GOFORE PLC COMPANY ANNOUNCEMENT 12 MARCH 2019 AT 18.00 

Correction: Gofore Plc’s Business Review 1 February-28 February 2019: Strong net sales growth 

Correction: In the English Gofore’s Business Review for February 2019, in the figures table, there were incorrect net sales for January 2019 EUR 5.4 million. January 2019 net sales were EUR 5.2 million. 


Corrected English release below. No changes to the Finnish release.

Gofore Plc’s Business Review 1 February-28 February 2019: Strong net sales growth 

Gofore’s net sales for the period 1 February-28 February 2019 were EUR 5.3 million (2018: EUR 3.8 million). At the end of period, the Gofore Group employed a total of 538 people. 

CEO Timur Kärki comments on February, 2019 development: 
 
“In February we achieved a fairly high net sales of EUR 5.3 million despite the winter holidays. During the month, we made the third acquisition in the company’s history when Silver Planet Oy joined Gofore Group. This transaction had an impact of ten working days on the consolidated net sales in February. The overall billing rate, that caused concern at the end of last year, was above 74% (not including Silver Planet), driven by continued customer demand, but also by organisation’s learning and the growth in organisational efficiency”.     
 
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 is updated as the year progresses.  

Month 
(2019)  
Net sales, 
MEUR 
(Net sales 2018) [1]  
Number of 
employees [2]  
Number of 
working days 
in Finland  
Overall capacity, 
FTE [3] 
Subcontracting 
, FTE [4]  
February   5.3 (3.8)  538   20   487 61
January 5.2 (4.1) 504   22   469   52  

Net sales, MEUR (net sales in 2018), reports net sales (unaudited) for that month.
The number of employees at the end the reported period. 
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. 
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. 

For further information: 
Timur Kärki, CEO, Gofore Plc 
tel. +358 40 828 5886 
timur.karki@gofore.com 
 
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 530 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 First North Finland market administered by Nasdaq Helsinki Ltd. Learn to know us better at www.gofore.com.


For further information: 
Timur Kärki, CEO, Gofore Plc 
tel. +358 40 828 5886
timur.karki@gofore.com 
 
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 530 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 First North Finland market administered by Nasdaq Helsinki Ltd. Learn to know us better at www.gofore.com.