GFT (GFT)

Business description

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

Stock data

Market cap.€483.6m
Last close€18.37
High / Low (52 weeks)€22.0 / €16.4
Stock market listingDE
Forecast net debt (€m)24.6
Forecast gearing ratio (%)18
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual3.9(8.8)(17.5)
Relative *0.2(13.4)(31.7)

* % Relative to local index

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Company news

BRIEF-GFT Technologies says 2017 profit guidance is below market expectations

Wed, 01 Mar 2017 16:52:30 GMT

GFT Joins Google Cloud Platform's Partner Programme to Drive Real-world ...

Fri, 23 Sep 2016 04:02:20 GMT

Checking The Gross Margin Score on GFT Technologies SE (XTRA:GFT)

Thu, 27 Apr 2017 13:07:30 GMT

GFT Technologies SE (XTRA:GFT) Stock Update & Valuation Review

Fri, 28 Apr 2017 12:56:15 GMT

GFT and Fidor forge innovation partnership

Tue, 13 Sep 2016 09:06:27 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 373.5 44.6 38.6 119.4 15.4 8.7
2016A 422.6 46.8 39.2 115.4 15.9 16.8
2017E 455.0 48.5 41.6 116.9 15.7 10.2
2018E 500.5 54.5 46.2 129.9 14.1 9.3

Last updated on 31/03/2017

Investment summary

While GFT reported FY16 revenues and EBITDA slightly ahead of our forecasts, the shares fell in response to unexpectedly weak FY17 guidance and higher than expected debt. The guidance reflected the challenging investment banking backdrop, which has been holding back profits in the UK and North America. Nevertheless, GFT’s retail banking activities remain buoyant, benefiting from digital banking projects in continental Europe, and management expects group growth to return to trend levels from FY18 on digitisation strength and recovering investment banking markets. Hence, we believe the shares look attractive on c 14x our FY18 earnings.

Last updated on 31/03/2017

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, Brazil and Costa Rica.

Last updated on 02/03/2017

Key management

Ulrich Dietz, Chairman & CEO
Jochen Ruetz , CFO
Andrea Wlcek, Director Corporate Marketing

Company address

Filderhauptstra├če 142,
Stuttgart
70599
Germany
+49 711 62042-0
View website