including
- Capacity adjustments: €-5.0m
(2022: €-2.7m) - FX effects of €-1.2m (2022: €+2.1m)
- Excluding FX effects: +14%
- Capacity adjustments: €-5.0m
- Adjusted EBIT* margin almost stable at 9.1% (2022: 9.2%)
- EBT up by 3% to €68.0m (2022: €66.1m)
- Slightly reduced tax rate of 29%(2022: 30%)
*Adjusted for non-operational effects from M&A activities and share-price-based effects in the valuation of management remuneration; for details, see key performance indicators(gft.com)
gft.com | 7 March 2024 | Minor variances due to rounding possible | 7 | |
Shaping the | Preliminary | Financials |
future of digital | figures FY 2023 | |
business |
Disproportionate growth of Banking and Industry business
Well-balanced client portfolio
Largest client with 16% of total revenue
Disproportionate growth of Banking and Industry & Others
45% 44%
37%
16% 14% 16%
15% 15% 13%
23%
17% 17%
9% 9% 10%
730.14
10%
18%
72%
+12%
-2%
+13%
801.74
11%
16%
73%
>50 €m >10 €m >5 €m>1 €m<1 €m
% revenue GFT Group | 2021 | 2022 | 2023 | |||
- revenue 2022
Banking
Growth rate
Insurance
- revenue 2023
Industry & Others
gft.com | 7 March 2024 | Minor variances due to rounding possible | 8 | |
Shaping the | Preliminary | Financials |
future of digital | figures FY 2023 | |
business |
Steady revenue growth despite high market uncertainties
Revenue in €m
200.91 203.03 207.13
173.35 183.90 184.66 188.23 190.67
160.80
Adjusted EBIT* in €m
20.97 21.19
17.9218.47 18.92
16.1916.28
13.91
14.89
Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23
Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23
- Q4/2023 vs. Q4/2022: Solid revenue growth (+10%) and significant increase of adjusted EBIT* (+12%) despite FX headwinds, mainly driven by top line growth and improved utilisation
- Q4/2023 vs. Q3/2023: Moderate revenue growth (+2%); adjusted EBIT* remained on high level (+1%) mainly reflecting high utilisation rate, reduced negative FX impacts and turn-around of Brazilian business
*Adjusted for non-operational effects from M&A activities and share-price-based effects in the valuation of management remuneration; for details, see key performance indicators(gft.com)
gft.com | 7 March 2024 | Minor variances due to rounding possible | 9 | |
Shaping the | Preliminary | Financials |
future of digital | figures FY 2023 | |
business |
Revenue and earnings by segment
in €m | Revenue | Growth rates | |||||||
2023 | 2022 | Organic | M&A | FX | Total | ||||
Americas, UK & APAC | 467.77 | 459.52 | 3% | 0% | -1% | 2% | |||
Continental Europe | 333.05 | 269.90 | 11% | 12% | 0% | 23% | |||
Others | 0.92 | 0.72 | n/a | n/a | n/a | n/a | |||
GFT Group | 801.74 | 730.14 | 6% | 4% | 0% | 10% | |||
EBIT adjusted*
2023 2022 ∆%
47.04 47.51 -1%
34.19 26.69 28%
-7.90-6.72 -18%
73.33 67.48 9%
-
Market position in Americas, UK & APAC slightly improved by 2% revenue growth. Strong growth in
USA and Mexico,both mainly driven by the banking sector; adjusted EBIT burdened by weaker performance in Brazil, shift of profitable projects from UK to Poland and negative FX effects - Dynamic growth in Continental Europe (+23%) mainly supported by first-time consolidation of acquired targens in Germany; main drivers: France, Italy and Spain as well as strong increase in Polandmainly due to the project shifts from UK; significant growth in adjusted EBIT by 28% supported by first time targens contribution and project shifts
- GFT Group: Organic revenue growth of 6% (excluding targens); improvement in adjusted EBIT of 9% due to higher utilisation - despite burdens from FX effects and capacity adjustments
*Adjusted for non-operational effects from M&A activities and share-price-based effects in the valuation of management remuneration; for details, see key performance indicators(gft.com)
gft.com | 7 March 2024 | Minor variances due to rounding possible | 10 | |
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GFT Technologies SE published this content on 07 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 March 2024 06:51:05 UTC.
