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.€479m
Last close€18.20
High / Low (52 weeks)€32.3 / €16.4
Stock market listingDE
Forecast net debt (€m)23.7
Forecast gearing ratio (%)16
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(14.5)(16.6)(18.2)
Relative *(15.7)(14.3)(6.5)

* % 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

Financial Service Sector Boosts GFT Group Nine-Month Results

Thu, 12 Nov 2015 17:15:00 GMT

German Technology Provider GFT Launches New RegTech Solution

Wed, 18 May 2016 09:00:00 GMT

GFT reports double-digit revenue and earnings growth

Thu, 03 Mar 2016 14:41:23 GMT

Investment summary

GFT reported a solid Q1, with constant currency organic growth of 7.6%. This was slightly below the long-term trend, as the group saw some deferrals in Anglo Saxon regions due to poor results in the investment banking sector and uncertainty relating to the imminent UK vote on the EU. We edged our forecasts up with the inclusion of Habber Tec Brazil, which GFT acquired in early April. On the issue of Brexit, clearly there is a risk of further contract deferrals, especially if bank shares remain depressed. However, Brexit could potentially generate additional business for the group, as banks would likely reshape their operations. GFT says it expects banks’ IT decision making to remain in London, while some operations could shift to the regions. In our view, if management can continue to maintain the momentum, the stock looks attractive, trading on c 15x our FY17e earnings.

Last updated on 06/07/2016

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 06/07/2016

Key management

Ulrich Dietz, Chairman & CEO
Jochen Ruetz , CFO

Company address

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