GFT Technologies SE — Earnings Release 2010

Nov 8, 2010

News Details

Ad-hoc | 8 November 2010 08:24

GFT Technologies AG exceeds expectations in third quarter and raises revenue and earnings forecast for current financial year

GFT Technologies AG / Key word(s): Quarter Results/Change in Forecast

08.11.2010 08:24

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GFT Technologies AG has continued its positive development of the first six
months and closed the third quarter of 2010 with significant increases in
revenue and earnings. At EUR 8.76 million, earnings before taxes (EBT) for
the first nine months in particular were ahead of expectations with
year-on-year growth of 55 percent (prev. year EUR 5.65 million). There was
also encouraging growth in revenue. In the months January to September
2010, the GFT Group generated total revenue of EUR 178.74 million - an
increase of 13 percent over the same period last year (EUR 158.90 million).

At EUR 4.12 million (prev. year: EUR 2.89 million), the company posted its
best-ever pre-tax earnings in the third quarter of 2010. There was also
encouraging quarter-on-quarter growth in revenue, which reached EUR 64.06
million in the third quarter (prev. year: EUR 53.84 million), following EUR
54.43 million and EUR 60.25 million in the first and second quarters of
2010, respectively.

The Services division in particular displayed dynamic growth in the third
quarter. The segment benefitted from strong demand in the financial sector
and posted a segment result for the first nine months of 2010 of EUR 7.71
million (prev. year: EUR 4.60 million). The division achieved year-on-year
revenue growth of 30 percent to EUR 86.14 million (prev. year: EUR 66.02
million). The largest segment by revenue, the Resourcing division, posted
in the reporting period segment revenue of EUR 92.57 million (prev. year:
EUR 92.88 million) and contributed EUR 1.53 million (prev. year: EUR 1.74
million) to consolidated earnings.

Due to the encouraging development of business in the first nine months,
the Executive Board expects the company to end its financial year 2010 in a
similar fashion. Demand in the financial sector is expected to remain
stable at the current high level, which will continue to drive business in
the Services division. Increasing demand in the industrial sector is also
expected to boost the placement of freelance IT specialists, which in turn
will positively impact revenue and earnings in the Resourcing segment.
Against this backdrop, the Executive Board has upgraded its 2010 forecast
for revenue and earnings in the current fiscal year. The GFT Group now
expects total revenue to reach EUR 245 million with earnings before taxes
of EUR 11 to EUR 12 million.

The interim financial report as of 30 September 2010 will be published on
10 November 2010.

GFT Technologies Aktiengesellschaft
The Executive Board

Contact:
Andrea Wlcek
Director Global Marketing, Media & Investor Relations
GFT Technologies AG
Filderhauptstraße 142
70599 Stuttgart
Germany
T +49 711 62042-440
F +49 711 62042-301
andrea.wlcek@gft.com
www.gft.com

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Language: English
Company: 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 Hamburg, München, Düsseldorf, Berlin, Stuttgart

End of Announcement DGAP News-Service

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