GFT Technologies SE — Earnings Release 2009

May 14, 2009

News Details

Corporate | 14 May 2009 07:46

Impressive GFT results with higher earnings for Q1 2009

GFT Technologies AG / Quarter Results

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• Earnings before taxes up 88% to EUR 0.9m
• Consolidated revenue stable at EUR 54.6m
• Services division records higher revenue
• Executive Board confirms estimates for the 2009 financial year

Stuttgart, 14 May 2009 - International IT company, GFT Technologies AG
(GFT), today announced its results for Q1 2009. 'We have been able to
continue to report positive results, despite economic conditions remaining
difficult', says Ulrich Dietz, Chairman of the Executive Board of GFT. For
the first three months of 2009 the GFT Group posted revenue of EUR 54.6m
(prev. year: EUR 55.4m). Earnings before taxes rose 88% year-on-year to EUR
0.9m (prev. year: EUR 0.5m).

Revenue: Services division benefits from slight recovery in the financial
sector

The Services division recorded a 6% increase in revenue to EUR 21.9m (prev.
year: EUR 20.6m). This was chiefly attributable to the expansion of the
customer base to include new international financial institutions. The
Resourcing division was the main revenue driver once again, generating EUR
31.3m in Q1 2009 (prev. year: EUR 33.4m). This moderate decline in revenue
of 6% reflected the immediate cost reduction measures implemented by
customers, involving cutbacks in Third Party Management services. The
Software division recorded slightly lower revenue of EUR 1.3m (prev. year:
EUR 1.5m). Licensing revenue rose a handsome 47% year-on-year.

Result: Software division contributes to earnings increase

For the first quarter of 2009 the GFT Group posted consolidated earnings
before taxes (EBT) of EUR 0.9m, an increase of 88% over the previous-year
figure of EUR 0.5m for the quarter. The Services and Resourcing divisions
were the primary earnings drivers, as in the preceding quarters. The
earnings increase stemmed from a significant improvement in the cost
situation for the Software segment, which trimmed the loss posted last
quarter to EUR 0.1m (prev. year: -EUR 0.8m).

Other key financials

Net profit for the quarter ending 31 March came in at EUR 0.7m versus EUR
0.1m one year ago. Earnings per share improved in the quarter under review
to EUR 0.03 versus EUR 0.01 for the same quarter last year. Holdings of
cash, cash equivalents and securities increased to EUR 26.6m (prev. year:
EUR 20.7m).
At the end of the first quarter, the GFT Group workforce numbered 1,031 or
14 fewer employees than one year ago, and four more than on 31 December
2008.

Revenue and earnings targets for 2009 confirmed

'We are satisfied with the positive business development we are seeing in
an, at present, extremely difficult market environment; this underscores
the soundness of our three-division strategy. We thus confirm our revenue
and earnings targets for the financial year of stable revenue (2008
revenue: EUR 242m) and earnings before taxes ranging between EUR 6m and 8m,
also in line with last year's level,' says Ulrich Dietz, Chairman of the
Executive Board of GFT.

The GFT Group Quarterly Financial Report is posted on the internet at
http://www.gft.com/ir.

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

14.05.2009 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)711/62042-301
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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