Gofore Plc
12 January 2024 at 2.15 pm EET
Inside Information
Inside information: Gofore Plc’s Business Review 1-31 December 2023: December net sales 14.3 million euros, full year net sales 189.2 million euros
In December 2023, Gofore’s net sales were 14.3 (13.9) million euros. The last 12 month (LTM) pro forma net sales were 192.3 million euros in December. The Group employed 1,465 (1,297) people at the end of the year.
CEO Mikael Nylund comments:
”Our net sales were 14.3 million euros in December, which had two working days less than the comparison month. Net sales for full year 2023 were 189.2 (149.9) million euros, with 26% growth from 2022.
Our large customer strategy still very much works, and continuation or expansion was agreed on for many of our long-term collaborations in December, although negotiations were held until exceptionally late in the year end. We also agreed on entirely new partnerships, such as an 0.7-million-euro agreement with Vantaa and Kerava Wellbeing Services County on cyber security experts. The agreement period is a fixed-term one for a year and from then on until further notice for a maximum of three years.
Our number of employees decreased by six people in December, with two new employees starting. Typically for the season and reflecting on the market situation, we continue to recruit only for direct customer needs. Although recruitment is scarce for the time being, we continue to persistently develop work satisfaction and recruitment. Gofore’s attractiveness as an IT industry employer clearly grew in 2023, which can be seen in the number of applications received; 6,737 versus 4,808 in 2022. One of our best working life actions, our own collective agreement, was even further improved at the beginning of this year.
We continue to strongly seek growth from the DACH area in addition to Finland. Since the beginning of this new year, our chances of that are improved by the appointment of a new DACH area CEO, Marc Fuchs. Fuchs, who now leads our business in German-speaking Europe, is also a part of the Group management team. You can read more on his background and thoughts from the release linked below. I wish everyone a good new year!”
Release on 4 January on the appointment:
https://gofore.com/en/news/gofore-strengthens-its-growth-in-german-speaking-europe-dr-marc-fuchs-appointed-as-ceo-of-the-dach-area/
Number of working days in Finland in 2024
|
Month |
2024 |
2023 |
|
January |
22 |
21 |
|
February |
21 |
20 |
|
March |
20 |
23 |
|
Q1 total |
63 |
64 |
|
April |
21 |
18 |
|
May |
21 |
21 |
|
June |
19 |
21 |
|
Q2 total |
61 |
60 |
|
July |
23 |
21 |
|
August |
22 |
23 |
|
September |
21 |
21 |
|
Q3 total |
66 |
65 |
|
October |
23 |
22 |
|
November |
21 |
22 |
|
December |
18 |
18 |
|
Q4 total |
62 |
62 |
|
FY Total |
252 |
251 |
Key Figures
The numbers are unaudited.
|
Month |
Net sales, MEUR 1 |
Pro forma LTM |
Number of employees at end of period 3 |
No. of working days in Finland |
Full Time Equivalent, |
Subcontracting, FTE 5 |
|
January |
15.8 (10.8) |
160.6 |
1,318 (993) |
21 (20) |
1,225 (917) |
186 (147) |
|
February |
15.3 (11.3) |
164.2 |
1,342 (1,015) |
20 (20) |
1,256 (942) |
184 (153) |
|
March |
18.1 (13.3) |
168.0 |
1,354 (1,043) |
23 (23) |
1,271 (968) |
189 (155) |
|
April |
14.5 (11.5) |
170.6 |
1,385 (1,056) |
18 (19) |
1,293 (988) |
187 (156) |
|
May |
17.2 (13.1) |
174.2 |
1,400 (1,068) |
21 (21) |
1,311 (1,004) |
192 (163) |
|
June |
15.9 (12.5) |
176.5 |
1,396 (1,074) |
21 (21) |
1,319 (1,015) |
170 (162) |
|
July |
5.9 (4.1) |
182.5 |
1,423 (1,062) |
21 (21) |
1,341 (1,004) |
83 (78) |
|
August |
16.9 (12.9) |
186.1 |
1,448 (1,086) |
23 (23) |
1,353 (1,016) |
166 (156) |
|
September |
18.0 (14.8) |
187.9 |
1,460 (1,126) |
21 (22) |
1,374 (1,060) |
186 (183) |
|
October |
18.7 (14.6) |
191.3 |
1,466 (1,159) |
22 (21) |
1,371 (1,092) |
184 (186) |
|
November |
18.7 (17.2) |
192.8 |
1,471 (1,292) |
22 (22) |
1,376 (1,198) |
181 (199) |
|
December |
14.3 (13.9) |
192.3 |
1,465 (1,297) |
18 (20) |
1,372 (1,210) |
158 (173) |
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 Financial Statements Release for 2023 will be published on Tuesday, 20 February 2024. The dates for financial communications in 2024 are available on Gofore’s IR website: https://gofore.com/en/invest/investor-calendar/.
Contacts
- Mikael Nylund, CEO, Gofore Oyj, +358 40 540 2280, mikael.nylund@gofore.com
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 gofore.com