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.€297m
Last close€11.28
High / Low (52 weeks)€11.4 / €4.8
Stock market listingDE
Forecast net debt (€m)26.3
Forecast gearing ratio (%)25
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual13.012.9130.2
Relative *13.617.6111.6

* % Relative to local index

Other companies in sector Show

Acal accesso Technology Group
ADVA Optical Networking Advanced Computer Software Group
Advanced Micro Devices AIXTRON
Allocate Software Allot Communications
Alpha and Omega Semiconductor Amazon
Amino Technologies ANADIGICS
Arria NLG blinkx
blur Group Brady
CENIT CML Microsystems
Comptel Craneware
Cypress Semiconductor DDD Group
Dillistone Group dotDigital
DSP Group e2v technologies
Eckoh Elmos Semiconductor
EMIS Emulex
Endace EnWave Corporation
Esker Evolving Systems
Facebook FFastFill
First Derivatives Focus Solutions Group
Fusionex International GB Group
GBST Holdings Globo
GO internet S.p.a. Himax Technologies
ifa systems Infinera
Inmarsat Innovation Group
InVision IS Solutions
IXYS K3 Business Technology Group
LRAD Corporation Magix
Manpower Software Manz
Maxima Holdings Medicsight
Micro Focus International Micron Technology
Monitise Montage Technology
Morse Netcall
NetDimensions Netflix
Nexus Management O2Micro International
OMG OmniVision Technologies
Optimal Payments Outsourcery
Patsystems Pericom Semiconductor
PLX Technology Prodware
PSI Pure Wafer
QSC Redstone
Reed Elsevier Regenersis
RM SCISYS
Secunet Seeing Machines
Sepura Seven Principles
Siemens Sigma Designs
Silicom Silicon Image
SimiGon Single Touch Systems
SinnerSchrader SLI Systems
Software AG Solera
Spansion Spirent Communications
SQS Software Quality Systems AG StatPro Group
Store Electronic Systems SuperCom
Synchronica Technology sector
Texas Instruments Thin Film Electronics
Tikit Group Toumaz
TXT e-solutions TZ Limited
Ubisense Group United Power Technology
VASCO Data Security Virtual Piggy
Vislink Vizrt
WANdisco WorkPlace Systems International
Xploite Xplore Technologies Corp
Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2012A 230.7 10.8 9.6 21.9 51.5 N/A
2013A 264.3 20.9 18.5 55.3 20.4 N/A
2014E 352.0 31.0 25.3 67.3 16.8 N/A
2015E 403.9 37.2 32.0 85.0 13.3 N/A

Last updated on 25/09/2014

Latest research

Cautiously optimistic

Update | Technology | 11/08/2014

Daily comment

Institutional Comment | Technology | 09/07/2014

Rule Financial is a neat fit

Update | Technology | 04/07/2014

GFT solutions unit jumps 40% organically in Q1

Update | Technology | 14/05/2014

Daily comment

Institutional Comment | Technology | 17/04/2014

Outlook remains healthy

Update | Technology | 15/04/2014

GFT Solutions organic growth 30% in Q3

Update | Technology | 18/11/2013

Strong growth from GFT Solutions

Update | Technology | 14/08/2013

IT consulting and outsourcing for global banks

Outlook | Technology | 03/07/2013

Pre-tax profits up 10%

QuickView | Technology | 20/03/2013

Investment summary

GFT Group posted strong H1 results, with organic revenue growth of 18% and margins strengthened in both divisions. GFT, the group’s solutions business, continued to grow apace, with H1 organic revenue growth of 32% (40% in Q1 and 26% in Q2), while emagine saw a small revenue decline but returned to profit. In late June, GFT Group acquired Rule Financial, a UK-based provider of consultancy and IT services to investment banks, for c €60m. In our view, the Rule acquisition provides additional avenues for the group to leverage growth internationally and increase margins. We are maintaining our forecasts, which are based on conservative assumptions and we believe the c 13x FY15e P/E and 2.3% yield look attractive.

Last updated on 30/09/2014

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. The group's staffing business, emagine, sources skilled IT specialists and engineering staff for technology projects in the financial and corporate sectors.

Last updated on 30/09/2014

Key management

Ulrich Dietz, Chairman & CEO
Jochen Ruetz , CFO

Company address

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