Breaking News
Investing Pro 0
💎 Access the Market Tools Trusted by Thousands of Investors Get Started

GFT: Underlying Organic Growth Expands To 19% In Q2

By Edison Stock MarketsAug 16, 2016 01:31AM ET
www.investing.com/analysis/gft---underlying-organic-growth-expands-to-19-in-q2-200148091
GFT: Underlying Organic Growth Expands To 19% In Q2
By Edison   |  Aug 16, 2016 01:31AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
GFTG
-1.26%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

GFT Technologies AG (DE:GFTG): Revenue growth picked up in Q2, despite the challenging banking sector backdrop, as strong demand for digitisation projects in the commercial banking sector in Europe outweighed project deferrals in the Anglo Saxon investment banking markets. Consequently, management edged up revenue guidance but eased profit guidance. Management expects investment banking IT activity to recover in H2 or FY17, as the sector needs to invest in IT to remain competitive. We have lowered our EPS in FY16 and FY17, while FY18 is broadly maintained. Given that management’s long-term outlook is sustained, we believe the shares are attractive on c 14x our FY18 earnings.

GFT
GFT

Q2 results: Total group revenue up 23% in Q2

Q2 organic revenue grew by 19.2% at constant currencies, or 17.1% after the currency headwind due to the decline in sterling. Revenue from Adesis Netlife, acquired in June 2015, along with an initial contribution from Habber Tec, took total Q2 group revenue to €110.6m. Q2 adjusted EBITDA rose by 11% to €11.4m, reflecting a 106bp decline in the margin. For the full H1 period, organic revenue grew by 13.5%, before a 1.7% currency headwind, to €199.8m. The acquisitions took the total H1 revenue to €208.0m, up 16.4%. While net debt rose from €36.4m to €70.3m over H1, we note that the group generates its strongest cash flows in H2. Outstanding acquisition liabilities of €15.9m take the adjusted net debt to €86.2m.

To read the entire report Please click on the pdf File Below

GFT: Underlying Organic Growth Expands To 19% In Q2
 

Related Articles

GFT: Underlying Organic Growth Expands To 19% In Q2

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email