GOFORE PLC COMPANY ANNOUNCEMENT 10 JANUARY 2019 AT 12:50

Gofore Plc's Business Review 1 December-31 December 2018: Net sales EUR 3.8 million in December, 49% growth for the full-year 

Net sales for the period 1 December-31 December 2018 were EUR 3.8 million (2017: EUR 3.2 million).  At the end of period, the Gofore Group employed a total of 495 people. 

"December net sales were EUR 3.8 million (EUR 3.2 million). Full-year net sales totalled EUR 50.6 million, increasing by 49% from year 2017 net sales (EUR 34.0 million). Net sales were affected by the low number of working days and by employees' holidays around Christmas. In December, the company signed further contracts for over EUR 4 million over the existing order book. In addition, on the last day of the year, the Finnish Transport Infrastructure Agency announced a procurement decision on the basis of which, after the appeal period, a further EUR 1 million contract may be agreed. In terms of customer demand, the development of the coming year seems to be promising", comments CEO Timur Kärki.

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. 

Month
(2018) 
Net sales,
MEUR 
(Net sales  
2017) [1] 
Number of
employees [2] 
Number of
working days
in Finland 
Overall capacity,
FTE [3] 
Subcontracting
, FTE [4] 
December 3.8 (3.2) 495 17 460 50
November 5.3 (4.1) 490 22 457 55
October  5.4 (3.9)  481  23  453  55 
September  4.7 (3.7)  475  20  443  52 
August  4.6 (3.4)  476  23  413  46 
July  2.2 (1.3)  419  22  400  24 
June  4.1 (3.2)  423  20  405  50 
May  4.4 (3.3)  413  21 (+ Ascension day)  389  47 
April  4.0 (2.6)  397  20  377  41 
March  4.2 (3.3)  392  21  366  49 
February  3.8 (2.7)  386  20  354  45 
January  4.1 (2.7)  377  22  346  42 

On August 29, 2018, Gofore Plc announced that it has agreed to purchase the entire share capital of Solinor Oy, a specialist in digital solutions. The conditions for carrying out the acquisition were met at the end of August 2018. The Gofore Group figures include Solinor Oy business figures as of 1 September, 2018.

1 Net sales, MEUR, reports net sales (unaudited) for that month. In parentheses, comparing to the previous year, the combined net sales of Gofore Oy and the Leadin Group is presented for January-May. 
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 staff, 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. 
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. 

Further enquiries: 
Timur Kärki, CEO, Gofore Plc 
tel. +358 40 828 5886 
timur.karki@gofore.com 

Certified Adviser: Evli Pankki Plc, tel. +358 40 579 6210 
 
Gofore Plc is a digitalisation specialist operating since 2002. We offer modern services that help operators in the private and public sectors to move with the times. Our mission is to change the world for the better through digitalisation and by renewing the ways of working. Our services cover the entire value chain - from management consultation to service design and implementation as well as cloud services. Gofore currently employs close to 500 people in Helsinki, Jyväskylä, Tampere, Turku, London, Swansea, Munich, Madrid and Tallinn. Gofore was chosen as the best workplace in Finland and the second-best workplace in Europe in the Great Place to Work® 2017 survey. In 2018, our net sales were EUR 50.6 million. Gofore Plc's shares are quoted in the First North Finland market administered by Nasdaq Helsinki Ltd. More information is available at www.gofore.com