Gofore - Expectations fairly well met
Gofore’s EBITA/adj. EBITA of EUR 5.0m/5.1m in H2 were somewhat in line with expectations (Evli 4.8m/5.5m). Revenue grew 32.5% to EUR 40.6m in H2 (pre-announced). Revenue and adj. EBITA in 2021 are expected to grow compared with 2020. Gofore’s BoD proposes a dividend of EUR 0.24 per share (Evli EUR 0.25).
- Gofore’s H2/20 net sales amounted to EUR 40.6m (pre-announced), with sales growth of 32.5% compared to H2/19 figures. Q4 was particularly strong, with growth of 40%, of which roughly half was attributable to organic growth and the other half to inorganic growth from the Qentinel Finland acquisition.
- EBITA and adj. EBITA in H2 amounted to EUR 5.0m and EUR 5.1m respectively, somewhat in line with our estimates (Evli EUR 4.8m/5.5m), at margins of 12.3%/12.7%. EBIT amounted to EUR 4.3m (Evli EUR 4.3m), at a 10.5% EBIT-margin.
- Guidance for 2021: Gofore estimates that its revenue and adj. EBITA in 2021 will grow compared to 2020.
- Dividend proposal: Gofore’s BoD proposes a dividend distribution of EUR 0.24 per share (Evli EUR 0.25).
- The number of personnel at the end of the period was 724 (H2/19: 582).