Company Announcement 5.10.2018

Gofore Plc: Gofore Plc’s Business Review 1 September-30 September 2018: Record monthly net sales, 37% growth for the quarter


Gofore Plc’s Business Review 1 September30 September 2018: Record monthly net sales, 37% growth for the quarter

Net sales for the period 1 September-30 September 2018 were EUR 4.7 million (2017: EUR 3,7 million). At the end of period, the Gofore Group employed a total of 475 people.

“In September, we achieved our new monthly net sales record EUR 4.7 million. Net sales for the third quarter were EUR 11.5 million (EUR 8.4 million). The integration of Solinor Oy into the Group boosted our September growth. When comparing the monthly figures, it should be noted that there were 20 working days in September as compared to 23 in August. During the autumn our UK operations have expanded in line with our strategy; in addition to Swansea, we now also operate in London”, comments CEO Timur Kärki.

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. Reporting has been supplemented with the Full Time Equivalent (FTE) figure as well as subcontracting FTEs. These additions will further facilitate transparency at the monthly level of the company’s growth strategy as well as the transparency of the company’s business.

The figures are unaudited.

The table below will be completed as the year progresses.

Net sales,
(Net sales
2017) [1]
Number of
employees [2]
Number of
working days
in Finland
Overall capacity,
FTE [3]
, FTE [4]
September 4.7 (3.7) 475 20 443 52
August 4.6 (3.4) 476 23 413 46
July 2.2 (1.3) 419 22 400 24
June 4.1 (3.2) 423 20 405 50
May 4.4 (3.3) 413 21 (+ Ascension day) 389 47
April 4.0 (2.6) 397 20 377 41
March 4.2 (3.3) 392 21 366 49
February 3.8 (2.7) 386 20 354 45
January 4.1 (2.7) 377 22 346 42

On August 29, 2018, Gofore Plc announced that it has agreed to purchase the entire share capital of Solinor Oy, a specialist in digital solutions. The conditions for carrying out the acquisition were met at the end of August 2018. The Gofore Group figures include Solinor Oy business figures as of 1 September, 2018.

1 Net sales, MEUR (net sales in 2017), reports net sales (unaudited) for that month. In parentheses, comparing to the previous year, the combined net sales of Gofore Oy and the Leadin Group is presented for January-May.
2 The number of employees at the end of September, 2018.
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 staff, 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 staff.
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.

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 digitalisation specialist operating since 2002. We offer modern services that help operators in the private and public sectors to move with the times. Our mission is to change the world for the better through digitalisation and by renewing the ways of working. Our services cover the entire value chain – from management consultation to service design and implementation as well as cloud services. Gofore currently employs over 470 people in Helsinki, Jyväskylä, Tampere, Turku, London, Swansea, Munich and Madrid. Gofore was chosen as the best workplace in Finland and the second-best workplace in Europe in the Great Place to Work® 2017 survey. In 2017, our net sales were EUR 34 million. Gofore Plc’s shares are quoted in the First North Finland market administered by Nasdaq Helsinki Ltd. More information is available at

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