Gofore - Slightly above expectations

Gofore’s EBITA in H2 was slightly better than our expectations, at EUR 3.0m (Evli 2.8m). Revenue amounted to EUR 30.6m (pre-announced). The BoD proposes a dividend of EUR 0.23 per share (Evli EUR 0.20). Gofore expects that its net sales and comparable adjusted EBITDA will grow in 2020 compared to 2019.
  • Gofore H2/19 net sales amounted to EUR 30.6m (pre-announced), with sales growth in at 18.2% compared to H2/18 figures. Growth was driven by organic growth and the acquisition of Silver Planet.
  • EBITA in H1 amounted to EUR 3.0m, slightly above our estimates (Evli EUR 2.8m), at a margin of 10.0%. EBIT amounted to EUR 2.0m (Evli EUR 1.7m), at a 6.5% EBIT-margin.
  • Dividend proposal: Gofore’s BoD proposes a dividend of EUR 0.23 per share (Evli EUR 0.20)
  • Guidance: Gofore's net sales and comparable adjusted EBITA will grow compared to 2019. Adjusted EBITA means EBITA, adjusted for nonrecurring items.
  • The number of personnel at the end of the period was 582 (H2/18: 495).

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