Inside information 8.6.2023

Inside information: Gofore Plc’s Business Review 1-31 May 2023: May net sales 17.2 million euros – New agreements in e.g. cyber security

Gofore Plc
8 June 2023 at 1.45 p.m. EET
Inside Information

Inside information: Gofore Plc’s Business Review 1-31 May 2023: May net sales 17.2 million euros – New agreements in e.g. cyber security 

Inside information: In May 2023, Gofore’s net sales were 17.2 (13.1) million euros. The last 12 month (LTM) pro forma net sales were 174.2 million euros in May. The Group employed 1,400 (1,068) people at the end of the month.

CEO Mikael Nylund comments: 

”Gofore’s May went as expected. Before the summer, there are often more tenders than other times, and we are also proud to list a few of the successes in this report. This means to say customer demand has continued a good level on many accounts.

As we announced on 5 June, we succeeded well in the Tax Administration’s extensive tender for IT expert services. The most important thing to us here is the continuation of a long-standing customer relationship, and we will continue to do our best to serve the Tax Administration and the entire Finnish society in important digital projects. The total value of the areas where we were chosen as partner is 106.5 million euros. The value will be divided between three chosen frame agreement suppliers in their ranking order. The appeal period according to the Finnish procurement law is still ongoing. There is a link to the release on this at the end of this report.   

In May, we also got news on a new agreement with the Tax Administration on services related to security and risk management. This win for developing the digital resilience of an important part of society is a significant step for our cyber security services and deepens our collaboration with the Tax Administration. We participated in a tender for a four-year agreement and were chosen as number one supplier in the two areas our of seven that we made an offer for: expert services in cyber security and preparedness. The customer’s estimate of the value of this procurement is 9.2 million euros for two areas and four years, divided between four suppliers in a ranking order. The appeal period according to the Finnish procurement law is still ongoing. 

May also saw a new win with the City of Helsinki, further strengthening our foothold in developing the Helsinki city environment. This newest agreement concerns the city’s system called Allu, used for managing city events and their permission processes. This is a four-year agreement on maintenance and development. In the tender, we got the best quality and price rating and were chosen as the sole partner. With this win, Gofore is now a significant partner to the Helsinki city Urban Environment Division. Development work is ongoing in a team focusing on managing construction site impediments, the new Allu team, as well as our digital solutions team that also operates on other city industries than the environment.    

Gofore’s customer satisfaction was again measured in May. The net promoter score (NPS) rose from 43 a year ago to 56, and overall satisfaction from 4.1 to 4.3. The survey also provided us feedback, based on which our choice to grow strategic partnerships has been the right one.   

Our crew was strengthened with 15 experts in May. Growth in the number of employees typically slows down before the summer due to seasonal changes.” 

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)

 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. 

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.   

Monthly business reviews are published as soon as possible after the numbers are in, at the beginning of the following month for February, April, May, July, August, October, November, and December. Exceptions to this are January’s numbers, included in the full-year financial statements release and March numbers, included in the January-March interim report, and June numbers, included in the half-year report. Gofore also publishes IAS34 compliant interim reports quarterly. 

Read more on the Tax Administration frame agreement:


About Gofore Oyj

Gofore is an international digital transformation consultancy with Finnish roots. We have over 1,300 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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