Company Announcement 10.12.2019

Gofore Plc: Gofore Plc’s Business Review 1 November–30 November 2019: Net sales EUR 6.0 million


Gofore Plc’s Business Review 1 November–30 November 2019: Net sales EUR 6.0 million

Gofore’s net sales during the review period 1 November–30 November 2019 were EUR 6.0 million (2018: EUR 5.3 million). The Group had a total of 582 employees at the end of the period.

CEO Timur Kärki comments on development:

“November net sales, in proportion to the number of working days, are in line with what was already seen in October. There is continuous demand for our expertise, because we have succeeded in evolving and providing our customers with the best expertise and customer experience. Several new customer relationships began in November, with high expectations for future net sales. The month of December started off positively as well, with the inclusion of Caruna Oy’s substantial agile development and maintenance framework. Customer demand for the coming year seems excellent. The company’s challenge is to be able to meet this demand by increasing its own and subcontracted capacity.”

In the Business Reviews, in addition to the month’s net sales, the net sales of the corresponding month in the previous year is published. The reviews also include key indicators that further facilitate transparency of the company’s growth strategy and comparisons between different periods. Reporting has been supplemented with the Full Time Equivalent (FTE) figure as well as subcontracting FTEs. Additionally, in the monthly Business Reviews for the quarter ending in March and September, the company publishes the Group’s EBITA and EBITA-% as well as corresponding figures for the same period in the previous year.

The figures are unaudited.

The table is updated as the year progresses.

Net sales,
(net sales
Number of employees2 Number of
working days
in Finland
Overall capacity, FTE3 Subcontracting, FTE4
November 6.0 (5.3) 582 21 537 57
October 6.6 (5.4) 580 23 537 54
September 5.9 (4.7) 578 21 532 55
August 5.3 (4.6) 562 22 521 56
July 2.2 (2.2) 562 23 535 18
June 5.1 (4.1) 559 19 525 59
May 6.2 (4.4) 558 21 (+ Ascension
515 60
April 5.5 (4.0) 552 20 504 57
March 6.1 (4.2) 544 21 500 66
February 5.3 (3.8) 538 20 487 61
January 5.2 (4.1) 504 22 469 52

1 Net sales, MEUR (net sales in 2018), reports net sales (unaudited) for that month.
2 The number of employees at the end of the review period. A German company, Mangodesign, acquired in June 2019, is counted from 1 July 2019.
3 The 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 Silver Planet Oy’s personnel has been taken into account as of 15 February 2019.
4 The Subcontracting, FTE (Full Time Equivalent) figure shows the overall amount of subcontracting used in invoiceable work, converted into a value corresponding to the number of full-time employees. Subcontracting used by Silver Planet Oy has been included as of 15 February 2019.

Further enquiries:
Timur Kärki, CEO, Gofore Plc
tel. +358 40 828 5886

Certified Adviser: Evli Bank Plc, tel. +358 40 579 6210

Gofore Plc is a Finnish digitalisation specialist with international growth plans. We’re made up of some 580 people across Finland, Germany, Spain, United Kingdom and Estonia – top experts in our industry who are our company’s heart, brain, and hands. We use consulting, coding and design as tools to incite positive change. We care for our people, our customers, and the surrounding world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2018, our net sales amounted to EUR 50.6 million. Gofore Plc’s shares are quoted in the Nasdaq First North Growth Market Finland. Learn to know us better at

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