Business description

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

Stock data

Market cap.€543.1m
Last close€20.63
High / Low (52 weeks)€22.0 / €16.4
Stock market listingDE
Forecast net debt (€m)24.6
Forecast gearing ratio (%)18

Price performance

Relative *11.1(1.3)(21.2)

* % 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

GFT and Fidor forge innovation partnership

Tue, 13 Sep 2016 08:26:15 GMT

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

Thu, 25 May 2017 14:15:00 GMT

GFT Supports Lombard Risk in the Execution of Its Global Collateral Strategy

Thu, 17 Nov 2016 09:00:00 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 17.3 9.8
2016A 422.6 46.8 39.2 115.4 17.9 18.9
2017E 455.0 48.5 41.6 116.9 17.6 11.5
2018E 500.5 54.5 46.2 129.9 15.9 10.4

Last updated on 21/04/2017

Investment summary

GFT remains on target and thematic trends are broadly the same. Underlying Q1 revenue growth was solid at 13.3%, helped by 3% more days in the period, and management guidance was maintained. GFT’s retail banking activities remain buoyant, benefiting from digital banking projects in continental Europe and the group’s first retail banking project in the US, while the investment banking backdrop remains challenging, not helped by Brexit and the political changes in the US. With the sustained healthy outlook in digitalisation across the retail banking sector and the prospect of a recovery for the investment banking market (since these businesses need to invest in IT to sustain growth), we believe the shares are looking increasingly appealing on c 13x our FY19e earnings.

Last updated on 12/05/2017

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 02/05/2017

Key management

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

Company address

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