Ad-hoc | 17 October 2008 16:10
GFT Technologies AG / Preliminary Results/Profit Warning
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.
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The escalation of the financial market crisis in recent weeks has unsettled
clients across all industries. As a consequence, we have begun to
experience subdued demand, which has affected the earnings of the GFT
Group. The Software division was particularly affected by the hesitant
buying behaviour of the clients, which has had a negative impact on the
Group wide earnings. In the business division Resourcing,
by contrast, GFT is expecting a slight increase in revenue in the third
quarter compared to the previous quarter. The financial market crisis and
the accompanying global economic downturn, however, lead to slightly
reduced margins compared to the previous year. The Services division
developed steadily with revenues, as well as earnings, corresponding to our
expectations.
For earnings before taxes in the period from July to September 2008, GFT is
expecting a slight increase of 20 per cent to € 2.1m compared to the
previous quarter. Pre-tax earnings for the nine-month period are thus lower
than originally planned, standing at € 4.3m (previous year: € 8.7m).
In total, the GFT Group is expecting revenues of € 61.6m for the third
quarter, which corresponds to an increase of two per cent compared to the
previous quarter. This results in revenues for the first nine months of the
current financial year of € 177.5m compared to € 176.3m in the previous
year (30 September 2007).
Against this backdrop the GFT Board has lowered its forecasts for the
entire year. For the current year it is expecting a Group revenue of € 240m
and earnings before taxes of € 6m.
Andrea Wlcek
Head of Corporate Communications and Investor Relations
GFT Technologies AG
Filderhauptstraße 142
70599 Stuttgart
T +49 711 62042-440
F +49 711 62042-301
andrea.wlcek@gft.com
www.gft.com
17.10.2008 Financial News transmitted by DGAP
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Language: English
Issuer: GFT Technologies AG
Filderhauptstr. 142
70599 Stuttgart
Deutschland
Phone: +49 (0)711/62042-0
Fax: +49 (0)711/62042-101
E-mail: Investor-Relations@gft.com
Internet: www.gft.com
ISIN: DE0005800601
WKN: 580060
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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