Key figures

Key figures

Key figures (IFRS)

EUR thousand, unless otherwise specified 20202 20191
Net sales 77,953 64,066
Growth of net sales, % 21,7 % 26,7 %
EBITDA 12,329 9,223
EBITDA margin – % 15,8 % 14,4 %
EBITA, adjusted 10,778 7,710
EBITA, adjusted, margin – % 13,8 % 12,0 %
EBITA 9,908 7,296
EBITA margin – % 12,7 % 11,4 %
Operating profit (EBIT) 8,750 6,620
Operating profit (EBIT) margin – % 11,2 % 10,3 %
Profit for the period 6,903 5,096
Earnings per share, EPS (diluted)3 0.49 0.37
Return on equity (ROE), % 20,2 % 18,7 %
Return on investment (ROI), % 17,6 % 17,2 %
Equity ratio – % 47,0 % 58,1 %
Net gearing – % -15,4 % -31,9 %
Average overall capacity, FTE 597 517
Average subcontracting, FTE 83 54
Number of employees at the end of the period 724 582

1Silver Planet Oy’s figures have been combined with the Gofore Group figures from 15 February 2019 and mangodesign Finke-Anlauff & Anlauff GbR:n  figures from 1 July 2019.
2Qentinel Finland Oy figures have been combined with the Gofore Group figures from 1 September 2020.
3Diluted EPS equals to undiluted EPS.

Formulas of Key Figures (APM)

EBITDA = Operating profit + depreciations and amortisation
EBITDA margin, % = Operating profit + depreciations and amortisation


Net sales

 x 100
Operating profit before amortisation of intangible assets identified in PPA and impairment of goodwill (EBITA) = Operating profit + amortisation of intangible assets identified in PPA + impairment of goodwill
Operating profit before amortisation of intangible assets identified in PPA and impairment of goodwill (EBITA) margin -% = Operating profit + amortisation of intangible assets identified in PPA + impairment of goodwill


Net sales

 x 100
Operating Profit (EBIT) margin -% = Operating profit


Net sales

 x 100
Earnings per share (EPS), diluted, euros = Profit for the period attributable for shareholders of the company


Weighted average number of shares outstanding during the financial period adjusted for share issues

 x 100
Return on equity (ROE) -% = Profit for the period (annualised)


Average shareholder’s equity

 x 100
Return on investment (ROI) -% = Profit before taxes (annualised) + financial income and expenses (annualised)


Average shareholder’s equity + average interest-bearing loans and borrowings

 x 100
Equity ratio, % = Shareholders’ equity


Balance sheet total – advances received

 x 100
Net gearing, % = Non-current interest-bearing liabilities + Non-current lease liabilities + Current interest-bearing liabilities + Current lease liabilities – Cash and cash equivalents – Other rights of ownership under Current and Non-current investments


Shareholders’ equity

 x 100
Average overall capacity, FTE = The Average overall capacity, FTE (Full Time Equivalent) figure shows the overall capacity of the Group’s personnel, converted into a value corresponding to the number of full-time employees. The figure includes the entire personnel, regardless of their role. The figure is not affected by annual leave, time-off in lieu of overtime, sick leave or other short-term absences. Part-time agreements and other long-term deviations from normal working hours reduce the amount of overall capacity in comparison with the total number of employees. The capacity of acquired companies personnel has been considered as of the acquisition date.
Average subcontracting, FTE = The Average subcontracting, FTE (Full Time Equivalent) figure shows the overall amount of subcontracting used in invoiced work, converted into a value corresponding to the number of full-time employees. Subcontracting used by acquired companies has been included as of the acquisition date.
Number of employees at the end of financial period = The number of employees at the end of the financial period.

Alternative Performance Measures

The Company determines term “Adjusted EBITA” as follows:

Adjusted EBITA = Reported EBITA + (+ goodwill impairment  +/- costs/gains directly related to acquiring business combinations + restructuring costs of business structure – gains of sales of fixed assets + losses of sales of fixed assets).

Gofore applies ESMA (European Securities and Markets Authority) guidelines on alternative performance measures effective from 2016.

Gofore uses and presents the following alternative performance measures to better illustrate the operative development of its business: operating profit before amortization of PPA (EBITA), EBITDA, ROI, ROE, equity ratio and net gearing. PPA amortizations arise from assets recognised in fair value in acquired business combinations.

The items included in the EBITA, adjusted EBITA and EBITDA consist of the following:

Adjusted EBITA and EBITDA

1.1.-31.12.2020 1.1.-31.12.2019
EBIT 8,750 6,620
Amortisation of intangible assets identified in PPA 1,158 677
EBITA 9,908 7,296
Transaction costs from business combinations 321 414
Restructuring costs 562 0
Gains or losses from sales of fixed assets -13 0
Adjusted EBITA 10,778 7,710
EBIT 8,750 6,620
Depreciations 2,421 1,926
Amortisation of intangible assets identified in PPA 1,158 677
EBITDA 12,329 9,223