Interim statement Q1 2024

GFT Technologies SE | 8 May 2024

© 2024 | GFT Technologies SE and its affiliates. All rights reserved.

Shaping the

Interim statement

future of digital

Q1 2024

business

Agenda

Highlights | Marika Lulay (CEO) Financials Q1 2024 | Dr Jochen Ruetz (CFO) Outlook | Marika Lulay (CEO)

gft.com

8 May 2024

2

Shaping the

Interim statement

Highlights

future of digital

Q1 2024

business

Expected growth rates 2024 confirmed

HIGHLIGHTS Q1 2024

Sophos acquisition closed on 1 Feb; integration running smoothly

Marco Santos appointed as new CEO (effective from 1 Jul 2024)

New UDPN "All-in-One Digital Sandbox" launched

CDP rating improved from C to B (GFT above IT sector average)

REVENUE*

+13%

€ 212m

ADJ. EBIT

+6%

€ 17m

OUTLOOK 2024

REVENUE*

+15%

€ 905m

ADJ. EBIT

+16%

€ 85m

* Adapted due to the reclassification of sales-related Brazilian taxes; for details refer to slide 30

gft.com

8 May 2024

3

Shaping the

Interim statement

Highlights

future of digital

Q1 2024

business

The GFT DNA

Catching the right tech waves

Working with strong partners

Relentless focus on delivery

Agile@scale company culture

Programmatic

M&A approach

gft.com

8 May 2024

4

Shaping the

Interim statement

Highlights

future of digital

Q1 2024

business

GFT helped to build Neobank

in Romania on Engine by Starling platform

Together with GFT, we helped Salt Bank build and launch a new digital bank in less than 12 months.

Our highly capable platform was effectively integrated by GFT for the Romanian market, delivering feature-richand highly personalisable banking products that can equally be deployed around the world to attract impressive customer volumes.

GFT's specialist team successfully delivered the implementation and they see the significant potential of our platform.

Sam Everington,

CEO of Engine by Starling, May 2024

gft.com

8 May 2024

5

Shaping the

Interim statement

Highlights

future of digital

Q1 2024

business

USE CASE #01

GFT Banking Agent

Connected to the core banking system the Generative AI- based agent answers queries and even executes transactions.

Delight customers | Cut costs | Demonstrate leadership in digital banking

USE CASE #02

GFT AI Impact Beta

Generative AI-based,engine-agnosticSW-development orchestration.

Enhances productivity up to 25% thanks to automated prompt generation, code suggestions, vulnerability checks, fixes and detailed logs.

Simplify onboarding | Accelerate digital transformation | Reduce technical debt

USE CASE #03

GFT EnterpriseGPT

Makes benefits of generative AI accessible securely and in compliance with regulatory requirements for banks. Runs on all common cloud platforms and can utilise all common language models.

Boost productivity | Rapid ROI | Usable across various functions

gft.com

8 May 2024

6

Shaping the

Interim statement

future of digital

Q1 2024

business

Agenda

Highlights | Marika Lulay (CEO)

Financials Q1 2024 | Dr Jochen Ruetz (CFO) Outlook | Marika Lulay (CEO)

gft.com

8 May 2024

7

Shaping the

Interim statement

Financials

future of digital

Q1 2024

business

Q1 key figures - Solid growth supported by M&A

in €m

Q1/2024

Q1/2023

∆

Order backlog

404.58

350.39

*

15%

EBITDA

21.81

19.89

10%

EBIT adjusted margin

8.1%

8.7%

EBIT

15.72

14.83

6%

EBT margin

7.1%

8.0%

Net income

10.62

10.54

1%

Earnings per share (in €)

0.40

0.40

0%

Employees (in FTE)

10,626

8,792

21%

  • Revenue: +13% (thereof FX effects: 2%), organic growth +1%
  • Order backlog above previous year, supported by Sophos backlog of €35m
  • Adjusted EBIT increased by 6%, including
    • Capacity adjustments: €-1.1m
      (Q1 2023: €-1.5m)
    • FX effects of €-0.3m (Q1 2023: €-0.5m)
  • Adjusted EBIT margin down to 8.1% (Q1 2023: 8.7%)
  • EBT stable at €15.0m
  • Slightly reduced tax rate of 29%(Q1/2023: 30%)
  • Significant workforce increase of 21%, mainly driven by Sophos contributing 1,556 employees
  • Adapted due to the reclassification of sales-related Brazilian taxes in the amount of €-2.98m for revenue and €-5.33m for order backlog; for details refer to slide 30
  • Adjusted for non-operational effects from M&A activities and share-price-based effects in the valuation of management remuneration; for details, see key performance indicators(gft.com)

gft.com

8 May 2024

Minor variances due to rounding possible

8

Shaping the

Interim statement

Financials

future of digital

Q1 2024

business

Strong growth of Banking and Industry business

Well-balanced client portfolio

Strong growth of Banking and

Largest client with 16% of total revenue

Industry & Others

43%

212.39

41%

39%

187.69 *

10%

+16%

10%

14%

18%

-11%

21%

16% 16%

16%

16%

18%

17%

+19%

76%

14%

13%

72%

9%

10% 11%

>50 €m

>10 €m

>5 €m

>1 €m

<1 €m

% revenue

Growth rate

% revenue

Q1/2023

Q1/2024

% revenue GFT Group*

2022

2023

Q1/2024

Banking

Insurance

Industry & Others

* Adapted due to the reclassification of sales-related Brazilian taxes in the amount of €-2.98m; for details refer to slide 30

gft.com

8 May 2024

Minor variances due to rounding possible

9

Shaping the

Interim statement

Financials

future of digital

Q1 2024

business

Steady revenue growth despite high market uncertainties

Revenue* in €m

212.39

197.73

199.70

203.75

180.34

180.96

184.89

187.69

170.29

Adjusted EBIT** in €m

20.97

21.19

18.47

18.92

17.23

16.19

16.28

13.91

14.89

Q1/22

Q2/22

Q3/22

Q4/22

Q1/23

Q2/23

Q3/23

Q4/23

Q1/24

Q1/22

Q2/22

Q3/22

Q4/22

Q1/23

Q2/23

Q3/23

Q4/23

Q1/24

  • Q1/2024 vs. Q1/2023: Solid revenue growth (+13%); Adjusted EBIT increased at a lower rate (+6%) compared to revenue mainly due to slower sales price increases and weaker product business than previous year
  • Q1/2024 vs. Q4/2023: Revenue up by 4% driven by M&A; Adjusted EBIT down by 19% mainly due to lower capacity utilization and slower sales price increases
  • Revenue figures prior to FY2024 adapted due to the reclassification of sales-related Brazilian taxes; for details refer to slide 30
  • Adjusted for non-operational effects from M&A activities and share-price-based effects in the valuation of management remuneration; for details, see key performance indicators(gft.com)

gft.com

8 May 2024

Minor variances due to rounding possible

10

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GFT Technologies SE published this content on 08 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 May 2024 05:34:07 UTC.