10.12.2025 08:39:35 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
10 December 2025 at 8.40 am EET
Gofore Plc's Business Review for November 2025: November net sales 20.3 million euros
Gofore's net sales were 20.3 (17.7) million euros in November 2025. The 12-month pro forma net sales were 213.6 million euros. The Group employed 1,794 (1,469) people at the end of November.
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:
"November net sales were 20.3 (17.7) million euros. The utilisation rate improved further compared to October and was at a good level. There were quite a few project urgencies, as is typical in November with the year-end rally. There was one less working day than in the comparison period.
Capacity continued to grow as it did in October. In November, particularly the subcontracting capacity increased, largely due to the increased demand from one customer.
In our Intelligent Industry customer sector, there has been good demand and a few larger wins in November.
The drivers behind Huld's net sales improved slightly compared to October, although net sales were not yet fully at our expected level. However, our joint offering has received a very positive reception. In the Defence & Space sector, we are negotiating two interesting projects at the intersection of space technology and defense, related to SAR (Synthetic Aperture Radar) satellite imaging and SAR intelligence, i.e. the utilisation of related data. You can read more about this behind the link at the end.
Highlights of November sales again included expert services in the education sector. We mentioned in the October review that CSC's IT Center of Science selected us as the sole partner for security management for three years. Our long collaboration continues with the extension of design and management as well as development and maintenance services. CSC selected us as priority partner out of five suppliers to develop their solutions for digitalisation and internal data production. The value of this four-year contract for us is approximately 4.8 million euros.
In the early days of December, we concluded the change negotiations to merge Huld's operations into Gofore's organisation and to eliminate administrative overlaps. As a result of the negotiations, we took measures that will lead to discontinuing a maximum of 14 employment contracts in the administration of Gofore Plc and Huld Ltd. in Finland. This, combined with the reduction of other administrative overlaps and the streamlining of administration, brings annual savings of approximately 1.3 million euros, which will be realised gradually during the end of the year and the early part of 2026. The business organisations and support functions of Gofore and Huld will merge in early 2026."
More on Huld's SAR development work:
https://huld.io/news/capability-development-for-sar-intelligence-at-huld/
Release on change negotiations on 3 December 2025:
https://gofore.com/en/news/change-negotiations-related-to-the-integration-of-gofores-and-hulds-operations-and-trimming-of-overlapping-administration-concluded/
Key Figures
The numbers are unaudited. The figures for November 2025 in the table include the acquired Huld business's net sales of 3.5 million euros, number of employees 406, own capacity of 372 FTE, and subcontracting of 17 FTE.
Month | Net sales, MEUR | Net sales, | Number of | 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) |
November | 20.3 (17.7) | 213.6 | 1794 (1469) | 20 (21) | 1687 (1371) | 200 (166) |
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.