GOFORE PLC COMPANY ANNOUNCEMENT 9 SEPTEMBER 2019 AT 13.45

Gofore Plc’s Business Review 1 August–31 August 2019: Public sector customer demand picked up
 
Gofore’s net sales during the review period 1 August–31 August 2019 were EUR 5.3 million (2018: EUR 4.6 million).  The Group had a total of 562 employees at the end of the period.

 CEO Timur Kärki comments on development:
 
“August was two-fold. After the summer holiday period, the beginning of the month was subdued and our clients’ projects did not start as expected. By the end of the month, the situation had returned to normal and our personnel resources were being utilised efficiently. In public administration projects the change of government in Finland reduced the number of invitations to tender at the beginning of the year. The pace picked up in June and has continued throughout August. In August we also won competitive tenders, the most significant being the Tax Administration Finland’s framework agreement supplier selection. Competitive tender wins and other new projects agreed will provide a good backbone for business during the rest of the year”.

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, the company publishes 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. 

Month
  (2019) 
Net sales,
MEUR 
 (net sales 
 2018)1  
Number of employees2  Number of
working days
in Finland 
Overall capacity, FTE3  Subcontracting, FTE4 
August 5.3 (4.6) 562 22 521 56
July 2.2 (2.2) 562 23 535 18
June 5.1 (4.1) 559 19 525 59
May 6.2 (4.4) 558 21 (+ Ascension 
 Day) 
515 60
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 of the review period. A German company, Mangodesign, acquired in June 2019, is counted from 1 July 2019.
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
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 560 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 Nasdaq First North Growth Market Finland. Learn to know us better at www.gofore.com.