GFT Technologies SE Dr Jochen Ruetz (CFO) October 2017 Investor Presentation
GFT Technologies SE
Dr Jochen Ruetz (CFO)
October 2017
Investor Presentation
2GFT GROUP
TRACKER
Ag
en
da
October 2017
1. GFT at a glance
2. GFT business model
3. Financial results prelim. Q3/2017
4. Outlook
5. Appendix
3GFT GROUP
TRACKER
October 2017
IT solutions for financial services
Business change and
technology consultancy for
financial institutions:
Capital Markets
Retail Banking
Private Wealth
Insurance
Approx. 50% of revenues from
Investment Banks and 50% from
Retail Banks
4,700 employees (FTE) and
more than 600 freelance IT
experts
Integrated onshore / nearshore
approach with development
centers in Spain, Poland, Brazil
and Costa Rica
Approx. 50% of revenues
generated onshore and 50%
nearshore
Strategic IT partner Global delivery model
1 GFT at a glance
4GFT GROUP
TRACKER
October 2017
Proven onshore-/ nearshore delivery model (approx. 4,700 FTE)
1 GFT at a glance
Canada
Toronto
USA
Boston
New York
Costa Rica
Heredia
Mexiko
Mexico City
Alphaville
Curitiba
São Paulo
Sorocaba
Germany
Bonn
Eschborn/Frankfurt
St. Georgen
Stuttgart
Italy
Florence
Genoa
Milano
Montecatini Terme
Padova
Piacenza
Siena
Torino
Spain
Alicante
Barcelona
Lleida
Madrid
Valencia
Zaragoza
Poland
Lodz
Poznan
Warsaw
Switzerland
Basel
Zurich
UK
London
Americas
& UK
Continental
Europe
Brazil
5GFT GROUP
TRACKER
October 2017
Key figures
1 GFT at a glance
174
279
374423 415
0
100
200
300
400
500
2013 2014 2015 2016 2017e
Revenue (€m)
19
33
45 47
34
0
10
20
30
40
50
2013 2014 2015 2016 2017e
EBITDA (€m)
16
24
33 33
18
0
5
10
15
20
25
30
35
2013 2014 2015 2016 2017e
EBT (€m)
2,016
3,131
4,050
4,8704,600
0
1000
2000
3000
4000
5000
6000
2013 2014 2015 2016 2017e
Employees (FTE)
6GFT GROUP
TRACKER
30 biggest clients H1/2017 – three new entries
1 GFT at a glance
Insurance
& Others
Private
Wealth
Retail
Banking
Capital
Markets
October 2017
7GFT GROUP
TRACKER
October 2017
GFT share and shareholder structure
1 GFT at a glance
15
25 25
30 30
0
5
10
15
20
25
30
35
2012 2013 2014 2015 2016
Dividend per share (cent)
Shareholder structure
01/01/2015€ 12.42
31/08/2017€ 15.84
50
100
150
200
250
300
31.12.14 31.03.15 30.06.15 30.09.15 31.12.15 31.03.16 30.06.16 30.09.16 31.12.16 31.03.17 30.06.17
GFT TecDAX
GFT share indexed %
26%
10%64%
Ulrich Dietz
Maria Dietz
Free float
8GFT GROUP
TRACKER
Ag
en
da
October 2017
1. GFT at a glance
2. GFT business model
3. Financial results prelim. Q3/2017
4. Outlook
5. Appendix
9GFT GROUP
TRACKER
Business areas of GFT insidethe banks
October 2017
Sun deck
Innovation
Approx 10 % of ITS budget
Engine room
Core Banking, middle & back
office projects
Approx. 50 % of IST budget
Tween deck
Risk & Compliance projects
front office
Approx. 40 % of IST budget
Das Raster muss
Johannes noch
finetunen, kann man
transparenter
gestalten.
Sun deck
Innovation
Approx. 10% of ITS budget
Engine room
Core Banking, middle & back
office projects
Approx. 50% of ITS budget
Tween deck
Risk & Compliance projects
front office,sales channels
Approx. 40% of ITS budget
2 GFT business model
Business areas of GFTinside the banks
10GFT GROUP
TRACKER
October 2017
Three main growth drivers
Regulation
Increasing compliance and regulatory requirements esp. for Investment Banks
Implementation of
applications for new data
analysis and reporting
standards
Onshore consultancy by
industry experts and
nearshore implementation
services
Challenges Needs Solutions
Digitalisation
FinTechs increasingly
occupying parts of the
value chain
Restructuring the business
model to offer more digital
customer-centric services
Digital Innovation Lab with
prototypes of innovative
solutions for the bank of
the future
Margin pressure
Pressure to reduce costs
for maintaining core
banking systems
Outsourcing of IT Services
to geographical areas with
cost-effective workforce of
IT experts
IT services at attractive
prices by nearshore hubs
in Spain, Poland, Brazil
and Costa Rica
2 GFT business model
11GFT GROUP
TRACKER
October 2017
GFT Regulatory Change Management Service
Home screen shows the firm-wide status of compliance,
with action areas highlighted in red
Enormous value for banks – each regulation is interpreted
as it evolves and banks can clearly see the areas of their
business that need to be addressed to ensure they
achieve regulatory compliance
2 GFT business model
12GFT GROUP
TRACKER
Blockchain in Action - Emerald
October 2017
“As part of our vibrant innovation agenda, Royal Bank of Scotland have built Emerald, a viable alternative clearing and settlement mechanism using distributed ledger technology.
We are pleased to have GFT involved as they bring expertise, tenacity andtooling to this emerging technology. The use of GFT enables us to maximize thechances of gaining the best results in the performance and scaling testing of thisnew platform.”
Richard Crook, Head of Innovation Engineering, RBS
2 GFT business model
GFT has joined the Google Cloud Platform´s partner program, enabling tosimulate and deploy blockchain test infrastructure for banks an theplatform
13GFT GROUP
TRACKER
October 2017
Digital customer will change the use of bank channels
-25
-13
37
56
64
Disruption anticipated
Bankers expect changes
in customer channels
Branch Phone MobileOnline Social
Percent change anticipated 2015-2016
(Source: PwC´s Global Digital Banking Survey, 2015)
2 GFT business model
14GFT GROUP
TRACKER
October 2017
Digitalisation leads to a structural change in banking
Pro
du
ct
layer
Product
specialists
Customer interface
Brand, marketing
Quality, assurance &
product selection
Customer
View
Mayor retail banks
Digital-only banks
Global technology
players, e.g. Apple,
Amazon
Scaled banks
Specialised providers,
such as Fintechs,
insurance companies
Activities Players Developments
The Invisible
Bank
e.g. O2 Banking
Pla
tform
layer
e.g. Smart ContractsPro
cess
layer
2 GFT business model
Manufacture products
Product platform service
Combining non-banking
and banking products
Banking as a platform
Facilitate payments
Identity, risk and security
management
Regulation & taxation
Scaled banks
New banks, e.g. Fidor
Major outsourcers
Fintechs, e.g. Paypal
15GFT GROUP
TRACKER
October 2017
O2 Banking – Germany‘s first mobile bank account
Germany’s first fully-fledged mobile banking service, offered
by Telefonica
Jointly developed by GFT and Fidor, launched in July 2016
Implementation of basic and advanced banking functions
including instant payment and interfaces to the core
banking system
Rewarded with the Diamond Star Award (Handelsblatt and
EUROFORUM) in the “Digital Retail Banking” category as
“outstanding digital innovation”
2 GFT business model
16GFT GROUP
TRACKER
October 2017
Person to Person money transfer with Jiffy
2 GFT business model
SEPA based person-to-person
service to transfer money real
time through a smartphone app
Joint development with SIA SpA
About 23 groups of financial
institutions offer the service for more
than 32 million bank accounts in
Italy (this corresponds to more than
80% of all accounts in Italy)
17GFT GROUP
TRACKER
October 2017
PEAK OF INDECISIONlocal = high price / nice price = abroad
50% 50%
Onshore Nearshore/OffshoreStrategy Advisory
(McKinsey, BCG)
Indians
(HCL, Tata, Wipro)
Low day rateHigh day rate
GFT
Margin pressure in banks
2 GFT business model
18GFT GROUP
TRACKER
Ag
en
da
October 2017
1. GFT at a glance
2. GFT business model
3. Financial results prelim. Q3/2017
4. Outlook
5. Appendix
19GFT GROUP
TRACKER
Preliminary financial results 9M/2017
October 2017
In €m 9M/2017 9M/2016 ∆%
Revenue 316.52 314.28 1%
Revenue organic 308.51 310.74 -1%
EBITDA 29.10 34.00 -14%
EBIT 17.85 25.40 -30%
EBT 16.68 23.71 -30%
Net income 14.19 18.08 -22%
IAS earnings per share € 0.54 € 0.69 -22%
Permanent employees (FTE) 4,666 4,749 -2%
3 Financial results prelim. Q3/2017
20GFT GROUP
TRACKER
October 2017
In €mQ1
2016
Q2
2016
Q3
2016
Q4
2016
FY
2016
Q1
2017
Q2
2017
Q3
2017
9M/
2017
Revenue 97.39 110.64 106.25 108.28 422.56 111.10 106.67 98.75 316.52
EBITDA 10.15 11.39 12.46 12.71 46.71 9.92 8.42 10.76 29.10
EBIT 7.40 8.46 9.54 9.39 34.79 6.95 3.32 7.58 17.85
EBT 7.04 7.56 9.11 9.34 33.05 6.63 2.89 7.16 16.68
Net income 5.57 6.63 5.88 6.15 24.23 4.99 3.12 6.08 14.19
IAS earnings per share € 0.21 € 0.25 € 0.23 € 0.23 € 0.92 € 0.19 € 0.12 € 0.23 € 0.54
Permanent employees (FTE) 4,159 4,493 4,749 4,870 4,870 4,833 4,739 4,666 4,666
Preliminary financial results per quarter
3 Financial results prelim. Q3/2017
21GFT GROUP
TRACKER
Ag
en
da
October 2017
1. GFT at a glance
2. GFT business model
3. Financial results prelim. Q3/2017
4. Outlook
5. Appendix
22GFT GROUP
TRACKER
October 2017
Banking and Securities IT Spending
4 Outlook
Source: Gartner, Total Banking and Securities IT Spending by Segment, Worldwide, April 2017 (Billions of U.S. Dollars)
86.1 87.9 89.9 91.9 93.9 95.9
176.8 181.5 190.8 200.9 211.5 223.0
70.6 75.280.7
86.693.0
99.929.1
29.830.9
32.032.3
32,195.6
94.695.2
95.696.2
96.628.1 28.4
28.929.4
29.829.8
2016 2017 2018 2019 2020 2021
Data Center Systems
Telecom Services
Devices
Software
IT Services
Internal Services
CAGR
2016-2021
1.1%
0.2%
2.0%
7.2%
4.8%
2.2%
3.5% Total
23GFT GROUP
TRACKER
October 2017
Regulatory Roadmap
4 Outlook
24GFT GROUP
TRACKER
October 2017
Digital revenue opportunities for banks
Source: Gartner October 2016
Financial services CEOs
and CIOs expect digital
revenue to more than
double in most regions
In North America they
expect digital revenue to
nearly quadruple by 2021
They expect their digital
initiatives to force more
business through cheaper,
more efficient online
channels
9
20 201716
3431
28
36
55
49
43
0
10
20
30
40
50
60
North America Latin America EMEA Asia Pacific
Expectations for digital revenue growth
2016
2018
2021
4 Outlook
(average percentage of revenues)
25GFT GROUP
TRACKER
Market Analysis Industry 4.0
October 2017
Technology perspective our strengths Challenges for our clients our strengths
Industrial Robotics
Cyber Security
Internet of Things
3D Printing
Big Data Analytics
Advanced HMI
Augmented Reality
& Virtual Reality
Artificial Intelligence
2022
2017
81.47
46.86
19.34
11.53
16.18
6.03
14.51
4.42
9.13
3.66
5.29
3.34
2.77
0.44
3.61
0.35
Source: MarketsandMarkets 2017 Source: Gartner 2017
Difficulty in predicting business benefits
Security concerns
Cost/funding concerns
Implementation/integration complexity
Privacy concerns (for example, of
customer or enterprise data)
Potential risks or liabilities
Regulatory issues/concerns
Technology is immature
Resistance to change
within the organization
Insufficient time or resources to
develop ideas to benefit from IoT
Lack of necessary staff skills
Fragmented executive leadership
No real leadership for IoT within the
organisation
Ranked 1st Ranked 2nd Ranked 3rd Sum
12 12 10
12 10 10
10 10 9
8 9 9
8 7 9
7 8 8
7 7 8
7 7 7
7 7 7
7 6 7
5 7 7
5 5 5
4 5 4
Percentage of Respondents
35
32
29
25
25
23
23
21
20
20
19
15
13
0 10 20 30 40
Industry 4.0 market in 2017 and 2022 (market size in $bn) Top Barriers to IoT Success in Organisations
4 Outlook
26GFT GROUP
TRACKER
GLOBAL DELIVERY MODEL Platform Based Business
4.000
200APPLIED TECHNOLOGY UNIT
Business Consulting / Sales
FINANCIAL SERVICES UNIT INDUSTRIAL SOLUTIONS UNIT
BaaP Supply Chain / Embedded FinanceReg. Automation Cognitive Insurance
Partner & Ecosystem / Sales
BANKING
INNOVATION LAB
Platform Integration
Managed Service
Internet of Things
Blockchain Artificial Intelligence
Cloud Data Analytics
From managed service to platform based business
October 2017
4 Outlook
27GFT GROUP
TRACKER
Guidance update 10/2017
Revenue: € 415m
(prev.: € 425m)
EBITDA: € 34m(prev.: € 42m)
EBT: € 18m
(prev.: € 26m)
Reduced margins from business due to
missing contributions from lower
revenues: € -3.5m vs. prev. guidance
Weaker utilisation due to revenue
reductions: onshore utilization € -2.1m
(prev. guid. € -1.1m) and nearshore
utilization € -2.0m (prev. guid. zero)
Increased investments in growth:
€ -3.5m (prev. guid. € -2.3m)
Increased negative FX translation
effects: € -2.2m (prev. guid. € -1.7m)
Bonus accrual release due to weak
Group earnings: € +1.4 (prev. guid. zero)
Further revenue reductions trigger
higher restructuring costs: € -2.8m
(prev. guid. € -1.8m)
Mecemsa acquisition leads to one time
PPA orderbook adaption: € -0.2m
Mecemsa acquisition leads to a minor
increase of PPA amortization (estimate,
final calculation of PPA effects still
ongoing): € -5.7m (prev. guid. € -5.5m)
Lower cost for interest: € -1.8m
(prev. guid. € -2.0m)
Top 2 investment banking customers:
- € -42m vs. previous year (-27% yoy)
- € -10m vs. previous guidance (-8%)
All other investment banking
customers (besides Top-2):
- € + 6m vs. previous year (+13% yoy)
- € - 2m vs. previous guidance (-4%)
All retail banking customers:
- € +29m vs. previous year (+13% yoy)
- € + 2m vs. previous guidance (+1%)
Overall revenue:
- € - 8m vs. previous year (-2% yoy)
- € -10m vs. previous guidance (-2%)
October 2017
4 Outlook
28GFT GROUP
TRACKER
Going forward
October 2017
28% reduction of people
Overhead structure right sized & senior management exchanged
Utilization improved by 10% per mid Q4
Delivery mix changed from onsite to nearshore
CLEAN
UP
SCALE
UP
Continued improvement of OPERATIONAL EXCELLENCE
EXPAND FINANCIAL SERVICES: Continue to broaden the client base
Growth opportunity: GO INDUSTRY
Increased INVESTMENTS into Applied Technology Unit
UK/US
Global
4 Outlook
29GFT GROUP
TRACKER
Guidance 2017 and preview 2018
423425
415 415
2016 2017old
2017new*
2018**
+0.5%-2%
0%
Revenue EBITDA EBT
46.7
42.0
34.0
39.0
2016 2017 old
2017new*
2018**
-10%
33.1
26.0
18.0
25.0
2016 2017old
2017new*
2018**
-21%
Revenue
2022
EB
ITD
A m
arg
in 1
2%
800
-19%
-31%+15% +39%
Cost-containment programmes of the two major customers in investment banking will extend into 2018
Stable business development with the two major clients on a par with the fourth quarter of 2017
Further dynamic revenue growth from digital solutions for the finance sector
Expansion of digital solution offering for industrial clients
Mid-term guidance confirmed: revenue of € 800m by the year 2022 at 12% EBITDA Margin
* New guidance as of October 2017 / ** 2018 Preview
October 2017
4 Outlook
30GFT GROUP
TRACKER
Ag
en
da
October 2017
1. GFT at a glance
2. GFT business model
3. Financial results prelim. Q3/2017
4. Outlook
5. Appendix
31GFT GROUP
TRACKER
Financial Results H1/2017
October 2017
32GFT GROUP
TRACKER
Key figures
Revenue
+5%
EBITDA
-15%
EBT
-35%
Employees
+5%
EBITDA includes extraordinary items of € -1.40m for adapting the sales organisation in the UK and USA to changed market conditions
EBITDA includes extraordinary item of € -0.50m Earn-out accrual for Habber Tec Brazil acquisition
Weaker utilisation in Anglo-Saxon markets
FX translation effects of € -2.16m due to weaker GBP and stronger BRL(H1/2016 € -2.43m)
EBT excluding extra-ordinary items -8%
EBT includes extraordinary items of € -2.00m for impairment loss
EBT includes € -0.38m costs for innovation project CODE_n
Employee growth to 4,739 (H1/2016: 4,493)
Compared to 31 Dec 2016 headcount fell by 3% due to restructuring measures and falling demand in UK and USA
External purchased services (Freelancers) reduced by 11%
Total revenue growth of 5% to € 217.77m
Habber Tec Brazil contributed € 5.22m
Organic growth of 3% (5% at constant currencies)
October 2017
Financial results H1/2017
33GFT GROUP
TRACKER
In €m H1/2017 H1/2016 ∆%
Revenue 217.77 208.03 5%
Revenue organic 212.55 206.81 3%
EBITDA 18.34 21.54 -15%
EBIT 10.27 15.86 -35%
EBT 9.52 14.60 -35%
EBT w/o extraordinary items 13.42 14.60 -8%
Net income 8.11 12.21 -34%
IAS earnings per share € 0.31 € 0.46 -34%
Permanent employees (FTE) 4,739 4,493 5%
Results at a glance
Financial results H1/2017
October 2017
34GFT GROUP
TRACKER
In €mQ1
2016
Q2
2016
Q3
2016
Q4
2016
FY
2016
Q1
2017
Q2
2017
H1
2017
Revenue 97.39 110.64 106.25 108.28 422.56 111.10 106.67 217.77
EBITDA 10.15 11.39 12.46 12.71 46.71 9.92 8.42 18.34
EBIT 7.40 8.46 9.54 9.39 34.79 6.95 3.32 10.27
EBT 7.04 7.56 9.11 9.34 33.05 6.63 2.89 9.52
Net income 5.57 6.63 5.88 6.15 24.23 4.99 3.12 8.11
IAS earnings per share € 0.21 € 0.25 € 0.23 € 0.23 € 0.92 € 0.19 € 0.12 € 0.31
Permanent employees (FTE) 4,159 4,493 4,749 4,870 4,870 4,833 4,739 4,739
Results at a glance per quarter
Financial results H1/2017
October 2017
35GFT GROUP
TRACKER
Revenue per segment
in €m
Revenue ∆%
H1/2017 H1/2016 Organic M&A FX Total
Americas & UK 105.77 110.84 -3.7% 3.6% -4.5% -4.6%
Continental Europe 111.55 96.71 15.2% 0.0% 0.1% 15.3%
Others 0.45 0.48 n/a n/a n/a n/a
GFT 217.77 208.03 4.9% 1.9% -2.2% 4.7%
Financial results H1/2017
October 2017
36GFT GROUP
TRACKER
in €m
EBITDA EBT
H1/2017 H1/2016 ∆% H1/2017 H1/2016 ∆%
Americas & UK -1.05 7.45 < -100% -6.33 4.45 < -100%
Continental Europe 18.05 13.25 36% 14.92 10.06 48%
Others 1.34 0.84 60% 0.93 0.09 >100%
GFT 18.34 21.54 -15% 9.52 14.60 -35%
EBITDA & EBT per segment
Delta H1/2017 vs H1/2016 (€ -10.8m):
€ -3.90m Profit from business operations
€ -1.50m Sales Investments Retail Banking
€ -1.40m Expenses for adapting of sales organisation
€ -1.00m GBP/PLN devaluation
€ -0.50m EUR/BRL devaluation
€ -0.50m Earn-out accruals Habber Tec Brazil
€ -2.00m Impairment loss
Financial results H1/2017
October 2017
Delta H1/2017 vs H1/2016 (€ +4.9m):
€ +3.70m Profit from business operations
€ +1.20m Improved margins in CH (“back to normal”)
37GFT GROUP
TRACKER
Revenue by countries
€ 6.93m
€ 4.69m
€ 6.19m
€ 24.73m
€ 27.48m
€ 73.42m
€ 37.11m
€ 27.48m
UK
Spain
Italy
Germany
USA
Brazil
Switzerland
-14%
21%
0%
6%
-7%
92%
89%
∆%
Other countries 36%
€ 63.49m
€ 44.94m
€ 27.52m
€ 26.21m
€ 25.42m
€ 11.89m
€ 8.84m
€ 9.46m
H1/2017 H1/2016
36%
18%13%
12%
13%
3%2% 3%
H1/2016: € 208.03m
29%
21%13%
12%
12%
5%
4% 4%
H1/2017: € 217.77m
Financial results H1/2017
October 2017
38GFT GROUP
TRACKER
Currency distribution H1/2017
64%
19%
6%
6%6%
Revenue
EUR
GBP
USD
BRL
PLN
Others*
58%
14%
5%
9%
7%
7%
Costs
EUR
GBP
USD
BRL
PLN
Others*
*Others include: CHF, MXN, CAD, CRC, PEN
Financial results H1/2017
October 2017
39GFT GROUP
TRACKER
Detailed profit & loss statement
in €m H1/2017 H1/2016 ∆%
Revenues 217.77 208.03 +5%
Other operating income 1.07 2.16 -51%
Cost of material & purchased services -27.12 -30.58 -11%
Personnel expenses -141.55 -126.55 +12%
Other operating expenses* -31.83 -31.52 +1%
EBITDA 18.34 21.54 -15%
Depreciation and amortisation -8.07 -5.68 +42%
EBIT 10.27 15.86 -35%
Interest and similar expenses/income -0.75 -1.26 -40%
EBT 9.52 14.60 -35%
Taxes on income -1.41 -2.39 -41%
Net Income 8.11 12.21 -34%
IAS earnings per share (in €) 0.31 0.46 -34%
* Other operating expenses including profit share from associates and depreciation in securities
Financial results H1/2017
October 2017
40GFT GROUP
TRACKER
Balance Sheet (in €m)
166.66 175.54
135.26 128.21
41.4162.29
343.33
366.04
114.28 117.18
90.95
134.65
138.10
114.21
343.33
366.04
30/06/2017 31/12/2016 30/06/2017 31/12/2016
Assets Liabilities
Cash
& Securities
Other
Current
Assets
Non-Current
Assets
Non-Current
Liabilities
Equity
Current
Liabilities
Financial results H1/2017
October 2017
41GFT GROUP
TRACKER
-104.34
62.29
-8.49
-9.26 -3.00 -0.13
41.41
-63.77
-42.05
-105.18
Cash Flow analysis (in €m)
31/12/2016 30/06/2017H1/2017
Cash FX
effects
Operating
Cash Flow
Financing
Activities
Investments Cash Financial
liabilities
Net cashNet cash Financial
Liabilities GFT’s biggest clients overpay in
December in order to utilise internal
budgets. Overpaid amount indicated
by light blue colour
31/12/2015 = € 6.34m
31/12/2016 = € 4.55m
Negative development in the operating
cash flow as usual at the beginning of a
year. Development in H1/2017 mainly
attributed to reduced trade accounts
payable.
Financing Activities mainly influenced by
dividend payment as of June 2017
Financial results H1/2017
October 2017
42GFT GROUP
TRACKER
1,5101,807 1,802 1,813 1,859 1,977 2,023 2,023 2,032
351
409 454 479676
757 797 727 688
451
458 499 536
551550
554 568 571
442
471489 503
532
590594 576 532
272
273276
285
289
287310 323 325
222
229241
243
237
237235 227
201
173
250289
300
349
351357 389
390
3,421
3,8974,050
4,159
4,493
4,7494,870 4,833
4,739
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
Q2/2015 Q3/2015 Q4/2015 Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017
Others
UK
Germany
Poland
Italy
Brazil
Spain
Financial results H1/2017
Employees by countries (FTE)
October 2017
43GFT GROUP
TRACKER
Peer Group
October 2017
44GFT GROUP
TRACKER
Peer group (limited comparability – not focused on financial sector)
October 2017
Unternehmen FXShare price Market cap EV/sales EV/EBITDA PE
Local curr Local curr m's 2017e 2018e 2017e 2018e 2017e 2018e
1) European-based IT services / financial sector consulting
REPLY (€m) 194.30 1,817 2.0 1.8 14.2 12.7 23.5 20.7
Devoteam (€m) 75.31 627 1.0 0.9 10.3 9.3 22.5 19.7
First Derivatives (£m) 28.47 718 5.1 4.3 27.3 23.8 50.7 44.9
Indra Sistemas (€m) 12.82 2,265 1.0 0.9 10.7 8.8 18.4 13.6
Cap Gemini (€m) 91.98 15,558 1.4 1.3 10.2 9.4 15.5 14.3
2) Global IT services / financial sector consulting
Accenture ($m) 129.13 79,801 2.3 2.2 13.8 12.9 21.9 20.0
Cognizant ($m) 70.28 41,509 2.6 2.4 11.8 10.3 19.1 16.4
Luxoft ($m) 60.85 1,347 2.5 2.0 14.4 12.1 21.1 18.3
EPAM ($m) 81.83 4,298 2.7 2.3 15.1 12.7 24.3 20.2
3) Indian-based IT services / financial sector consulting
HCL Technologies (INR) 882.00 1,258,603 2.4 2.2 11.0 10.2 15.2 14.2
Infosys Ltd (INR) 963.85 2,213,910 2.8 2.6 10.1 9.9 15.4 15.1
Tata Consultancy Services (INR) 2,503.05 4,932,080 3.9 3.7 14.2 14.1 18.8 18.6
Wipro (INR) 287.40 1,398,607 2.1 2.1 10.6 10.6 16.7 16.1
Medians all 2.1 2.0 11.8 10.5 21.1 18.3
GFT Technologies (€m) 16.82 442 1.3 1.2 12.5 11.3 20.4 17.2
Source: Bloomberg August 2017
Appendix
45GFT GROUP
TRACKER
Shaping the future
of digital business
October 2017
GFT Technologies SE
Dr Jochen RuetzCFO
Schelmenwasenstrasse 3470567 Stuttgart
T +49 711 62042-0
GFT Technologies SE
Andrea WlcekGlobal Head of Communications
Schelmenwasenstrasse 3470567 Stuttgart
T +49 711 62042-440F +49 711 62042-301
GFT Technologies SE
Jutta StolpInvestor Relations Manager
Schelmenwasenstrasse 3470567 Stuttgart
T +49 711 62042-591F +49 711 62042-301