GFT (GFT)

Business description

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

Stock data

Market cap.€515.2m
Last close€19.57
High / Low (52 weeks)€32.3 / €16.4
Stock market listingDE
Forecast net debt (€m)22.7
Forecast gearing ratio (%)16
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual7.2(7.6)2.1
Relative *3.9(10.4)(1.8)

* % Relative to local index

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Company news

GFT Technologies SE: GFT accelerates dynamic growth in Q2 2016 with 23 percent ...

Thu, 11 Aug 2016 05:21:42 GMT

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

German Technology Provider GFT Launches New RegTech Solution

Wed, 18 May 2016 09:11:10 GMT

Financial Service Sector Boosts GFT Group Nine-Month Results

Thu, 12 Nov 2015 17:15:00 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2014A 279.2 32.8 30.9 96.5 20.3 22.0
2015A 373.5 44.6 38.7 119.5 16.4 9.5
2016E 420.0 46.5 38.9 115.2 17.0 11.1
2017E 460.0 52.9 45.2 125.4 15.6 9.7

Last updated on 15/08/2016

Investment summary

Revenue growth picked up in Q2, despite the challenging banking sector backdrop, as strong demand for digitisation projects in the commercial banking sector in Europe outweighed project deferrals in the Anglo Saxon investment banking markets. Consequently, management edged up revenue guidance but eased profit guidance. Management expects investment banking IT activity to recover in H2 or FY17, as the sector needs to invest in IT to remain competitive. We have lowered our EPS in FY16 and FY17, while FY18 is broadly maintained. Given that management’s long-term outlook is sustained, we believe the shares are attractive on c 14x our FY18 earnings.

Last updated on 15/08/2016

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 02/08/2016

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