GFT Technologies SE — Earnings Release 2008

Oct 17, 2008

News Details

Corporate | 17 October 2008 16:16

GFT publishes preliminary figures for the third quarter 2008

GFT Technologies AG / Preliminary Results

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• Financial crisis leads to more subdued demand
• Increase in revenue and net income weaker than expected
• Software business division has negative impact on earnings before taxes
• Forecast for the 2008 financial year lowered

Stuttgart, 17 October 2008 – The IT company GFT Technologies AG (GFT) today
published its preliminary results for the third quarter 2008. The GFT Group
expects revenues of € 61.6m in the third quarter. Earnings before taxes in
the period from July to September 2008 are expected to come in at € 2.1m.

'The escalation of the financial market crisis in recent weeks has
unsettled our clients across all industries. As a consequence, we have
begun to experience subdued demand, which has affected the earnings of the
GFT Group. The Software division was particularly affected by the hesitant
buying behaviour of the clients, which has had a negative impact on the
Group wide earnings', explains Ulrich Dietz, CEO of GFT. 'In our business
division Resourcing, by contrast, we are expecting
a slight increase in revenue in the third quarter compared to the previous
quarter. The financial market crisis and the accompanying global economic
downturn, however, lead to slightly reduced margins compared to the
previous year. The Services division developed steadily with revenues, as
well as earnings, corresponding to our expectations'.

For earnings before taxes in the period from July to September 2008, GFT is
expecting a slight increase of 20 per cent to € 2.1m compared to the
previous quarter. Pre-tax earnings for the nine-month period are thus lower
than originally planned, standing at € 4.3m (previous year: € 8.7m).

In total, the GFT Group is expecting revenues of € 61.6m for the third
quarter, which corresponds to an increase of two per cent compared to the
previous quarter. This results in revenues for the first nine months of the
current financial year of € 177.5m compared to € 176.3m in the previous
year (30 September 2007).

'Against this backdrop we have lowered our forecasts for the entire year.
For the current year we are expecting a Group revenue of € 240m and
earnings before taxes of € 6m', says Ulrich Dietz. 'With our three
divisions, we are favourably structured to be flexible to changes in the
market. Our international network enables us to act globally and thus to
reduce the effect on the company of fluctuations in individual markets. As
a strategic IT partner we support companies, especially those affected by
the financial market crisis, in using their existing IT budgets efficiently
and at the same time being technologically well prepared for the future'.

GFT will publish its Interim Financial Report as of 30 September on
Thursday, 6 November 2008.

Andrea Wlcek
Head of Corporate Communications and Investor Relations
GFT Technologies AG
Filderhauptstraße 142
70599 Stuttgart
T +49 711 62042-440
F +49 711 62042-301
andrea.wlcek@gft.com
www.gft.com

17.10.2008 Financial News transmitted by DGAP

Language: English
Issuer: GFT Technologies AG
Filderhauptstr. 142
70599 Stuttgart
Deutschland
Phone: +49 (0)711/62042-0
Fax: +49 (0)711/62042-101
E-mail: Investor-Relations@gft.com
Internet: www.gft.com
ISIN: DE0005800601
WKN: 580060
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf

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