Inside information: Gofore Plc’s Business Review 1-31 October 2022: Net sales 14.6 million euros, eMundo acquisition expands international portfolio
Gofore Plc
8 November, 2022 at 2.40 p.m. EET
Inside Information
Inside information: Gofore Plc’s Business Review1-31 October2022:Net sales 14.6 million euros, eMundo acquisition expands international portfolio
In October 2022, Gofore’s net sales were 14.6 million euros (10.2 million euros in October 2021). The last 12 month (LTM) pro forma net sales were 141.9 million euros in October. The Group employed 1,159 (827) people at the end of the month.
CEO Mikael Nylund comments:
”In October, Gofore’s business developed much like our strong September. In line with our strategy, our sales efforts were focused on current, big customers, with whom we are planning for continuation of ongoing projects as well as new digitalization projects for next year.
In October, the ”secret sauce” of our sales success with existing customers was publicly awarded Knowledge-driven Leader Act of the year. Gofore manages customer relationships and customer experience with data, according to our Customer 360 concept. Data helps us make customer collaboration and customer value visible to all Goforeans, in real time. This continuously developing way of working is a significant part of the execution of Gofore’s growth strategy!
October’s biggest news is also related to our strategy, according to which we seek growth from acquisitions. On 27 October 2022, we communicated acquiring the entire share capital of digitalisation expert and software company eMundo for 8.0 million euros. The acquisition that was closed on 1 November strengthens Gofore’s position, offering, customer portfolio and growth potential in Germany and German-speaking Europe. eMundo stood out from potential target companies with their excellent customer portfolio with big, industry leading names such as BMW and Germany’s railway operator Deutsche Bahn, who also operate on the automotive industry and public transport that are relatively new to us. I look forward to the growth opportunities this brings!
The number of our employees keeps growing, and our recruiting success matched our expectations in October. The eMundo acquisition brought us over 90 new colleagues in the DACH area in beginning of November. The corona virus endemic that speeded up after the summer has been visible on our sick leave levels, but there was no clear spike in October statistics.
We continue to encourage our staff in locationless work that, in addition to remote work, also entails more and more focus on local communities. This is one of the reasons why in October we set up a small office in Malaga, Spain, where Finnish employees are also welcome. With the eMundo deal we also have e.g. nine offices in eight locations in Germany, Austria and Northern Italy. As we presented in the July September business review, we also continuously develop our domestic network.
Our operating environment is unchanged from the July-September business review, and the estimates on our near-term risks and their direct impacts on Gofore also remain the same.”
Key Figures
The numbers are unaudited.
Month (2022) | Net sales, MEUR (Net sales 2021)1 | Pro forma LTM Net sales2 | Number of employees at end of period3 | No. of working days in Finland | Full Time Equivalent, FTE4 | Subcontracting, FTE5 |
January | 10.8 (7.5) | 118.5 | 993 (727) | 20 (19) | 917 (697) | 147 (109) |
February | 11.3 (8.1) | 120.3 | 1,015 (736) | 20 (20) | 942 (698) | 153 (111) |
March | 13.3 (9.7) | 122.9 | 1,043 (792) | 23 (23) | 968 (735) | 155 (118) |
April | 11.5 (8.5) | 125.0 | 1,056 (791) | 19 (20) | 988 (743) | 156 (112) |
May | 13,1 (8.8) | 128,3 | 1,068 (799) | 21 (20) | 1,004 (755) | 163 (109) |
June | 12.5 (9.1) | 130.8 | 1,074 (803) | 21 (21) | 1,015 (755) | 162 (108) |
July | 4.1 (2.7) | 131.8 | 1,062 (797) | 21 (22) | 1,004 (746) | 78 (38) |
August | 12.9 (8.5) | 135.2 | 1,086 (803) | 23 (22) | 1,016 (746) | 156 (105) |
September | 14.8 (10.4) | 138.5 | 1,126 (814) | 22 (22) | 1,016 (757) | 183 (119) |
October | 14.6 (10.2) | 141.9 | 1,159 (827) | 21 (21) | 1,092 (763) | 186 (133) |
Unless otherwise stated, comparing figures presented in brackets refer to the corresponding period of the previous year. Devecto Oy’s figures have been consolidated into Gofore Group’s figures as of 3 January, 2022.
1) Net sales, MEUR (net sales in 2021) indicates the unaudited net sales for the month in question.
2) The last twelve months (LTM) pro forma net sales figure that the company uses tells the net sales for the Group structure of the time of reporting. The pro forma net sales include the impact of acquisitions and divestments and is unaudited.
3) Number of employees at the end of the review period.
4) Overall Capacity, FTE (Full Time Equivalent) figure shows the overall capacity of the Group's personnel, converted into a value corresponding to the number of full-time employees. The figure includes the entire personnel, regardless of their role. The figure is not affected by annual leave, time-off in lieu of overtime, sick leave or other short-term absences. Part-time agreement sand other long-term deviations from normal working hours reduce the amount of overall capacity in comparison with the total number of employees. The personnel capacity of corporate acquisitions has been accounted for as of the date of the acquisition.
5) Subcontracting, FTE (Full Time Equivalent) figure shows the overall amount of subcontracting used in invoiceable work, converted into a value corresponding to the number of full-time employees. The subcontracting of the companies acquired by Gofore has been accounted for as of the date of the acquisition.
Gofore’s financial reporting
In its monthly business review, Gofore discloses its monthly net sales, last twelve-month pro forma net sales and number of employees with comparison figures, as well as other indicators that help evaluate the company’s growth strategy execution, such as the Full Time Equivalent (FTE) numbers that describe overall capacity and the ratio of subcontracting.
In its quarterly business reviews, Gofore also discloses its EBITA, adjusted EBITA and EBITA-% for the quarter in question along with comparison figures, its organic growth number for the reporting period, and e.g. income statement and balance sheet.
Business reviews are published as soon as possible after the numbers are confirmed at the beginning of the following month, with the exceptions of January’s numbers, included in the full-year financial statements release, March numbers, included in the January-March review, and July numbers, included in the half-year report.
Further information:
Mikael Nylund
CEO, Gofore Plc
tel. +358 40 540 2280
mikael.nylund@gofore.com
Gofore Plc is a digital transformation consultancy with over 1,000 impact-driven employees across Finland, Germany, Spain, and Estonia – top experts in our industry who are our company’s heart, brain, and hands. We use our holistic service offering - consulting, coding, design, and verification - as tools to incite positive change. We care for our people, our customers, and the surrounding world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2021, our net sales amounted to EUR 104.5 million. In 2022, Gofore is celebrating its 20th anniversary. Gofore Plc’s share is listed on the Nasdaq Helsinki Ltd. in Finland. Get to know us better at www.gofore.com.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Referat af ordinær generalforsamling17.4.2024 20:13:49 CEST | pressemeddelelse
Den 17. april 2024 blev der afholdt ordinær generalforsamling i Fast Ejendom Danmark A/S, CVR-nr. 28 50 09 71, hos Accura Advokatpartnerselskab, Alexandriagade 8, 2150 Nordhavn. Dagsorden 1. Valg af dirigent 2. Bestyrelsens beretning for regnskabsåret 2023 3. Fremlæggelse af årsrapport 2023 til godkendelse og forslag til resultatets anvendelse 4. Meddelelse af decharge til bestyrelsen og direktionen 5. Resultat af bestyrelsesevaluering 6. Fremlæggelse af vederlagspolitik til godkendelse 7. Præsentation af og vejledende afstemning om vederlagsrapporten 8. Godkendelse af vederlag til bestyrelsen for 2024 9. Valg af medlemmer til bestyrelsen 9a) Udvidelse af bestyrelsen fra 3 til 4 medlemmer 9b) Valg af medlemmer til bestyrelsen 10. Valg af revisor 11. Forslag fra bestyrelse eller aktionærer 11a) Bemyndigelse til bestyrelsen til at forhøje kapitalen ved kontant kapitalforhøjelse 11b) Bemyndigelse til bestyrelsen til at udstede konvertible gældsbreve 12. Bemyndigelse til generalforsamlinge
Grant of Incentive Subscription Rights in IDEX Biometrics 17 April 202417.4.2024 20:00:00 CEST | Press release
The board of directors of IDEX Biometrics ASA resolved on 17 April 2024 to issue 550,000 incentive subscription rights to employees in the IDEX Biometrics group. The grant was made under the company's 2023 incentive subscription rights plan as amended at the extraordinary general meeting on 21 December 2023. The exercise price of the subscription rights is NOK 0.15 per share and the SRs vest by 50% per year over two years. The SRs expire on 23 May 2028. Following the grant there are 18,023,725 subscription rights outstanding in IDEX Biometrics. Primary insiders IDEX discloses transactions by the following primary insider, who were granted incentive subscription rights (SRs) to IDEX shares ISIN NO0013107490: – CEO Vince Graziani was granted 250,000 SRs at NOK 0.15 per share – CTO Anthony Eaton was granted 150,000 SRs at NOK 0.15 per share – CCO Catharina Eklof was granted 150,000 SRs at NOK 0.15 per share For further information contact: Marianne Bøe, Head of Investor Relations E-mail:
Reykjavík Energy | Green Bond Auction Results17.4.2024 19:59:49 CEST | Press release
Today, April 17th, 2024, Reykjavík Energy (RE; Orkuveita Reykjavíkur) concluded a green bond auction in the green bond classes OR020934 GB and OR180255 GB. OR020934 GB bears fixed indexed interest and pays equal payments every six months with a final maturity date of September 2nd, 2034. Previously, bonds have been issued in the category with a nominal value of ISK 22,482 million. The series attracted bids totaling ISK 1,980 million nominal value at yields between 3.95-4.08%. OR accepted bids amounting to ISK 1,780 million at a yield of 4,02%. OR180255 GB bears fixed indexed interest and pays equal payments every six months with a final maturity date of February 18th, 2055. Previously, bonds in the category have been issued with a nominal value of ISK 30,521 million. The series attracted bids totaling ISK 1,315 million nominal value at yields between 3.40 -3.52%. OR accepted bids amounting to ISK 1,215 million at a yield of 3,50%. Fossar Investment Bank oversees the issuance and sale o
TGS and PGS Receive Norwegian Competition Clearance for Merger17.4.2024 19:15:00 CEST | Press release
OSLO, Norway (17 April 2024) - Reference is made to the joint stock exchange announcement on 18 September 2023 by TGS ASA ("TGS" or the "Company," OSE: TGS) and PGS ASA ("PGS," OSE: PGS) regarding the combination of the two companies (the "Merger") to establish the premier energy data company, as well as subsequent announcements on 25 October 2023 and 1 December 2023 regarding, respectively, the execution of the definitive merger agreement and approval by the extraordinary general meetings. As further announced in the update on 14 February 2024, the Merger has been subject to review by the competition authorities in the UK as well as in Norway. With respect to Norway, TGS and PGS are pleased to confirm that the Norwegian Competition Authority (the "NCA") today has provided its clearance of the Merger. With respect to the UK, the UK Competition Market Authority (the "CMA") is still in its phase I review. The deadline for the CMA to announce clearance or phase II review is 11 June 2024.
PGS and TGS receives Norwegian competition clearance for Merger17.4.2024 19:15:00 CEST | Press release
April 17, 2024, Oslo, Norway: Reference is made to the joint stock exchange announcement on 18 September 2023 by TGS ASA ("TGS" or the "Company," OSE: TGS) and PGS ASA ("PGS," OSE: PGS) regarding the combination of the two companies (the "Merger") to establish the premier energy data company, as well as subsequent announcements on 25 October 2023 and 1 December 2023 regarding, respectively, the execution of the definitive merger agreement and approval by the extraordinary general meetings. As further announced in the update on 14 February 2024, the Merger has been subject to review by the competition authorities in the UK as well as in Norway. With respect to Norway, TGS and PGS are pleased to confirm that the Norwegian Competition Authority (the "NCA") today has provided its clearance of the Merger. With respect to the UK, the UK Competition Market Authority (the "CMA") is still in its phase I review. The deadline for the CMA to announce clearance or phase II review is 11 June 2024. K