Interim report
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© 2025 | GFT Technologies SE and its affiliates. All rights reserved. Interim Statement Q1 2025 GFT Technologies SE | 8 May 2025
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2 Let’s Go Beyond_ gft.com Agenda Highlights | Marco Santos (Global CEO) Financials Q1 & Guidance 2025 | Dr Jochen Ruetz (CFO & deputy CEO) Conclusion | Marco Santos (Global CEO) Interim Statement Q1 2025 8 May 2025
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3 Let’s Go Beyond_ gft.com Solid start into 2025, guidance confirmed and 5-year strategy in execution HIGHLIGHTS Q1 8 May 2025 HighlightsInterim Statement Q1 2025 3 Strong growth in the USA & Canada, based on new major deals with Tier 1 banks, Asset Management and Insurance Business acceleration in Latin America, led by Tier 1 banks, Tier 1 insurance and successful completion of Sophos integration New long-term digital banking transformation contract with major bank in Dubai and business expansion in APAC Successful entry to the Robotics Industry with major AI contract in Global Leading Robotics Company based in Germany Strong adoption of GFT AI Impact (GenAI for SDLC) with licenses increasing from 315 to 440 in Q1 and +10,000 employees trained Structural challenges identified in UK and Software Solutions and transformational initiatives launched Google Cloud Partner of the Year 2025 in Germany and two additional prestigious FS Tech Awards ~ € 930m GUIDANCE 2025 +7% growth REVENUE e * NEW DEF.: Adjusted for M&A-related effects, personnel capacity adjustments, share-based management remuneration valuation effects and other extraordinary items; details on slides 31/32 and/or key performance indicators(gft.com) EBIT ADJ. e* ~ € 75m 8.1% EBIT adj. margin 6.8% EBIT adj. margin +4% growth REVENUE € 222m € 15m EBIT ADJ. * Q1 2025 RESULTS
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4 Let’s Go Beyond_ gft.com HIGHLIGHTS Q1 Solid start into 2025, guidance confirmed and 5-year strategy in execution 8 May 2025 HighlightsInterim Statement Q1 2025 4 Strong growth in the USA & Canada, based on new major deals with Tier 1 banks, Asset Management and Insurance Business acceleration in Latin America, led by Tier 1 banks, Tier 1 insurance and successful completion of Sophos integration New long-term digital banking transformation contract with major bank in Dubai and business expansion in APAC Successful entry to the Robotics Industry with major AI contract in Global Leading Robotics Company based in Germany Strong adoption of GFT AI Impact (GenAI for SDLC) with licenses increasing from 315 to 440 in Q1 and +10,000 employees trained Structural challenges identified in UK and Software Solutions and transformational initiatives launched Google Cloud Partner of the Year 2025 in Germany and two additional prestigious FS Tech Awards 5-YEAR STRATEGY & STRATEGIC INITIATIVES Global Delivery Platform | Smartshore | India Global Accounts and Tier 1 Customers Expansion Global Biz Dev. Platform | Improve Revenue Architecture Gravity Program AI-Centric Next Gen Tech Brand and Positioning
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5 Let’s Go Beyond_ gft.com Agenda Interim Statement Q1 2025 8 May 2025 Highlights | Marco Santos (Global CEO) Financials Q1 & Guidance 2025 | Dr Jochen Ruetz (CFO & deputy CEO) Conclusion | Marco Santos (Global CEO)
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6 Let’s Go Beyond_ gft.com New calculation of EBIT adjusted 8 May 2025 FinancialsInterim Statement Q1 2025 GFT has changed the calculation method of the EBIT adjusted from FY 2025 onwards in line with the practice of peer companies. Previous year’s figures per quarter are recalculated accordingly. The new calculation of the EBIT adjusted is as follows: EBIT adjusted - M&A effects - Capacity adjustments (NEW!) +/- Share price related effects from valuation of management remuneration +/- Other extraordinary items (NEW!) EBIT New EBIT adjusted definition: EBIT adjusted reflects the Group’s operating performance by excluding extraordinary effects, such as share price-based effects from the measurement of remuneration agreements, personnel capacity adjustments, impacts from business combinations, and other items outside the ordinary course of business. Effects from business combinations primarily include the amortization of identifiable intangible assets acquired through corporate transactions or separately acquired intellectual property, acquisition-related compensation to employees or selling shareholders, and transaction or integration costs impacting earnings. Gains/losses from the disposal of shareholdings are also included.
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7 Let’s Go Beyond_ gft.com Q1 2025 – Resilient top-line growth despite macro uncertainties 8 May 2025 FinancialsInterim Statement Q1 2025 Minor variances due to rounding possible Solid revenue growth of 4% (thereof: organic growth +5%, FX effects -3%, M&A +2%) Strong order backlog development with +14% EBIT adjusted down by 18% mainly due to Additional investments fostering future growth Higher social security contributions Lower R&D subsidies in various markets UK & Software Solutions business challenging; structural transformation initiatives started EBIT adjusted margin down to 6.8% (Q1/2024: 8.6%) Stable tax rate of 29% (Q1/2024: 29%) * Adjusted for M&A-related effects, capacity adjustments, share-based management remuneration effects, and other extraordinary items; details on slides 31/32 and/or key performance indicators (gft.com) in €m Q1/2025 Q1/2024 ∆ Revenue 221.91 212.39 4% Order backlog 462.25 404.58 14% EBITDA 15.99 21.81 -27% EBIT adjusted* 15.09 18.31 -18% EBIT adjusted margin 6.8% 8.6% EBIT 10.82 15.72 -31% EBT 10.01 15.00 -33% Net income 7.09 10.62 -33% Earnings per share (in €) 0.27 0.40 -33%
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8 Let’s Go Beyond_ gft.com 76% 72% 14% 17% 10% 11% 212.39 221.91 +24% 0% +12% Insurance business gaining traction with 24% growth y-o-y 8 May 2025 Minor variances due to rounding possible FinancialsInterim Statement Q1 2025 Largest client with 12% of total revenue % revenue Q1/2024 % revenue Q1/2025 Growth rate Strong growth of Insurance and Industry & Others Well-balanced client portfolio Banking Insurance Industry & Others >25 €m >10 €m >2.5 €m <2.5 €m 23% 38% 20% 19% 26% 28% 25% 21% 3M/2025 versus year-end 2024 % GROUP REVENUE
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9 Let’s Go Beyond_ gft.com Substantial personnel costs increase reflected in lower margins 8 May 2025 Revenue in €m FinancialsInterim Statement Q1 2025 Minor variances due to rounding possible EBIT adjusted* in €m -18% mainly due to increased personnel costs, EBIT adjusted margin down to 6.8% y-o-y (Q1/2024: 8.6%) +4% primarily driven by strong business development in Americas Q1/25 vs. Q1/24 Q1/25 vs. Q4/24 -1.5% due to seasonality effect -37% mainly due to increased personnel costs and higher investments to foster future growth * Adjusted for M&A-related effects, capacity adjustments, share-based management remuneration valuation effects and other extraordinary items; details on slides 31/32 and/or key performance indicators (gft.com) 212.39 217.24 215.91 225.38 221.91 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 18.31 11.37 24.35 24.02 15.09 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25
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10 Let’s Go Beyond_ gft.com 7.64 9.66 10.45 6.06 Q1/2024 Q1/2025 15.09 18.31 -42% +26%118.26 129.63 93.87 92.03 Q1/2024 Q1/2025 221.91212.39 org: -2% total: -2% org: 11% total: 10% Revenue and earnings by segment 8 May 2025 Revenue in €m Interim Statement Q1 2025 Minor variances due to rounding possible Financials EBIT adjusted* in €m Strong performance in the Americas (Brazil, USA and Canada) drives growth; organic growth +11%; UK remains challenging with 31% decline -42% EBIT adjusted mainly due to increased investments and personnel costs, declining Software Solutions business GFT Group: +5% (organic, constant currency) GFT Group: -18% Americas, UK & APAC Continental Europe +26% EBIT adjusted: operative performance very strong, especially in the USA and Canada, which offsets weaker UK business development Slowdown in Continental Europe (-2%) due to macro uncertainties, particularly in Spain and Italy Others: €0.26m Americas, UK & APACContinental Europe Others: €0.25m * Adjusted for M&A-related effects, capacity adjustments, share-based management remuneration valuation effects and other extraordinary items; details on slides 31+32 and/or key performance indicators (gft.com) Others: €0.22m Others: €-0.63m
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11 Let’s Go Beyond_ gft.com 93.8 60.7 38.5 21.9 7.0 98.2 47.1 32.4 27.4 7.3 Revenue by global regions (based on customers’ location) Dynamic growth in North & Latin America offsets market weakness in Europe Minor variances due to rounding possible8 May 2025 FinancialsInterim Statement Q1 2025 Q1/2024 Q1/2025 UK still challenging, transformational initiatives started Slowdown in Spain (-3%), Germany (-1%) & Italy (-3%) Brazil (+33%) and Colombia (+52%) major growth drivers in LATAM USA (+16%) and Canada (+20%) back on strong growth path Singapore +19%, promising new neobank project wins in APAC *Others: Q1/2025: €1.1m; Q1/2024: €1.7m share in % YTD in €m ∆% ↘APAC & Others* 4% 7.0 -2% UK 10% 21.9 -20% 29% ↗ 17% 38.5 19% ↗ ↘ North America 27% 60.7Latin America 42% 93.8 ↘Europe -5%
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12 Let’s Go Beyond_ gft.com Income statement – Significant increase of personnel costs 8 May 2025 Minor variances due to rounding possible FinancialsInterim Statement Q1 2025 Solid revenue trendof 4% boosted by performance in Americas, particularly in Brazil. Currency headwind of €-6.15m (-3%) Other operating income decreased mainly due to lower foreign exchange gains and government grants, particularly for R&D Ratio of cost of purchased servicesto revenue down to 12.6% (Q1/2024: 13.0%) Personnel costs (+9%) significantly affected by larger workforce in Brazil and capacity adjustments of €3.09m (Q1/2024: €1.08m). Ratio of personnel expenses excluding capacity adjustments plus purchased services to revenue up to 85.2% (Q1/2024: 83.2%) Higher other operating expenses (+3%) due to ongoing growth investments as well as sales and marketing activities Decrease of depreciation and amortization associated with declining amortization on intangible assets from purchase price allocations Effective tax rate of 29.2% at previous year’s level in €m Q1/2025 Q1/2024 ∆% Revenue 221.91 212.39 4% Other operating income 2.58 3.03 -15% Cost of purchased services -27.96 -27.68 1% Personnel expenses -164.21 -150.08 9% Other operating expenses -16.33 -15.85 3% EBITDA 15.99 21.81 -27% Depreciation and amortization -5.17 -6.09 -15% EBIT 10.82 15.72 -31% Financial result -0.81 -0.72 13% EBT 10.01 15.00 -33% Income taxes -2.92 -4.38 -33% Net income 7.09 10.62 -33% Earnings per share (in €) 0.27 0.40 -33%
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13 Let’s Go Beyond_ gft.com 80.20 60.46 -51.08-42.53 -122.73 -4.31 -0.43 -14.92 -0.08 -111.54 Cash flow analysis (€m) – Reduction of financial debt 8 May 2025 31/12/2024 Interim Statement Q1 2025 Minor variances due to rounding possible Financials * Financing liabilities include liabilities to banks Net cashFinancing liabilities* CashCash flow operating activities Cash flow investing activities Cash flow financing activities FX effects Financing liabilities* Net cash Cash 31/03/2025Q1/2025 Net cash down to €-51.08m (31/12/2024: €-42.53m) predominantly due to operating activities | undrawn credit lines up to €62.76m (31/12/2024: €51.20m) Cash flow from operating activities of €-4.31m (Q1/2024: €6.42m) impacted by increased amount of funds tied up in working capital, especially in customer receivables – following highly positive effects in Q4/2024 from significant payments by major clients. Additionally, bonuses paid out in Q1/2025 Cash flow from investing activities of €-0.43m (Q1/2024: €-79.80m) on low level. Previous year’s cash outflows substantially related to Sophos acquisition Cash flow from financing activities of €-14.92m (Q1/2024: €67.92m) primarily characterised by (net) loan repayments of €11.82m (Q1/2024: net borrowings of €70.80m) Lower free cash flow adjusted** of €-7.92m (Q1/2024: €2.70m) largely due to decrease in operating cash flow ** Cash flow from operating activities less investments in intangible assets and property, plant and equipment (excluding invest ments in connection with business combinations) and payments for lease liabilities.; for details, see key performance indicators (gft.com)
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14 Let’s Go Beyond_ gft.com Balance sheet (€m) – Improved equity ratio 8 May 2025 Interim Statement Q1 2025 Minor variances due to rounding possible Financials Increase of equity attributed to net profit for the period of €7.09m (Q1/2024: €10.62m) – with adverse currency translation effects amounting to €-3.85m | equity ratio improved two percentage points to 44% (31/12/2024: 42%) Non-current liabilities of €119.23m slightly below previous year-end level (31/12/2024: €121.98m). Decrease substantially associated with lower lease liabilities Current liabilities down to €232.74m (31/12/2024: €259.49m). Decline by €26.75m primarily caused by lower bonus provisions (€-11.43m), decreased contract liabilities (€-11.04m) and reduced financing liabilities due to redemption of bank loans (€-10.86m). Opposing effect mainly from increase of accruals for vacation entitlements (€+3.88m) Balance sheet total down by 4% to €626.38m (31/12/2024: €652.65m) – mainly due to redemption of bank loans Non-current assets decreased to €333.64m (31/12/2024: €339.83m) resulting from currency-related revaluation of goodwill and scheduled depreciation on property, plant and equipment. Non-current assets as a proportion of total assets amounted to 53% (31/12/2024: 52%) Decline in Cash and cash equivalents by €19.74m to €60.46m primarily attributed to repayment of bank liabilities Other current assets of €232.28m in essence at prior year-end level (31/12/2024: €232.62m). Other current assets substantially comprise of receivables from customers of €187.15m (31/12/2024: €185.81m) Non-current assets Cash and cash equivalents Other current assets Current liabilities Non-current liabilities Equity 31/12/2024 31/03/2025 31/12/202431/03/2025 232.74 259.49 119.23 121.98 274.41 271.18 626.38 652.65 232.62 232.28 80.20 60.46 339.83 333.64 652.65 626.38
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15 Let’s Go Beyond_ gft.com 89.9% 89.9% 91.4% 91.6% 91.6% Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Flexible, adaptable and high performing workforce 8 May 2025 Interim Statement Q1 2025 Minor variances due to rounding possible Financials Workforce slightly down by 1% compared to year-end 2024 (compared to Q1/2024: +7%) ↑ Colombia, Canada, US, India ↓ Brazil, Spain, Italy, Germany, Poland, UK, Mexico Number of external contractors reduced to 1,104 as at the end of Q1/2025 (31/12/2024: 1,215) Utilization rate remained high at 91.6% q-o-q; significant y-o-y increase vs.Q1/24 (+1.7pp) supported by the inclusion of Sophos in the calculation from Q1/25 with >1,400 highly utilized IT professionals in Colombia Attrition significantly up q-o-q (+1.4pp) and well above prior year level Employees (FTE) Utilization* Attrition* *Including Sophos numbers from Q1/25 onwards; Attrition is calculated as trailing average of last 12 months 10,626 10,772 11,304 11,506 11,413 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Incl. Sophos 9.8% 9.8% 10.0% 10.7% 12.1% Q1/24 Q2/24 Q3/24 Q4/24 Q1/25
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16 Let’s Go Beyond_ gft.com Share buy-backInterim Statement Q1 2025 16 Volume: up to €15m 653,594 shares / ~2.5% of share capital(26/03/2025: GFT share Xetra closing price: €22.95) Duration: 24 April 2025 – 14 October 2025 GFT resolved on up to €15m share buy-back program DETAILS CAPITAL AUTHORIZATION PURPOSE & KPI IMPACT Authorization as granted in AGM 2020 for up to 10% of total shares Renewal of authorization scheduled for AGM 2025 (05/06/2025) Program will be executed in accordance with safe harbour regulations Shares can be used for all purposes granted in authorization incl. redemption 2025 guidance includes share buy-back WEEKLY REPORTING ON IR WEBSITE (gft.com) 8 May 2025
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17 Let’s Go Beyond_ gft.com 2025 targets confirmed & new EBIT adjusted calculation included 8 May 2025 Guidance 2025Interim Statement Q1 2025 17 ~ € 930m GUIDANCE 2025 ACC. TO NEW EBIT ADJUSTED CALCULATION +7% growth EBIT ADJ. e REVENUE e € 68m guidance in Annual Report 2024 + € 7m Capacity adjustments € 75m RECONCILIATION ACC. TO NEW EBIT ADJUSTED CALCULATION: ~ € 75m 8.1% EBIT adj. margin ~ € 930m GUIDANCE 2025 PUBLISHED IN ANNUAL REPORT 2024 +7% growth EBIT ADJ. e REVENUE e ~ € 68m 7.3% EBIT adj. margin EBT e: ~ € 60mEBT e: ~ € 60m
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18 Let’s Go Beyond_ gft.com Additional milestones for 2025 8 May 2025 Interim Statement Q1 2025 0.4 € 55.6m FREE CASHFLOW ADJ.* NET DEBT / EBITDA** ~ € 45m ~ 0.2 NET DEBT / EBITDA** FREE CASHFLOW ADJ.* Working capital levels expected on normalized level for 2025 (exceptionally low working capital on 31/12/2024) Net Debt assuming no acquisitions, but sufficient headroom to finance growth targets should market opportunities arise Utilization expected at a high but not at maximum level due to challenging market environment RESULTS 2024 MILESTONES 2025 90.7% UTILIZATION*** ~ 91% (before: 90.5%) UTILIZATION *** Excluding Sophos * Cash flow from operating activities less investments in intangible assets and property, plant and equipment (excluding invest ments in connection with business combinations) and payments for lease liabilities.; for details, see key performance indicators (gft.com) ** Net debt comprises cash less liabilities to credit institutions Ø 2022-2024: € 40.2m Ø 2022-2024: 90.5% Ø 2022-2024: 0.0 Additional milestones 2025
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19 Let’s Go Beyond_ gft.com Agenda Interim Statement Q1 2025 8 May 2025 Highlights | Marco Santos (Global CEO) Financials Q1 & Guidance 2025 | Dr Jochen Ruetz (CFO & deputy CEO) Conclusion | Marco Santos (Global CEO)
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20 Shaping the future of digital business gft.com We demonstrated our resilience, achieving solid growth in Q1, despite global market challenges. The AI software & services market is a major opportunity for GFT, and we have been generating tangible results for our business and operation. We are executing our 5-Year Strategy with focus, clear goals and global strategic initiatives, which have already created a positive impact for GFT. We have diligently identified, owned and addressed challenges in specific markets as part of our strategy to build a solid foundation for the mid and long term. Conclusion Let’s Go Beyond
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21 Let’s Go Beyond_ gft.com Backup 8 May 2025 Interim statement Q1 2025
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22 Let’s Go Beyond_ gft.com 5-year strategy and mid-term targets 8 May 2025 Interim Statement Q1 2025 + 11.5% CAGR TARGETS 2029 ~ € 1,500m REVENUE e Continued revenue growth Organic growth picking up after market recovery Bolt-on acquisitions of high-value-adding services companies in existing GFT markets Ongoing investments in GFT assets Improved profitability Service portfolio trending towards high-value-added services at higher margins Expanding smartshore delivery contributing to overall margin improvement Focus on existing GFT markets, driving economies of scale BackupInterim statement Q1 2025 ~ 9.5% EBIT ADJ. margin e
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23 Let’s Go Beyond_ gft.com We enable our clients to boost their productivity 8 May 2025 Interim Statement Q1 2025 ~8% CORE BUSINESS Platform modernization Cloud migration Mainframe Modernization Open API etc. EFFICIENT STANDARD SOLUTIONS Engineering & Regulatory Managed Services Engineering Services Regulatory Services etc. NEW TECHNOLOGIES Data & AI Generative AI Predictive AI RPA etc. INNOVATION Gen AI becomes an integral part of the overall GFT offering. ~46% ~46% 2024 REVENUE SPLIT Agentic AI Reasoning AI etc. Backup
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24 Let’s Go Beyond_ gft.com Results at a glance per quarter 8 May 2025 Minor variances due to rounding possible BackupInterim Statement Q1 2025 * Adjusted for M&A-related effects, capacity adjustments, share-based management remuneration effects, and other extraordinary items; details on slides 31/32 and/or key performance indicators (gft.com) in €m Q1/2024 Q2/2024 Q3/2024 Q4/2024 FY2024 Q1/2025 Revenue 212.39 217.24 215.91 225.38 870.92 221.91 EBITDA 21.81 22.62 25.15 24.37 93.95 15.99 E BIT adjusted* 18.31 11.37 24.35 24.02 78.05 15.09 EBIT 15.72 16.45 19.71 19.11 70.99 10.82 EBT 15.00 15.05 18.02 16.94 65.01 10.01 Net income 10.62 10.61 12.63 12.62 46.48 7.09 Earnings per share (in €) 0.40 0.41 0.48 0.48 1.77 0.27 Employees (in FTE) 10,626 10,772 11,304 11,506 11,506 11,413
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25 Let’s Go Beyond_ gft.com Consolidated balance sheet 8 May 2025 Minor variances due to rounding possible BackupInterim Statement Q1 2025 Assets Equity and liabilities in € 31/03/2025 31/12/2024 % in € 31/03/2025 31/12/2024 % Non-current assets Shareholders’ equity Goodwill 226,561,857.20 230,351,781.92 -2% Share capital 26,325,946.00 26,325,946.00 0% Other intangible assets 33,585,436.92 34,316,812.18 -2% Capital reserve 42,147,782.15 42,147,782.15 0% Property, plant and equipment 56,917,511.53 59,506,542.56 -4% Retained earnings 213,271,660.43 206,180,950.10 3% Other financial assets 1,150,239.96 1,166,754.10 -1% Other reserves -7,331,155.20 -3,477,664.47 > 100% Deferred tax assets 10,826,586.96 10,193,453.97 6% 274,414,233.38 271,177,013.78 1% Other assets 4,598,700.25 4,298,671.90 7% 333,640,332.82 339,834,016.63 -2% Non-current liabilities Financing liabilities 70,000,000.00 70,344,619.14 0% Current assets Other financial liabilities 24,503,628.26 26,498,334.22 -8% Inventories 14,239.30 263,629.62 -95% Provisions for pensions 6,798,138.70 6,697,343.53 2% Trade receivables 141,225,994.87 161,555,278.75 -13% Other provisions 3,086,182.15 3,960,147.67 -22% Contract assets 45,927,543.34 24,250,921.17 89% Deferred tax liabilities 14,062,883.34 13,588,777.92 3% Cash and cash equivalents 60,457,295.09 80,196,229.64 -25% Other liabilities 782,453.90 891,916.49 -12% Other financial assets 4,591,429.67 4,730,215.18 -3% 119,233,286.35 121,981,138.97 -2% Income tax assets 15,617,402.23 16,327,430.24 -4% Other assets 24,910,867.18 25,491,825.52 -2% Current liabilities 292,744,771.68 312,815,530.12 -6% Trade payables 12,696,813.80 12,980,452.52 -2% Financing liabilities 41,534,020.92 52,385,748.28 -21% Other financial liabilities 25,475,583.43 22,707,177.71 12% Other provisions 39,887,175.17 50,930,946.86 -22% Income tax liabilities 7,787,379.62 7,756,308.11 0% Contract liabilities 33,964,587.11 45,006,129.94 -25% Other liabilities 71,392,024.72 67,724,630.58 5% 232,737,584.77 259,491,394.00 -10% 626,385,104.50 652,649,546.75 -4% 626,385,104.50 652,649,546.75 -4%
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26 Let’s Go Beyond_ gft.com Consolidated income statement 8 May 2025 Minor variances due to rounding possible BackupInterim Statement Q1 2025 in € Q1/2025 Q1/2024 ∆% Revenue 221,909,903.71 212,389,809.11 4% Other operating income 2,575,815.09 3,033,908.44 -15% Cost of purchased services -27,963,197.63 -27,675,659.96 1% Personnel expenses -164,214,714.06 -150,077,283.46 9% Other operating expenses -16,316,345.80 -15,863,414.07 3% Result from operating activities before depreciation and amortization 15,991,461.31 21,807,360.06 -27% Depreciation and amortisation of intangible assets and property, plant and equipment -5,169,389.35 -6,085,043.78 -15% Result from operating activities 10,822,071.96 15,722,316.28 -31% Interest income 661,841.32 867,104.34 -24% Interest expenses -1,471,830.47 -1,586,056.17 -7% Financial result -809,989.15 -718,951.83 13% Earnings before taxes 10,012,082.81 15,003,364.45 -33% Income taxes -2,921,372.48 -4,380,805.95 -33% Net income for the period 7,090,710.33 10,622,558.50 -33% Earnings per share – basic 0.27 0.40 -33%
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27 Let’s Go Beyond_ gft.com Consolidated statement of comprehensive income 8 May 2025 Minor variances due to rounding possible * Actuarial gains/losses are generally recognised at year -end based on corresponding expert reports BackupInterim Statement Q1 2025 in € Q1/2025 Q1/2024 ∆% Net income for the period 7,090,710.33 10,622,558.50 -33% Items that will not be reclassified to the income statement Actuarial gains/losses from pensions (before taxes) * 0.00 0.00 n/a Income taxes on actuarial gains/losses from pensions 0.00 0.00 n/a Actuarial gains/losses from pensions (after taxes) 0.00 0.00 n/a Items that may be reclassified to the income statement Currency translation -3,853,490.73 947,958.63 < -100% Other comprehensive income -3,853,490.73 947,958.63 < -100% Total comprehensive income 3,237,219.60 11,570,517.13 -72%
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28 Let’s Go Beyond_ gft.com Consolidated statement of changes in equity 8 May 2025 * Retained earnings also include items that will not be reclassified to the consolidated income statement Minor variances due to rounding possible BackupInterim Statement Q1 2025 Share capital Capital res erve Other res erves Total equity in € Currency translation Balance at 1 January 2024 26,325,946.00 42,147,782.15 174,059,064.95 -1,468,946.26 241,063,846.84 Net income for the period -- -- 10,622,558.50 -- 10,622,558.50 Other comprehensive income -- -- 0.00 947,958.63 947,958.63 Total comprehensive income -- -- 10,622,558.50 947,958.63 11,570,517.13 Balance at 31 March 2024 26,325,946.00 42,147,782.15 184,681,623.45 -520,987.63 252,634,363.97 Balance at 1 January 2025 26,325,946.00 42,147,782.15 206,180,950.10 -3,477,664.47 271,177,013.78 Net income for the period -- -- 7,090,710.33 -- 7,090,710.33 Other comprehensive income -- -- 0.00 -3,853,490.73 -3,853,490.73 Total comprehensive income -- -- 7,090,710.33 -3,853,490.73 3,237,219.60 Balance at 31 March 2025 26,325,946.00 42,147,782.15 213,271,660.43 -7,331,155.20 274,414,233.38 Retained earnings *
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29 Let’s Go Beyond_ gft.com Consolidated cash flow statement 8 May 2025 Minor variances due to rounding possible BackupInterim Statement Q1 2025 in € Q1/2025 Q1/2024 ∆% Net income for the period 7,090,710.33 10,622,558.50 -33% Income taxes 2,921,372.48 4,380,805.95 -33% Financial result 809,989.15 718,951.83 13% Income taxes paid -4,724,766.20 -4,186,343.78 13% Income taxes received 3,602,549.65 2,856,338.40 26% Interest paid -669,379.15 -1,115,264.45 -40% Interest received 661,742.12 867,102.20 -24% Depreciation and amortization of intangible assets and property, plant and equipment 5,169,389.35 6,085,043.78 -15% Net proceeds on disposal of intangible assets and property, plant and equipment 6,876.15 -11,328.04 < -100% Other non-cash expenses and income -1,761,079.57 -1,918,383.93 -8% Change in trade receivables 20,329,283.88 19,531,418.83 4% Change in contract assets -21,676,622.17 -9,892,041.11 >100% Change in other assets 685,619.96 3,826,402.75 -82% Change in provisions -11,666,540.37 -13,790,049.34 -15% Change in trade payables -283,638.72 -1,880,602.77 -85% Change in contract liabilities -11,041,542.83 -14,135,512.61 -22% Change in other liabilities 6,240,608.97 4,457,258.23 40% Cash flow from operating activities -4,305,426.97 6,416,354.44 < -100% Proceeds from disposal of property, plant and equipment 77,619.36 26,896.41 >100% Capital expenditure for intangible assets -124,403.09 0.00 n/a Capital expenditure for property, plant and equipment -388,060.15 -838,300.13 -54% Cash outflows for acquisitions of consolidated companiesnet of cash and cash equivalents acquired 0.00 -78,985,843.40 -100% Cash flow from investing activities -434,843.88 -79,797,247.12 -99% Proceeds from borrowing 0.00 80,344,619.00 -100% Cash outflows from loan repayments -11,824,151.91 -9,546,036.22 24% Cash outflows from repayment of lease liabilities -3,099,468.67 -2,882,883.95 8% Cash flow from financing activities -14,923,620.58 67,915,698.83 < -100% Effect of foreign exchange rate changes on cash and cash equivalents -75,043.12 8,837.49 < -100% Net increase in cash and cash equivalents -19,738,934.55 -5,456,356.36 >100% Cash and cash equivalents at beginning of period 80,196,229.64 70,340,638.75 14% Cash and cash equivalents at end of period 60,457,295.09 64,884,282.39 -7%
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30 Let’s Go Beyond_ gft.com Segment report 8 May 2025 Backup Minor variances due to rounding possible Interim Statement Q1 2025 in €k Q1/2025 Q1/2024 Q1/2025 Q1/2024 Q1/2025 Q1/2024 Q1/2025 Q1/2024 Q1/2025 Q1/2024 External revenue 129,631 118,259 92,030 93,872 221,661 212,131 249 259 221,910 212,390 Intersegment revenue 1,738 1,323 20,082 23,386 21,820 24,709 -21,820 -24,709 0 0 Total revenue 131,369 119,582 112,112 117,258 243,481 236,840 -21,571 -24,450 221,910 212,390 Segment result (E BT) 7,133 5,987 3,678 9,464 10,811 15,451 -799 -448 10,012 15,003 thereof personnel expenses -82,843 -70,518 -77,436 -75,969 -160,279 -146,487 -3,936 -3,590 -164,215 -150,077 thereof depreciation and amortization -1,651 -2,321 -3,292 -3,424 -4,943 -5,745 -226 -340 -5,169 -6,085 thereof interest income 727 935 250 381 977 1,316 -315 -449 662 867 thereof interest expenses -482 -642 -1,219 -451 -1,701 -1,093 229 -493 -1,472 -1,586 Am e r icas , UK & APAC Continental E urope Total segments Reconciliation GFT Group
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31 Let’s Go Beyond_ gft.com New calculation of EBIT adjusted 8 May 2025 Minor variances due to rounding possible BackupInterim Statement Q1 2025 in €k Q1/2025 Q1/2024 Revenue 221,910 212,389 EBIT adjusted 15,086 18,309 M&A effects -1,080 -2,132 Capacity adjustments -3,084 -1,083 Share-price related effects from measurement of management remuneration -100 628 Other extraordinary items - - EBIT 10,822 15,722 Financial result -810 -719 EBT 10,012 15,003 EBIT adjusted margin 6.8% 8.6% EBT margin 4.5% 7.1%
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32 Let’s Go Beyond_ gft.com New calculation of EBIT adjusted 8 May 2025 Interim Statement Q1 2025 Minor variances due to rounding possible Backup GFT has changed the calculation method of the EBIT adjusted for the consolidated results for FY 2025 onwards. Previous year’s figures per quarter are recalculated accordingly, as shown in the table: in €m Q1/2024 Q2/2024 Q3/2024 Q4/2024 FY2024 Q1/2025 Revenue (previously reported adapted) 212.39 217.24 215.91 225.38 870.92 221.91 EBIT adjusted - previously reported 17.23 18.51 21.37 20.33 77.44 15.09 - adaption 1.08 -7.14 2.98 3.69 0.61 − E BIT adjusted - adapted 18.31 11.37 24.35 24.02 78.05 15.09 EBIT adjusted margin - previously reported 8.1% 8.5% 9.9% 9.0% 8.9% − EBIT adjusted margin - adapted 8.6% 5.2% 11.3% 10.7% 9.0% 6.8%
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© 2025 | GFT Technologies SE and its affiliates. All rights reserved. Let’s Go Beyond Andreas Herzog Head of IR/CSR T +49 711 62042-323 andreas.herzog@gft.com Nicole Schüttforth Senior IR Manager T +49 711 62042-387 nicole.schuettforth@gft.com Maren Dallas IR Manager T +49 711 62042-350 maren.dallas@gft.com