Gofore Plc’s Business Review 1 April–30 April 2019: Subdued April, strong beginning of the year

Gofore’s net sales at the end of the review period 1 April–30 April 2019 were EUR 5.5 million (2018: EUR 4.0 million).  The Group had a total of 552 employees at the end of the period.

CEO Timur Kärki comments on development:
“Net sales for April were EUR 5.5 million, which is an increase of 37.4% in comparison to last year. The start of the second quarter was more subdued than expected due to the contraction of cooperation with a few major customers. In particular, this led to a reduction in services produced by subcontracting. Net sales were EUR 22.1 million at the beginning of the year. Net sales increased by 37.1% in comparison to the same period in 2018”. 

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. The reviews also include key indicators that further facilitate transparency of the company’s growth strategy and comparisons between different periods. Reporting has been supplemented with the Full Time Equivalent (FTE) figure as well as subcontracting FTEs. Additionally, in the monthly Business Reviews for the quarter ending in March and September, Gofore Plc will publish the Group’s EBITA and EBITA-% as well as corresponding figures for the same period in the previous year.

The figures are unaudited.
The table is updated as the year progresses.

Net sales,
 (Net sales 
 2018) [1] 
Number of
 employees [2] 
Number of
 working days
 in Finland 
Overall capacity,
 FTE [3] 
 , FTE [4] 
April 5.5 (4.0) 552 20 504 57
March 6.1 (4.2) 544 21 500 66
February  5.3 (3.8)  538  20  487 61 
January  5.2 (4.1)  504  22  469  52 

1 Net sales, MEUR (net sales in 2018), reports net sales (unaudited) for that month.
2 The number of employees at the end the reported period.
 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 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.
 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. Subcontracting used by Silver Planet Oy has been included as of 15 February, 2019.

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 Finnish digitalisation specialist with international growth plans. We’re made up of some 550 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.