12.11.2025 13:30:00 EET | Gofore Oyj | Other information disclosed according to the rules of the Exchange
Gofore Plc
Other information disclosed according to rules of the stock exchange
12 November 2025 at 1.30 pm EET
Gofore Plc's Business Review for October 2025: October net sales 21.5 million euros
Gofore's net sales were 21.5 (18.8) million euros in October 2025. The 12-month pro forma net sales were 214.4 million euros. The Group employed 1,797 (1,472) people at the end of October, excluding the employees laid off following change negotiations.
The impact of the Huld acquisition closed on 1 September 2025 is included in the numbers of this review, and additionally, Gofore will report Huld's numbers separately in its monthly business reviews for the rest of 2025, ending in the December 2025 business review published in the beginning of January 2026.
CEO Mikael Nylund:
"October net sales were 21.5 (18.8) million euros. Utilisation rate was at the same level as in September, but the autumn holiday period impacted October. Capacity increased alongside growth in the number of employees. Huld's capacity also grew slightly.
Huld's net sales in October did not quite meet expectations. However, the integration of our largest acquisition in history is progressing well, with sales and cost synergies leading the way. On 10 November, we initiated change negotiations to merge the business organisations, during which we will also explore the possibility of workforce reductions among administrative employees in Finland at Gofore Plc and Huld Oy. According to preliminary estimates, the change negotiations may lead to the termination of approximately 17 administrative positions. We estimate that the planned change will bring annual savings of about 1.4 million euros starting from early 2026 and throughout next year, including from the merging of office spaces in Tampere and Oulu.
In October, we won some excellent new openings with our clients. We secured first place among three suppliers in the procurement of analytics expert services for the Finnish Transport Infrastructure Agency for a three-year framework agreement. This strengthens Gofore's position as a reliable provider of analytics and data services in the public sector and opens new opportunities for long-term collaboration with the Finnish Transport Infrastructure Agency alongside our five other joint framework agreements. The appeal period for this contract is still ongoing.
The education sector in Finland continues to trust Gofore, and we won several new contracts in this area in October. We were selected as the sole supplier for the University of Helsinki's digital design system procurement, which includes e.g. concepting, service design, and the development of customer experience and accessibility. The value of this four-year contract is approximately 1.3 million euros and strengthens this already good partnership. Aalto University also chose us as the only partner to develop their design and application development services. The value of this four-year contract for us is about 1.5 million euros. Additionally, CSC IT Center for Science selected us as their sole partner for cyber security management for three years.
The expansion of our artificial intelligence offering has progressed from the launch of the AI Landing Zone and Testing Genius services in the autumn to the development of the AI Beyond Tomorrow transition model. This is a concrete transition model where the adoption of assistive and agentic AI tools and the embrace of new thinking and working methods go hand in hand across six different areas: optimising individual work, streamlining organisational processes, creating new customer value, modernising digital development, establishing a strong data and platform foundation, and accelerating AI transition. This practical model has received encouraging feedback in initial customer discussions."
Release on the change negotiations on 4 November 2025:
https://gofore.com/en/news/gofore-and-huld-begin-planning-for-business-integration-and-trimming-of-overlapping-administration/
Key Figures
The numbers are unaudited. The figures for October 2025 in the table include the acquired Huld business's net sales of 3.7 million euros, number of employees 410, own capacity of 374 FTE, and subcontracting of 18 FTE.
Month | Net sales, MEUR | Net sales, | Number of employees | No. of working | Own capacity, | Sub- |
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) | 179.6 | 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 (1 366) | 149 (144) |
September | 20.7 (17.4) | 215.1 | 1786 (1474) | 22 (21) | 1665 (1380) | 190 (172) |
October | 21.5 (18.8) | 214.4 | 1797 (1472) | 23 (23) | 1684 (1384) | 186 (169) |
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 2026 is available on Gofore's IR website at https://gofore.com/en/invest/investor-calendar/.
Further information: Mikael Nylund, CEO, Gofore Plc
Tel. +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.