9.9.2025 16:15:01 EEST | Gofore Oyj | Other information disclosed according to the rules of the Exchange
Gofore Plc
Stock exchange release
Other information disclosed according to rules of the exchange
9 September 2025 at 4.15 pm EET
Gofore Plc's Business Review July-August 2025: July-August net sales total 20.4 million euros
Gofore's net sales were 5.8 (5.9) million euros in July 2025 and 14.7 (15.8) million euros in August 2025. The last 12-month pro forma net sales were 178.3 million euros in August. At the end of August, the Group employed a total of 1,373 (1,452) people, excluding employees laid off as a result of change negotiations. The impact of the Huld acquisition on the number of employees as of 1 September 2025 is also not yet reflected in the figures of this report.
CEO Mikael Nylund:
"The combined net sales for July and August were 20.4 million euros. The utilisation rate after the summer holiday period improved during August and reflects a rather good employment situation. The utilisation rate in August was slightly better than the previous year.
Late summer was a pleasantly busy time commercially, especially in the private sector, where based on requests for proposals, there is still evidence of pent-up demand emerging, particularly in the food industry and manufacturing.
One significant win of the summer was being selected as one of two suppliers for the Finnish Customs' extensive maintenance and development framework arrangement, which includes the development and maintenance of demanding information systems, architecture and infrastructure in Customs' IT projects. The value of this five-year contract, with three optional years, is approximately 13 million euros in total for the entire contract period, based on the pricing level of the offers.
Gofore is an even stronger choice as a cybersecurity partner. Fintraffic Railway selected us as one of three suppliers in the competitive bid for a cybersecurity expert service framework agreement. The total value of this contract, which lasts four years with two optional years, is approximately 5.9 million euros.
The most significant event of the summer for our growth strategy was, of course, the acquisition of Huld, which we completed as planned on 1 September 2025. The initial purchase price paid was 41.4 million euros, of which approximately 4.1 million euros (10%) was made through a directed share issue to the Sentica Buyout V fund and individual owners, and about 37.3 million euros (90%) was paid in cash. The purchase price consists of the enterprise value of 54.5 million euros, net cash, and net debt. Gofore's Board executed a directed share issue as part of the payment of the purchase price, and all shareholders of the Huld Group have become shareholders of Gofore.
The initial steps of the integration of this exceptionally well-received acquisition have already been taken, and our team is working well together, prioritising customer synergies. It is great to continue from here!"
Stock exchange release on 1 September 2025:
https://gofore.com/en/news/gofores-huld-acquisition-completed-directed-issue-as-part-of-the-purchase-price-payment/
Key figures
The numbers are unaudited.
Month | Net sales, MEUR | Net sales, | No. of | No. of working | Own capacity, FTE | Subcontracting, |
January | 15.6 (16.9) | 184.9 | 1470 (1463) | 21 (22) | 1387 (1372) | 148 (147) |
February | 14.8 (16.3) | 183.3 | 1470 (1461) | 20 (21) | 1381 (1372) | 144 (149) |
March | 16.1 (16.0) | 183.4 | 1469 (1456) | 21 (20) | 1379 (1371) | 150 (160) |
April | 15.5 (17.0) | 181.8 | 1470 (1456) | 20 (21) | 1388 (1372) | 163 (155) |
May | 15.5 (16.8) | 180.5 | 1472 (1455) | 20 (21) | 1381 (1369) | 163 (159) |
June* | 13.2 (14.2) | 179.2 | 1390 (1453) | 20 (19) | 1313 (1368) | 149 (143) |
July | 5.8 (5.9) | 179.4 | 1380 (1452) | 23 (23) | 1304 (1366) | 72 (65) |
August | 14.7 (15.8) | 178.3 | 1373 (1452) | 21 (22) | 1298 (1366) | 149 (144) |
* The 2025 number of employees and own capacity have since the beginning of June been reported anticipating the total impact of laid off employees although not all employment relationships have yet ended.
Gofore's financial reporting
In its monthly business review, Gofore discloses its monthly net sales, last twelve-month pro forma net sales and number of employees, as well as other indicators that help track the company's growth strategy execution with comparison figures, such as the Full Time Equivalent (FTE) numbers that describe overall capacity and the ratio of subcontracting. Gofore publishes IAS34 compliant interim reports quarterly.
Gofore's financial communications calendar for 2025 is available on Gofore's IR website at https://gofore.com/en/invest/investor-calendar/.
Further information:
Mikael Nylund, CEO, Gofore Plc
t. +358 40 540 2280
mikael.nylund@gofore.com
Contacts
- Emmi Berlin, IR & PR Lead, +358400903260, emmi.berlin@gofore.com
About Gofore Oyj
Gofore is an international digital transformation consultancy with Finnish roots. We employ nearly 1,800 experts across 23 cities in Finland, Germany, Austria, Czech Republic, Spain, and Estonia. With our technology and business expertise, we work for functional, secure and equal services for the digital society and sustainable solutions for the intelligent industry. Our diverse group of professionals share a pioneering ambition to create a more humane and responsible digital world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2024, our net sales amounted to EUR 186,2 million. Gofore Plc's share is listed on the Nasdaq Helsinki Ltd. in Finland. Our vision is to be the most significant digital transformation consultancy in Europe.
