Original-Research: GFT Technologies SE (von Quirin Privatbank Kapitalmarktgeschäft): Buy
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Original-Research: GFT Technologies SE - from Quirin Privatbank Kapitalmarktgeschäft
Classification of Quirin Privatbank Kapitalmarktgeschäft to GFT Technologies SE
Mixed picture but mid-term targets remain intact On July 23, GFT Technologies released its preliminary H1 2025 results and lowered its guidance for 2025. Revenue growth was weak (+2.8% yoy) and 2.0% below our expectation. The increase was mainly driven by organic growth (+6.0% yoy) and supported by strong demand in the Americas and APAC, particularly in Brazil, USA, Canada and Colombia, as well as by solid performance in the Insurance sector (+20.0% yoy) and Industry & Others (+11.0% yoy). Additional drivers included the expansion of the GenAI product Wynxx and the recent acquisition of Megawork. However, adverse currency effects (-4.0%), weak performance in Europe (-6.0% yoy) and especially the UK (-19.0% yoy), and a slight decline in the Banking sector (-2.0% yoy) weighed on revenues. The EBT margin declined from 7.0% to 4.3%, below our estimate of 5.4%. The margin decrease was mainly driven by FX headwinds, the absence of last year’s one-off gain, and restructuring measures in the UK and at GFT Software Solutions. The company lowered its revenue guidance to EUR 885m (previously: EUR 930m), 4.8% below our estimate, and now expects an adjusted EBIT of EUR 65m and EBT of EUR 45m, implying an EBT margin of 5.1% versus our estimate of 6.5%. The downgrade reflects FX headwinds and restructuring measures, while growth should be supported by AI initiatives, the Megawork acquisition and expansion in high-value services. We view the reaffirmed 2029 targets as supportive for the long-term investment case despite near-term challenges. We decrease our target price to EUR 32 (previously EUR 38) and confirm our Buy recommendation. You can download the research here: GFT_TECHNOLOGIES_SE_20250728 For additional information visit our website: https://research.quirinprivatbank.de/ Contact for questions: Quirin Privatbank AG Institutionelles Research Schillerstraße 20 60313 Frankfurt am Main research@quirinprivatbank.de https://research.quirinprivatbank.de/
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2175504 28.07.2025 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | ||
| Sales1 | 428,98 | 444,85 | 566,19 | 730,14 | 801,74 | 870,92 | 885,00 | |
| EBITDA1,2 | 44,89 | 39,70 | 60,75 | 86,04 | 89,76 | 93,95 | 88,00 | |
| EBITDA-Margin3 | 10,46 | 8,92 | 10,73 | 11,78 | 11,20 | 10,79 | 9,94 | |
| EBIT1,4 | 21,33 | 16,33 | 40,92 | 65,55 | 68,40 | 70,99 | 65,00 | |
| EBIT-Margin5 | 4,97 | 3,67 | 7,23 | 8,98 | 8,53 | 8,15 | 7,35 | |
| Net Profit (Loss)1 | 13,66 | 9,94 | 29,89 | 46,25 | 48,36 | 46,48 | 40,00 | |
| Net-Margin6 | 3,18 | 2,23 | 5,28 | 6,33 | 6,03 | 5,34 | 4,52 | |
| Cashflow1,7 | 36,18 | 60,25 | 52,99 | 57,49 | 40,44 | 72,42 | 65,00 | |
| Earnings per share8 | 0,52 | 0,38 | 1,14 | 1,76 | 1,84 | 1,77 | 1,52 | |
| Dividend per share8 | 0,20 | 0,20 | 0,35 | 0,45 | 0,50 | 0,50 | 0,50 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: Deloitte
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| GFT Technologies | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| 580060 | DE0005800601 | SE | 461,76 Mio € | 28.06.1999 | Kaufen | 8FWFP559+5Q |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 10,32 | 20,48 | 0,50 | 13,43 | 1,93 | 6,38 | 0,53 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,50 | 0,50 | 0,50 | 2,79% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 05.06.2025 | 08.05.2025 | 07.08.2025 | 13.11.2025 | 28.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -1,10% | -13,43% | -19,00% | -16,16% | +133,38% |
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