GFT Group (GFT)

Business description

GFT Group is a global technology services and recruitment business primarily focused on banks and insurance companies.

Stock data

Market cap.€557.4m
Last close€21.17
High / Low (52 weeks)€32.3 / €17.8
Stock market listingDE
Forecast net debt (€m)12.6
Forecast gearing ratio (%)9
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(3.1)(9.3)11.3
Relative *(2.3)(17.1)28.907

* % Relative to local index

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Company news

BRIEF-GFT Technologies buys Habber Tec Brazil business

Tue, 12 Apr 2016 07:54:10 GMT

MOVES-Paul Harrington joins GFT Group as principal consultant

Tue, 15 Dec 2015 10:37:19 GMT

German Technology Provider GFT Launches New RegTech Solution

Wed, 18 May 2016 09:00:00 GMT

Financial Service Sector Boosts GFT Group Nine-Month Results

Thu, 12 Nov 2015 17:15:00 GMT

GFT reports double-digit revenue and earnings growth

Thu, 03 Mar 2016 14:41:23 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 279.2 35.2 30.8 96.2 22.0 23.8
2015A 373.5 45.5 38.7 119.5 17.7 10.3
2016E 410.0 48.6 40.7 120.6 17.6 11.5
2017E 451.0 53.3 45.4 125.8 16.8 10.4

Last updated on 22/04/2016

Investment summary

GFT has acquired WG Systems, which trades as Habber Tec Brazil, from Habber Tec International Group for an undisclosed sum. Founded in 2000, Habber Tec Brazil specialises on the implementation and ongoing support of business process management (BPM), big data, analytics and mobile solutions and is Brazil’s largest IBM partner for BPM. It adds expertise in BPM integration and mobile solutions, especially in the fields of credit and digital banking applications. In 2015, it generated revenues of R22.4m (c €5.4m), of which financial services accounted for c 60%. FY16 revenues are expected to grow by c 29% to c R29m (c €7m). Habber Tec Brazil has c 105 employees, and therefore takes GFT's headcount to c 4,155, including 559 in Brazil. We will incorporate the transaction into our forecasts following the Q1 results on 12 May. In our view, if management can continue to maintain the momentum, the stock looks attractive, trading on c 17x our FY17e EPS.

Last updated on 03/05/2016

Industry outlook

GFT provides consulting and IT services, primarily to commercial and investment banks. It benefits from high levels of IT spending and complex business requirements in the financial services industry. It also benefits from favourable outsourcing trends in banking and has integrated near/farshore hubs in Spain, Poland and Brazil.

Last updated on 03/05/2016

Key management

Ulrich Dietz, Chairman & CEO
Jochen Ruetz , CFO

Company address

Filderhauptstraße 142,
Stuttgart
70599
Germany
+49 711 62042-0
View website