Key figures

Key figures

Gofore Plc has prepared the following unaudited IFRS financial information to provide investors with comparative informationthe company’s key figures as at and for the six months ended 30.6.2020 with comparatives for 2019. Additionally the corresponding information for the financial year ended 31.12.2019 is included.

In addition, the IFRS key figures in the table below include as at and for the nine months ended 30.9.2020 with comparatives for 2019. Key figures for the 1.1.–30.9.2020 include the acquisition ofQentinel Finland Oy made on 1.9.2020.

Additional information on the historical financial information prepared in accordance with FAS is available on the tables at the end of this page.

IFRS Key Figures

EUR thousand, unless otherwise specified 1.1.-30.9.2020 1.1.-30.9.2019 1.1.-30.6.2020 1.1.-30.6.2019 1.1.-31.12.2019
Net Sales 53 668 46 800 37 376 33 453 64 066
EBITDA 8 275 6 979 6 102 5 405 9 223
EBITDA margin -% 15,4 % 14,9 % 16,3 % 16,2 % 14,4 %
EBITA, Adjusted 7 517 5 964 5 629 4 835 7 710
EBITA, Adjusted, margin -% 14,0 % 12,7 % 15,1 % 14,5 % 12,0 %
EBITA 6 495 5 550 4 911 4 466 7 296
EBITA margin -% 12,1 % 11,9 % 13,1 % 13,3 % 11,4 %
Operating Profit (EBIT) 5 789 5 082 4 495 4 205 6 620
Operating Profit (EBIT) margin -% 10,8 % 10,9 % 12,0 % 12,6 % 10,3 %
Profit for the period 4 203 3 868 3 236 3 217 5 096
Earnings per share, EPS (diluted) * 0,30 0,28 0,23 0,24 0,37
Equity ratio -% 47,1 % 59,2 % 56,9 % 54,8 % 58,1 %
Net gearing -% -4,6 % -21,3 % -29,5 % -13,3 % -33,4 %
* EPS diluted equals to EPS undiluted

Formulas of Key Figures

EBITDA = Operating profit + depreciations and amortisation
EBITDA margin, % = Operating profit + depreciations and amortisation x 100
Net sales
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 x 100
Net sales
Operating Profit (EBIT) margin -% = Operating profit x 100
Net sales
Earnings per share (EPS), diluted, euros = Profit for the period attributable for shareholders of the company x 100
Weighted average number of shares outstanding during the period adjusted for share issues
Equity ratio, % = Shareholders equity x 100
Balance sheet total – advances received
Net gearing, % = Long term loans from credit institutions + Non-current lease liabilities + Short term loans from credit institutions + Current lease liabilities – Cash in hand and at banks – Other rights of ownership under Current and Non-current investments x 100
Shareholder equity


Alternative Performance Measures

   
New ESMA (European Securities and Markets Authority) guidelines on alternative performance measures have been effective from 2016 fiscal year. Gofore uses and presents operating profit before amortization of PPA (EBITA), EBITDA, ROI, ROE, equity ratio and net gearing alternative performance measures to better illustrate the operative development of its business. PPA amortizations arise from assets recognised in fair value in acquired business combinations.
Adjusted EBITA                                                                    
The Company determines term “Adjusted EBITA” as follows:
Reported EBITA +  ( +/- 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).
Adjusted EBITA (IFRS):    
1.1.-30.9.2020 1.1.-30.9.2019 1.1.-30.6.2020 1.1.-30.6.2019 1.1.-31.12.2019
EBITA 6 495 5 550 4 911 4 466 7 296
Direct costs related to acquiring business combinations 304 414 0 369 414
Restructuring costs of business structure 718 0 718 0 0
Gains of sales of fixed assets 0 0 0 0 0
Losses of sale of fixed assets 0 0 0 0 0
Adjusted EBITA 7 517 5 964 5 629 4 835 7 710
EBITA, Adjusted, margin -%:
Adjusted EBITA 7 517 5 964 5 629 4 835 7 710
Net sales 53 668 46 800 37 376 33 453 64 066
EBITA, Adjusted, margin -% 14,0 % 12,7 % 15,1 % 14,5 % 12,0 %

Additional information on the historical financial information prepared in accordance with FAS is available below:

Reported

1.1.–31.12.
2019 2018 2017 2016 2015
 EUR, million, unless otherwise stated Unaudited unless otherwise stated
Net sales 64.11) 50.61) 34.01) 18.61) 12.41)
Net sales growth, % 26.7 49.0 82.4 49.9
EBITDA 2) 8.2 7.0 5.8 2.7 1.6
EBITDA-margin, %2) 12.8 13.8 17.1 14.6 12.9
Operating profit before amortization of goodwill (EBITA)2) 8.0 6.8 5.7 2.6 1.6
Operating profit before amortization of goodwill (EBITA) margin, %2) 12.5 13.4 16.8 14.1 12.5
Operating profit (EBIT) 6.11) 6.11) 5.41) 2.61) 1.61)
Operating profit (EBIT) margin 9.5 12.0 15.81) 14.1 12.51)
Profit for the period 4.41) 4.71) 3.31) 2.11) 1.21)
Adjusted profit for the period2) 6.3 5.4 4.8 2.1 1.2
Earnings per share (EPS), undiluted, euro2) 0.33 0.36 0.28 0.20 0.12
Adjusted earnings per share (adjusted EPS), undiluted, euro2) 0.47 0.41 0.41 0.20 0.12
Number of shares outstanding at the end of the period (adjusted for share split) 14,012,628 13,116,982 12,948,800 10,560,000 10,560,000
Equity ratio, %2) 64.6 63.8 60.8 54.1 49.8
Net gearing, % 2) -51.0 -51.2 -47.3 -97.9 -90.6
Return on equity (ROE), % 2) 16.6 23.8 30.31) 63.3 57.31)
Return on investment (ROI), % 2) 18.7 24.9 22.5 77.1 65.8
Number of employees at the end of the period 582 495 374 196 132

1) Audited

2) Alternative performance measure. The Company presents alternative performance measures as additional information to financial measures presented in the consolidated statement of income, consolidated statement of financial position and consolidated statement of cash flows prepared in accordance with FAS. In the Company’s view, the alternative performance measures provide management, investors, securities analysts and other parties with significant additional information related to the Company’s results of operations, financial position and cash flows.

Calculation of key figures (FAS)

Net sales growth, % =( Net sales of the reporting period


Net sales of the reference period

– 1) x 100
 EBITDA = Operating profit + deprecation and amortization
EBITDA margin, % = Operating profit + deprecation and amortization


Net sales

 x 100
Operating profit before amortization of goodwill (EBITA) = Operating profit + amorization of goodwill
Operating profit before amortization of goodwill (EBITA) margin, % = Operating profit + amortization of goodwill


Net sales

 x 100
Adjusted profit for the period = Profit for the period + amortization of goodwill + extraordinary financial expenses 1)
Equity ratio, % = Shareholders’ equity


Balance sheet total – advances received

 x 100
 Net gearing, % = Long term loans from credit institutions + Short term loans from credit institutions – Cash in hand and at banks – Other rights of ownership under Non-current investments


Shareholders’ equity

 x 100
 Return on equity (ROE), % = Profit for the period (annualized)


Average shareholders’ equity

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


Average shareholders’ equity + average interest-bearing debt

 x 100
Earnings per share (EPS), undiluted, euro = Profit for the period


Average number of shares outstanding during the period (adjusted for share split)

 x 100
Adjusted earnings per share (adjusted EPS), undiluted, euro = Adjusted profit for the period


Average number of shares outstanding during the period (adjusted for share split)