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 | |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
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.