Inside information: Gofore Plc’s Business Review July-August 2024: Two-month net sales at 21.7 million euros
Gofore Plc
10 September 2024 at 9 a.m EET
Inside Information
Inside information: Gofore Plc’s Business Review July-August 2024: Two-month net sales at 21.7 million euros
Inside information: Gofore’s net sales were 15.8 (16.9) million euros in August 2024. In July, net sales were 5.9 (5.9) million euros. The Group’s last 12-month (LTM) pro forma net sales were 188.6 million euros in. The Group employed 1,452 (1,448) people at the end of August.
CEO Mikael Nylund comments:
”July-August net sales were 21.7 as expected. The post summer utilisation rate has developed in a positive direction during August as normal, nearing last year’s level at the end of August.
The best news of the reporting season that Kela, the Social Insurance Institution of Finland, chose us to partner with them on the so-called single application model project. This is part of Kela’s strategic development programme and part of the bigger social security renewal aligned by the Orpo government. The significance of our work can best be seen in projects like this with great societal impact. The single application model is on par with pioneering Finnish digital reforms such as Suomi.fi identification service or the Tax Administration’s OmaVero service portal.
Kela’s way of procurement was a competitive negotiation procedure, and Kela’s estimation of the value of this procurement is 10-15 for the entire agreement period. Gofore’s benchmark price according to the request for quotation has been 5.5 million euros.
In the reporting period, we were also invited to join a frame agreement with the wellbeing services county of Kymenlaakso in Southeastern Finland. The agreement that entails project management, service development and leadership development is for two years plus an optional year, and Gofore is involved in all three areas of the agreement with four other suppliers.
We have not, however, fully avoided facing customer savings, as new and earlier curtailing decisions continue to have an impact.
As usual, we timed new recruitment until after the Finnish summer holiday season. We indeed saw a nice number of new Goforeans begin in August, especially in Finland. Meanwhile, we somewhat adjusted our DACH area operations to better match the more difficult demand situation that customer savings caused earlier this year and focused our operations closer to the clientele. Discontinuing our branch office in Bolzano, Italy, lowered the number of our staff and capacity in the reporting period.”
Key Figures
The numbers are unaudited.
|
Month |
Net sales, MEUR |
Pro forma LTM |
Number of employees |
No. of working days |
Full Time Equivalent, |
Subcontracting, FTE |
|
January |
16.9 (15.8) |
193.3 |
1,463 (1,318) |
22 (21) |
1,372 (1,225) |
147 (186) |
|
February |
16.3 (15.3) |
193.7 |
1,461 (1,342) |
21 (20) |
1,372 (1,256) |
149 (184) |
|
March |
16.0 (18.1) |
191.3 |
1,456 (1,354) |
20 (23) |
1,371 (1,271) |
160 (189) |
|
April |
17.0 (14.5) |
193.1 |
1,456 (1,385) |
21 (18) |
1,372 (1,293) |
155 (187) |
|
May |
16.8 (17.2) |
192.3 |
1,455 (1,400) |
21 (21) |
1,369 (1,311) |
159 (192) |
|
June |
14.2 (15.9) |
189.7 |
1,453 (1,396) |
19 (21) |
1,368 (1,319) |
143 (170) |
|
July |
5.9 (5.9) |
189.8 |
1,446 (1,423) |
23 (21) |
1,366 (1 341) |
65 (83) |
|
August |
15.8 (16.9) |
188.6 |
1,452 (1,448) |
22 (23) |
1,366 (1 353) |
144 (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 next financial disclosure is the January-September 2024 Interim Report on 24 October 2024.
Contacts
About Gofore Oyj
Gofore is an international digital transformation consultancy with Finnish roots. We have over 1,400 impact-driven people in 19 locations across Finland, Germany, Austria, Spain, Estonia and Italy. With our technology and business expertise we build an equal digital society and create sustainable solutions for the intelligent industry. Our diverse group of professionals shares a pioneering ambition to create a more humane, sustainable and ethical digital world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2023, our net sales amounted to EUR 189.2 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. Learn to know us better at gofore.com
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