GFT Technologies SE — Interim / Quarterly Report 2021

Nov 11, 2021

GFT Technologies SE | 11 November 2021

© 2021 | GFT Technologies SE and its affiliates. All rights reserved.

Interim Statement 9M/2021 Interim Statement 9M/2021

Growth is accelerating further Outlook raised again on 21 October

Highlights

• Structurally higher interest in new digitization solutions
• High demand enables focus on projects with higher margins
• Active cost containment curbs increase in administrative expenses
• High orders received lift confidence for 2021 and 2022
• For 2022 further high market dynamics and very positive business development expected (Revenue: approx. +20%, EBITDA adj. margin: approx. 11.5%, EBT margin: approx. 7.5%)

2

Key figures – significant revenue growth, surge in earnings

in €m	9M/2021	9M/2020	∆%
Revenue	405.39	327.04	24%
Order backlog	214.70	145.38	48%
EBITDA adjusted*	46.13	30.81	50%
EBITDA	44.19	27.80	59%
EBIT	28.87	10.74	>100%
EBT	28.13	9.05	>100%
Net income	21.09	6.38	>100%
Earnings per share (in €)	0.80	0.24	>100%
Earnings per share adjusted (in €)*	0.98	0.47	>100%
Employees (in FTE)	7,286	5,754	27%

*Adjusted for non-operational effects from M&A activities (EBITDA) plus applicable tax effects

• Revenue growth by 24%
• Order backlog significant above prioryear
• Strong increase in EBITDA adjusted by 50%
  • Utilisation back to normal Underutilisation at €0.00m (9M/2020: €-4.30m)
  • Restructuring measures amounted to €-1.81m (9M/2020: €-6.01m)
  • FX effects of €-1.38m (9M/2020: €-0.44m)
• EBT more than tripled
• EBT margin rose to 6.9% (9M/2020: 2.8%)
• Tax ratio belowprior-year 25% (9M/2020: 29%)

Diversification improved further

Client concentration risk further reduced

Broad client diversification* All sectors with nominal growth

Sector split with further improvement

*Annualised extrapolation based on the past three quarters

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4 Minor variances due to rounding possible

Interim Statement 9M/2021 Interim Statement 9M/2021

Revenue and EBITDA adjusted by quarter

• Q3/2021 vs. Q2/2021: continued revenue growth (+4%) in all areas Rise in earnings (+12%) e.g. due to focus on high-margin projects as well as active cost containment
• Q3/2021 vs. Q3/2020: strong revenue growth (+36%) and improvement in EBITDA adjusted (+40%), prior-year burdened by Covid-19

*Adjusted for non-operational effects from M&A activities

5 Minor variances due to rounding possible

Revenue by segment (I)

in €m €m in	Revenue	Revenue	Growth rates Growth rates
	9M/2021	9M/2020 2020	Organic 2019	M&A Organic	FX M&A	Total
Americas, UK & APAC APAC Americas UK & ,	223.09	157.39 216 49	45% 198 99	n/a 17%	-3% 0%	42% -8%
Continental Europe Continental Europe	182.14	169.39 228 01	8% 229 45	n/a -3%	0% 2%	8% 0%
Others Others	0.16	0.26 0 35	n/a 0 54	n/a n/a	n/a n/a	n/a
GFT Group GFT Group	405.39	327.04 444 85	26% 428 98	n/a 7%	-2% 1%	24% -4%

• Americas, UK & APAC: consistently high revenue growth despite slight currency headwinds, dynamics esp. in Canada, Brazil, APAC, UK and USA
• Continental Europe: revenue increase accelerates slightly vs. prior-year, positive business development in Italy und Germany compensates for decrease with top-2 clients

Revenue by segment (II)

in €m			Revenue
		9M/2021	9M/2020	9M/2021 vs. 9M/2020
Americas, UK & APAC	Top-2 clients	31.43	32.75	-4%
	Other clients	191.66	124.64	54%
	Total	223.09	157.39	42%
Continental Europe	Top-2 clients	36.72	39.38	-7%
	Other clients	145.42	130.01	12%
	Total	182.14	169.39	8%
GFT Group*	Top-2 clients	68.15	72.13	-6%
	Other clients	337.08	254.65	32%
*w/o segment "Others"	Total	405.23	326.78	24%

• Continuing decrease in client concentration: revenue share top-2 clients now at 17% (9M/2020: 22%)
• Revenue top-2 clients: merely slight decrease esp. in UK (Americas, UK & APAC) and Spain (Continental Europe)
• Growth trend with other clients remains dynamic

Earnings by segment

in €m	EBITDA adjusted*		EBITDA			EBT
	9M/2021	9M/2020	∆%	9M/2021	9M/2020	∆%	9M/2021	9M/2020	∆%
Americas, UK & APAC	25.05	15.21	65%	23.12	13.14	76%	16.91	5.91	>100%
Continental Europe	24.68	15.78	56%	24.67	14.84	66%	15.82	4.61	>100%
Others	-3.60	-0.18	< -100%	-3.60	-0.18	< -100%	-4.60	-1.47	< -100%
GFT Group	46.13	30.81	50%	44.19	27.80	59%	28.13	9.05	>100%

• Americas, UK & APAC: revenue increase leads to higher earnings contribution and utilisation, strong margin improvement
• Continental Europe: profitable revenue growth, significant margin improvement due to 2020's efficiency enhancements; prior-year esp. burdened by underutilisation and restructuring

*Adjusted for non-operational effects from M&A activities

Revenue by markets – Brazil as third largest market for the first time

9M / 2021		∆%	9M / 2020
71.97	UK	23%	58.40
61.76	Spain	-4%	64.62
56.02	Brazil	64%	34.22
53.09	Italy	10%	48.10
41.19	Germany	11%	37.05
32.57	Canada	95%	16.71
31.77	USA	26%	25.18
12.72	France	-4%	13.28
10.90	M exico	-9%	12.00
9.04	Switzerland	57%	5.77
8.14	(SAR) Hong Kong	38%	5.88
16.22	Other countries	>100%	5.83
405.39	Total	24%	327.04

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Interim Statement 9M/2021

11 November 2021

10

Minor variances due to rounding possible

30 biggest clients 9M/2021 – four new entries vs. prior year

P&L – revenue growth, disproportionate earnings increase

in €m	9M/2021	9M/2020	∆%
Revenue	405.39	327.04	24%
Other operating income	8.13	9.68	-16%
Cost of purchased services	-56.79	-35.05	62%
Personnel expenses	-276.16	-237.44	16%
Other operating expenses*	-36.38	-36.43	0%
EBITDA	44.19	27.80	59%
Depreciation and amortisation	-15.32	-17.06	-10%
EBIT	28.87	10.74	>100%
Interest income/expenses	-0.74	-1.69	-56%
EBT	28.13	9.05	>100%
Income taxes	-7.04	-2.67	>100%
Net income	21.09	6.38	>100%
Earnings per share (in €)	0.80	0.24	>100%

• Continued and dynamic revenue growth attributed tohigher demand for high-margin digitisation solutions
• Decrease in other operating income mainly characterised by lower foreignexchange gains
• Ratio cost of purchased services to revenue of 14% above prior-year level (9M/2020: 11%)
• Increase personnel expenses caused by higher average headcount, esp. in Brazil. Ratio of personnel expenses w/o restructuring costs plus purchased services to revenue at 82% (9M/2020: 83%)
• Other operating expenses unchanged compared toprior year due to active cost containment
• Effective tax ratio at 25% belowprior-year level as a result of changed profit or loss distribution across affiliates (9M/2020: 29%)

*incl. results of investments accounted for using the equity method

Cash flow analysis (€m) – OCF on a high level

• Financing structure still very solid. Unused credit facilities of €51.09m (31/12/2020: €56.10m). Improved net cash €-16.12m (31/12/2020: €-31.35m)
• Decrease in group cash to €66.82m (31/12/2020: €70.87m) mainly due to redemption of loans from operating cash flow
• Operating cash flow of €30.97m at consistently high level (9M/2020: €31.19m)
• Cash flow from financing activities mainly influenced by net redemption of loans amounting to €19.24m (9M/2020: €5.23m).
• Cash flow from investing largely characterised by investments in property, plant and equipment €4.82m (9M/2020: €3.06m)

Balance sheet (€m) – equity ratio increased

• Balance sheet total largely unchanged from end of previous year. Slight rise (+1%) due to increased receivables from contracts w ith clients. Opposing effect mainly from decline in property, plant and equipment
• Decrease in non-current assets of €12.81m primarily driven by low er right-of-use assets due to termrelated adjustment of leases. Noncurrent assets account for 49% (31/12/2020: 53%) of balance sheet total
• Decline in cash and cash equivalents of 6% follow ing redemption of bank loans

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▪ Increase in other current assets of €22.30m to €147.00m esp. due to higher contract assets in connection w ith positive business trend

• Equity currency-adjusted up by €15.82m; net income of €21.09m exceeds dividend to shareholders of €5.27m. Equity ratio improved by 4 percentage points to 35% (31/12/2020: 31%)
• Decline in non-current liabilities of €29.92m to €94.07m mainly due to redemption of bank loans. Furthermore, decrease of other financial liabilities of €13.29m resulting from reduction in lease liabilities acc. to IFRS 16
• Current liabilities of €177.86m up €15.12m on prior-year level. Increase primarily driven by higher personnel-related obligations as w ell as outstanding supplier invoices. Opposing effect from low er contract liabilities from fixed-price contracts w ith clients

Other current assets Current liabilities Non-current liabilities

Employees – staff expansion keeps pace with growth

• Number of employees grewby 27% to new record high
• Strong rise esp. in Brazil
• Utilisation in third quarter at 91% on par with prior year (Q3/2020: 91%)
• Increase in attrition as expected, prior-year figures belowlong-term average due to Covid-19
• In addition: external contractors with strong rise to 1,160 (9M/2020: 698) (headcount, not reflected in figures above)

14 Minor variances due to rounding possible

Outlook 2021 – higher growth, strong rise in earnings For 2022 further positive business development expected

REVENUE 2021e ▪ Accelerated revenue growth due to structural higher demand for digitisation solutions

• EARNINGS 2021e ▪ Strong rise driven by increased revenue contribution, focus on projects with higher margins, raised utilisation as well as active cost containment. Focus on revenue growth requires continued high spending for sales activities and technological expertise
• OUTLOOK 2022e Further high market dynamics and very positive business development in 2022: revenue increase of approx. 20%, EBITDA adjusted margin of approx. 11.5% as well as EBT margin of approx. 7.5% expected.

Shaping the future of digital business

GFT Technologies SE Dr Jochen Ruetz CFO

Schelmenwasenstraße 34 70567 Stuttgart T +49 711 62042-422 jochen.ruetz@gft.com

GFT Technologies SE

Karl Kompe Senior Investor Relations Manager

Schelmenwasenstraße 34 70567 Stuttgart T +49 711 62042-323

karl.kompe@gft.com

Backup

© 2021 | GFT Technologies SE and its affiliates. All rights reserved.

Results at a glance per quarter

in €m	Q1/2020	Q2/2020	Q3/2020	Q4/2020	FY 2020	Q1/2021	Q2/2021	Q3/2021
Revenue	112.48	108.57	105.99	117.81	444.85	123.92	137.66	143.81
EBITDA adjusted*	10.39	8.14	12.28	11.71	42.52	13.55	15.40	17.18
EBITDA	9.26	7.20	11.34	11.90	39.70	12.90	14.73	16.56
EBIT	3.61	1.56	5.57	5.59	16.33	7.37	9.83	11.67
EBT	3.02	1.02	5.01	5.06	14.11	7.01	9.61	11.51
Net income	2.28	0.53	3.57	3.56	9.94	5.16	6.93	9.00
Net income adjusted*	4.33	2.55	5.53	4.73	17.14	6.82	4.42	14.46
Earnings per share adj. (in €)*	0.16	0.10	0.21	0.18	0.65	0.26	0.17	0.55
Earnings per share (in €)	0.09	0.02	0.13	0.14	0.38	0.20	0.26	0.34
Employees (in FTE)	5,460	5,585	5,754	5,986	5,986	6,225	6,806	7,286

*Adjusted for non-operational effects from M&A activities (EBITDA) plus applicable tax effects (net income and EPS)

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18 Minor variances due to rounding possible

Consolidated income statement

in €	9M/2021	9M/2020	∆%
Revenue	405,392,662.24	327,043,832.13	24%
Other operating income	8,134,752.86	9,677,262.76	-16%
Cost of purchased services	56,787,837.48	35,050,721.46	62%
Personnel expenses	276,159,101.62	237,444,843.20	16%
Other operating expenses	36,344,783.36	36,422,655.38	0%
Result from operating activities before depreciation and amortisation	44,235,692.64	27,802,874.85	59%
Depreciation and amortisation of intangible assets and property, plant and equipment	15,323,985.33	17,066,486.79	-10%
Result from operating activities	28,911,707.31	10,736,388.06	>100%
Result of investments accounted for using the equity method	-39,999.00	0.00	n/a
Interest income	372,722.56	210,371.61	77%
Interest expenses	1,116,052.68	1,901,378.42	-41%
Financial result	-783,329.12	-1,691,006.81	54%
Earnings before taxes	28,128,378.19	9,045,381.25	>100%
Income taxes	7,039,756.66	2,661,099.73	>100%
Net income for the period	21,088,621.53	6,384,281.52	>100%
Earnings per share – basic	0.80	0.24	>100%

Consolidated cash flow statement

in €	9 M / 2 0 2 1	9 M / 2 0 2 0	∆%
Net income for the period	21,088,621.53	6,384,281.52	>100%
Income taxes	7,039,756.66	2,661,099.73	>100%
Interest result	783,329.12	1,691,006.81	-54%
Income taxes paid	-4,392,690.41	-4,937,011.54	11%
Income taxes received	2,041,732.22	1,985,168.49	3 %
Interest paid	-498,961.42	-758,527.89	34%
Interest received	327,974.67	197,297.04	66%
Depreciation and amortisation of intangible assets and property, plant and equipment	15,323,985.33	17,066,486.79	-10%
Net proceeds on disposal of intangible assets and property, plant and equipment	131,741.21	211,644.74	-38%
Net proceeds on disposal of financial assets	-97,820.82	-433,059.99	77%
Other non-cash expenses and income	-2,545,982.71	-1,732,709.29	-47%
Change in trade receivables	542,719.95	32,563,990.55	-98%
Change in contract assets	-24,629,084.57	-9,110,282.97	< -100%
Change in other assets	821,898.99	-3,669,483.25	>100%
Change in provisions	18,795,248.46	2,541,700.43	>100%
Change in trade payables	-2,339,440.78	-3,841,050.90	39%
Change in contract liabilities	-8,139,301.28	-12,672,884.99	36%
Change in other liabilities	6,714,613.73	3,039,988.61	>100%
C ash f low f rom operat ing act ivit ies	3 0 ,9 6 8 ,3 3 9 .8 8	3 1,18 7,6 53 .8 9	- 1%
Proceeds from disposal of property, plant and equipment	70,745.82	16,557.12	>100%
Proceeds from disposal of financial assets	97,820.82	433,059.99	-77%
Capital expenditure for intangible assets	-200,665.64	-338,694.34	41%
Capital expenditure for property, plant and equipment	-4,815,712.53	-3,063,069.88	-57%
Capital expenditure for financial investments	-40,000.00	0.00	n/a
Cash outflows for acquisitions of consolidated companies net of cash and cash equivalents acquired	0.00	-5,976,613.29	100%
C ash f low f rom invest ing act ivit ies	- 4 ,8 8 7,8 11.53	- 8 ,9 2 8 ,76 0 .4 0	4 5%
Proceeds from borrowing	8,000,000.00	3,321,918.65	>100%
Cash outflows from loan repayments	-27,235,344.92	-8,551,356.71	< -100%
Cash outflows from repayment of lease liabilities	-7,021,889.05	-8,318,921.92	16%
Dividends to shareholders	-5,265,189.20	-5,265,189.20	0 %
C ash f low f rom f inancing act ivit ies	- 3 1,52 2 ,4 2 3 .17	- 18 ,8 13 ,54 9 .18	- 6 8 %
Effect of foreign exchange rate changes on cash and cash equivalents	1,390,619.79	-3,655,906.11	>100%
N et increase in cash and cash equivalent s	- 4 ,0 51,2 75.0 4	- 2 10 ,56 1.8 0	< - 10 0 %
Cash and cash equivalents at beginning of period	70,872,920.04	56,143,932.27	26%
C ash and cash equivalent s at end of period	6 6 ,8 2 1,6 4 5.0 0	55,9 3 3 ,3 70 .4 7	19 %

Consolidated balance sheet

A sset s				Equit y and liabilit ies
in €	3 0 / 0 9 / 2 0 2 1	3 1/ 12 / 2 0 2 0	∆%	in €	3 0 / 0 9 / 2 0 2 1	3 1/ 12 / 2 0 2 0	∆%
N on- current asset s				Shareholders' equit y
Goodwill	122,582,984.49	120,013,331.55	2 %	Share capital	26,325,946.00	26,325,946.00	0 %
Other intangible assets	11,706,449.87	15,734,379.74	-26%	Capital reserve	42,147,782.15	42,147,782.15	0 %
Property, plant and equipment	54,514,574.75	67,542,952.10	-19%	Retained earnings	88,309,708.12	72,486,275.79	22%
Financial investments	264,950.28	10,000.00	>100%	Other reserves	-8,404,992.71	-12,823,318.77	34%
Other financial assets	1,547,473.92	1,441,660.63	7%		14 8 ,3 78 ,4 4 3 .56	12 8 ,13 6 ,6 8 5.17	16 %
Deferred tax assets	11,634,436.72	9,904,178.28	17%	N on- current liabilit ies
Income tax assets	346,088.39	383,839.71	-10%	Financing liabilities	47,581,532.80	67,822,936.64	-30%
Other assets	3,889,712.77	4,270,727.75	-9%	Other financial liabilities	25,149,880.19	38,443,861.35	-35%
	2 0 6 ,4 8 6 ,6 71.19	2 19 ,3 0 1,0 6 9 .76	- 6 %	Provisions for pensions	9,316,141.18	9,227,304.35	1%
C urrent asset s				Other provisions	5,763,189.34	2,467,048.25	>100%
Inventories	20,861.91	29,782.59	-30%	Deferred tax liabilities	3,251,369.51	4,122,662.74	-21%
Trade receivables	92,561,647.92	93,104,367.87	-1%	Other liabilities	3,004,306.37	1,909,429.46	57%
Contract assets	34,458,386.34	9,829,301.77	>100%		9 4 ,0 6 6 ,4 19 .3 9	12 3 ,9 9 3 ,2 4 2 .79	- 2 4 %
Cash and cash equivalents	66,821,645.00	70,872,920.04	-6%	C urrent liabilit ies
Other financial assets	2,690,662.09	2,405,191.03	12%	Trade payables	7,536,281.92	9,875,722.70	-24%
Income tax assets	6,028,681.84	7,266,062.00	-17%	Financing liabilities	35,356,210.24	34,396,394.01	3 %
Other assets	11,237,524.20	12,060,771.88	-7%	Other financial liabilities	16,180,100.19	13,523,893.84	20%
	2 13 ,8 19 ,4 0 9 .3 0	19 5,56 8 ,3 9 7.18	9 %	Other provisions	56,324,405.60	40,618,259.97	39%
				Income tax liabilities	6,656,521.42	3,071,078.70	>100%
				Contract liabilities	29,096,927.48	37,236,228.76	-22%
				Other liabilities	26,710,770.69	24,017,961.00	11%
					177,8 6 1,2 17.54	16 2 ,73 9 ,53 8 .9 8	9 %
	4 2 0 ,3 0 6 ,0 8 0 .4 9 4 14 ,8 6 9 ,4 6 6 .9 4		1%			4 2 0 ,3 0 6 ,0 8 0 .4 9 4 14 ,8 6 9 ,4 6 6 .9 4	1%

A sset s				Equit y and liabilit ies
in €	3 0 / 0 9 / 2 0 2 1	3 1/ 12 / 2 0 2 0	∆%	in €	3 0 / 0 9 / 2 0 2 1	3 1/ 12 / 2 0 2 0	∆%
N on- current asset s				Shareholders' equit y
Goodwill	122,582,984.49	120,013,331.55	2 %	Share capital	26,325,946.00	26,325,946.00	0 %
Other intangible assets	11,706,449.87	15,734,379.74	-26%	Capital reserve	42,147,782.15	42,147,782.15	0 %
Property, plant and equipment	54,514,574.75	67,542,952.10	-19%	Retained earnings	88,309,708.12	72,486,275.79	22%
Financial investments	264,950.28	10,000.00	>100%	Other reserves	-8,404,992.71	-12,823,318.77	34%
Other financial assets	1,547,473.92	1,441,660.63	7%		14 8 ,3 78 ,4 4 3 .56	12 8 ,13 6 ,6 8 5.17	16 %
Deferred tax assets	11,634,436.72	9,904,178.28	17%	N on- current liabilit ies
Income tax assets	346,088.39	383,839.71	-10%	Financing liabilities	47,581,532.80	67,822,936.64	-30%
Other assets	3,889,712.77	4,270,727.75	-9%	Other financial liabilities	25,149,880.19	38,443,861.35	-35%
	2 0 6 ,4 8 6 ,6 71.19	2 19 ,3 0 1,0 6 9 .76	- 6 %	Provisions for pensions	9,316,141.18	9,227,304.35	1%
C urrent asset s				Other provisions	5,763,189.34	2,467,048.25	>100%
Inventories	20,861.91	29,782.59	-30%	Deferred tax liabilities	3,251,369.51	4,122,662.74	-21%
Trade receivables	92,561,647.92	93,104,367.87	-1%	Other liabilities	3,004,306.37	1,909,429.46	57%
Contract assets	34,458,386.34	9,829,301.77	>100%		9 4 ,0 6 6 ,4 19 .3 9	12 3 ,9 9 3 ,2 4 2 .79	- 2 4 %
Cash and cash equivalents	66,821,645.00	70,872,920.04	-6%	C urrent liabilit ies
Other financial assets	2,690,662.09	2,405,191.03	12%	Trade payables	7,536,281.92	9,875,722.70	-24%
Income tax assets	6,028,681.84	7,266,062.00	-17%	Financing liabilities	35,356,210.24	34,396,394.01	3 %
Other assets	11,237,524.20	12,060,771.88	-7%	Other financial liabilities	16,180,100.19	13,523,893.84	20%
	2 13 ,8 19 ,4 0 9 .3 0	19 5,56 8 ,3 9 7.18	9 %	Other provisions	56,324,405.60	40,618,259.97	39%
				Income tax liabilities	6,656,521.42	3,071,078.70	>100%
				Contract liabilities	29,096,927.48	37,236,228.76	-22%
				Other liabilities	26,710,770.69	24,017,961.00	11%
					177,8 6 1,2 17.54	16 2 ,73 9 ,53 8 .9 8	9 %
		4 2 0 ,3 0 6 ,0 8 0 .4 9 4 14 ,8 6 9 ,4 6 6 .9 4	1%			4 2 0 ,3 0 6 ,0 8 0 .4 9 4 14 ,8 6 9 ,4 6 6 .9 4	1%

21 Minor variances due to rounding possible

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Consolidated statement of comprehensive income

in €	9M/2021	9M/2020	∆%
Net income for the period	21,088,621.53	6,384,281.52	>100%
Items that w ill not be reclassified to the income statement
Remeasurement of defined benefit plans	0.00	118,448.95	-100%
Income taxes on remeasurement of defined benefit plans	0.00	-27,334.37	100%
Items that may be reclassified to the income statement
Currency translation	4,418,326.06	-11,245,698.12	>100%
Other comprehensive income	4,418,326.06	-11,154,583.54	>100%
Total comprehensive income	25,506,947.59	-4,770,302.02	>100%

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Consolidated statement of changes in equity

	Share capital	C apital reserve	etained earnings 1 R	Other reserves	T o tal equity
in €				C urrency translatio n
B alance at 1 January 2020	26,325,946.00	42,147,782.15	67,590,439.82	-2,922,395.55	133,141,772.42
Net income for the period	--	--	6,384,281.52	--	6,384,281.52
Other comprehensive income	--	--	91,114.58	-11,245,698.12	-11,154,583.54
T o tal co mprehensive inco me	- -	- -	6,475,396.10	-11,245,698.12	-4,770,302.02
Dividends to shareholders	--	--	-5,265,189.20	--	-5,265,189.20
B alance at 30 September 2020	26,325,946.00	42,147,782.15	68,800,646.72	-14,168,093.67	123,106,281.20
B alance at 1 January 2021	26,325,946.00	42,147,782.15	72,486,275.79	-12,823,318.77	128,136,685.17
Net income for the period	--	--	21,088,621.53	--	21,088,621.53
Other comprehensive income	--	--	0.00	4,418,326.06	4,418,326.06
T o tal co mprehensive inco me	- -	- -	21,088,621.53	4,418,326.06	25,506,947.59
Dividends to shareholders	--	--	-5,265,189.20	--	-5,265,189.20
B alance at 30 September 2021	26,325,946.00	42,147,782.15	88,309,708.12	-8,404,992.71	148,378,443.56

¹ Retained earnings also include items that will not be reclassified to the consolidated income statement. Actuarial gains/losses from the remeasurement of defined benefit plans amounted to 0.00 € net of tax in the first nine months of 2021(9M/2020: 91,114.58 €).

Interim Statement Backup 9M/2021

Segment report

	A mericas, UK & A P A C		C o ntinental Euro pe		T o tal segments		R eco nciliatio n		GF T Gro up
in € thsd.	9M / 2021	9M / 2020	9M / 2021	9M / 2020	9M / 2021	9M / 2020	9M / 2021	9M / 2020	9M / 2021	9M / 2020
External revenue	223,097	157,387	182,138	169,396	405,235	326,783	158	261	405,393	327,043
Intersegment revenue	6,165	7,846	54,470	41,922	60,635	49,768	-60,635	-49,768	0	0
T o tal revenue	229,262	165,233	236,608	211,318	465,870	376,551	-60,477	-49,507	405,393	327,043
Segment result (EB T )	16,908	5,909	15,817	4,604	32,725	10,513	-4,597	-1,468	28,128	9,045
thereof depreciation and amortisation thereof interest income	-5,815 372	-6,380 178	-8,358 67	-9,148 32	-14,173 439	-15,528 210	-1,151 -66	-1,538 0	-15,324 373	-17,066 210
thereof interest expenses	-765	-1,027	-567	-1,123	-1,332	-2,150	216	249	-1,116	-1,901

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