GFT Group (GFT)

Business description

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

Share price chart

Share chart

Stock data

Market cap.€456.8m
Last close€17.35
High / Low (52 weeks)€18.6 / €8.3
Stock market listingDE
Forecast net debt (€m)20.4
Forecast gearing ratio (%)18
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(0.9)27.6118.0
Relative *0.58.169.3

* % Relative to local index

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Company news

BRIEF-GFT Technologies FY 2014 revenue up 38 pct to EUR 365.32 mln

Thu, 05 Mar 2015 06:55:02 GMT

BRIEF-GFT Technologies FY EBITDA to beat forecast at 34.64 mln euros

Wed, 04 Mar 2015 17:14:21 GMT

GFT acquires Rule Financial

Thu, 26 Jun 2014 10:52:30 GMT

BRIEF-Deutsche Boerse says GFT replaces Kontron in TECDAX on March 23

Wed, 04 Mar 2015 21:15:08 GMT

GFT Group posts strong revenue and earnings growth for financial year 2014 ...

Mon, 09 Mar 2015 10:05:40 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2013A 264.3 N/A 18.5 55.3 31.4 N/A
2014A 365.3 N/A 32.8 97.7 17.8 N/A
2015E 425.0 N/A 36.0 97.1 17.9 N/A
2016E 440.2 N/A 39.2 105.8 16.4 N/A

Last updated on 19/03/2015

Latest research

Investment summary

GFT Group had an excellent FY14, with organic revenue growth of 16% and operating margin expansion of 220bp. The group’s traditional solutions business picked up pace in Q4, with organic revenue growth of 25%, up from 24% in Q3. GFT is not seeing any slowdown in its core markets, although we note that investment banks can cut their IT budgets at short notice. Hence, we have conservatively upgraded our forecasts in line with management's guidance. In our view, the valuation continues to look attractive at c 17x our FY16e earnings if management can sustain the growth momentum. Notably, GFT Technologies joined the TecDAX index of the 30 largest German technology companies on 23 March.

Last updated on 31/03/2015

Industry outlook

GFT generates the bulk of GFT Group's profits through providing consulting and IT services 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. An investment bank has been hired to begin a process of disposing the emagine recruitment business, which sources skilled IT specialists and engineering staff.

Last updated on 31/03/2015

Key management

Ulrich Dietz, Chairman & CEO
Jochen Ruetz , CFO

Company address

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