Inside information 12.12.2023

Inside information: Gofore Plc’s Business Review 1-30 November 2023: November net sales 18.7 million euros, high satisfaction within large customers

Gofore Plc
12 December 2023 at 11.20 EET
Inside Information 

Inside information: Gofore Plc’s Business Review 1-30 November 2023: November net sales 18.7 million euros, high satisfaction within large customers 

In November 2023, Gofore’s net sales were 18.7 (17.2) million euros. The last 12 month (LTM) pro forma net sales were 192.8 million euros in November. The Group employed 1,471 (1,292) people at the end of the month.

CEO Mikael Nylund comments: 

”In November, our net sales were 18.7 million euros, so we continued on October’s strong level. 

We won e.g. an agreement on developing the ICT services of the Western Uusimaa Wellbeing Services County. You can read more on this in the stock exchange release linked below. We also won a tender of the City of Tampere and its surrounding counties on the further development and maintenance of their early childhood education service system. This four-year agreement is worth some 2.5 million euros. Developing the customer experience of early childhood education services from both administrative user and parent viewpoint is in the core of our Digital Society sector’s development of societal digital services.   

Based on the discussions we have had with customers in November, we know it looks like next year’s budgets may face savings pressures. We believe that for some of our customers this means cutting back on next year’s plans and projects.

Our large customer strategy works, and satisfaction of customers of any size is also important to us. In November, we surveyed our customer satisfaction, as every six months, and the net promoter score of our customers was a delightful 55, i.e. on the level of last spring (56). Most importantly, the NPS of our strategic accounts was even higher, 62. Overall customer satisfaction stood at 4.4 (on a scale of 1-5). 

Our number of employees grew by five people only in November as expected, and it’s a sign of us continuing to recruit slowly. With covid and seasonal flus, the ample sick leaves affected customer working hours somewhat. As for available consultant capacity, more customer work hours could have been put in. 

November was made brighter by the start of the Gofore Impact Foundation, which is something I am personally very proud of. With the foundation, we help and exceed digitalisation’s potential even more than we can with our customer work. As far as we know, the foundation is the first one of its kind in Finland. There is also more information on that in our release linked below. With this Christmas present of ours I wish everyone peaceful holidays on behalf of the entire Gofore team!”

Stock exchange release on 20 November on the wellbeing service county deal:

Release on 4 December on starting the foundation:

Key Figures 

The numbers are unaudited. 


Net sales, MEUR 1

Pro forma LTM
Net sales 2

Number of employees
at end of period 3

No. of working days in Finland

Full Time Equivalent,

Subcontracting, FTE5


15.8 (10.8)


1,318 (993)

21 (20)

  1,225 (917)

186 (147)


15.3 (11.3)


1,342 (1,015)

20 (20)

1,256 (942)

184 (153)


18.1 (13.3)


1,354 (1,043)

23 (23)

1,271 (968)

189 (155)


14.5 (11.5)


1,385 (1,056)

18 (19)

1,293 (988)

187 (156)


17.2 (13.1)


1,400 (1,068)

21 (21)

1,311 (1,004)

192 (163)


15.9 (12.5)


1,396 (1,074)

21 (21)

1,319 (1,015)

170 (162)


5.9 (4.1)


1,423 (1,062)

21 (21)

1,341 (1,004)

83 (78)


16.9 (12.9)


1,448 (1,086)

23 (23)

1,353 (1,016)

166 (156)


18.0 (14.8)


1,460 (1,126)

21 (22)

1,374 (1,060)

186 (183)


18.7 (14.6)


1,466 (1,159)

22 (21)

1,371 (1,092)

184 (186)


18.7 (17.2)


1,471 (1,292)

22 (22)

1,376 (1,198)

181 (199)

Unless otherwise stated, comparing figures presented in brackets refer to the corresponding period of the previous year. 

eMundo GmbH’s figures have been consolidated into Gofore Group’s figures as of 1 November 2022, and Creanex Ltd’s numbers as of 3 July 2023. 

1) Net sales, MEUR (net sales in 2022) indicates the unaudited net sales for the month in question.    
2) The last twelve months (LTM) pro forma net sales figure that the company uses tells the net sales for the Group structure of the time of reporting. The pro forma net sales include the impact of acquisitions and divestments and is unaudited. 
3) Number of employees at the end of the review period.   
4) 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 agreement sand other long-term deviations from normal working hours reduce the amount of overall capacity in comparison with the total number of employees. The personnel capacity of corporate acquisitions has been accounted for as of the date of the acquisition.
5) 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. The subcontracting of the companies acquired by Gofore has been accounted for as of the date of the acquisition. 

Gofore’s financial reporting 

In its monthly business review, Gofore discloses its monthly net sales, last twelve-month pro forma net sales and number of employees with comparison figures, as well as other indicators that help evaluate the company’s growth strategy execution, such as the Full Time Equivalent (FTE) numbers that describe overall capacity and the ratio of subcontracting.   

Gofore publishes IAS34 compliant interim reports quarterly. The dates for financial communications in 2024 are available on Gofore’s IR website:


About Gofore Oyj

Gofore is an international digital transformation consultancy with Finnish roots. We have over 1,400 impact-driven people in 19 locations across Finland, Germany, Austria, Spain, Estonia and Italy. With our technology and business expertise we build an equal digital society and create sustainable solutions for the intelligent industry. Our diverse group of professionals shares a pioneering ambition to create a more humane, sustainable and ethical digital world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2022, our net sales amounted to EUR 149.9 million. Gofore Plc’s share is listed on the Nasdaq Helsinki Ltd. in Finland. Our vision is to be the most significant digital transformation consultancy in Europe. Learn to know us better at

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