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Gofore Plc: Gofore Plc's Business Review 1 – 31 October 2021: Autumn’s strong breeze continued – Gofore named Employer Brand of the Year

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GOFORE PLC STOCK EXCHANGE RELEASE INSIDE INFORMATION 8 NOVEMBER 2021 AT 14:25

Gofore Plc's Business Review 1 – 31 October 2021: Autumn’s strong breeze continued – Gofore named Employer Brand of the Year

Gofore’s net sales in October 2021 amounted to EUR 10.2 million (EUR 8.7 million). At the end of the period, the group employed a total of 827 persons (718 persons).

CEO Mikael Nylund comments:

“In October, we continued with our busy and action-packed autumn. Net sales increased further thanks to solid demand and a growth in capacity.

From the beginning of October we have already welcomed over 45 new Goforeans, so it is a busy time for recruitment. Success in recruitment is due to our unceasing and ambitious work for the benefit of the employee experience. These efforts were rewarded in November when Gofore was selected as the winner of the Employer Brand of the Year competition at the Recruitment Gala in Finland. This is a great recognition for the work in which all Goforeans are involved.

Activity on the customer front has also remained at a solid level. I am particularly excited about the expanded co-operation with DigiFinland. DigiFinland selected us and our subcontractor Ambientia as suppliers for the development and maintenance of DigiFinland's integration platform and integrations. The platform will be utilised in the future by services: “Omaolo” (social and health care service), “Sähköinen perhekeskus” (family services), “Suuntima”, “Sähköinen arkistointi” (electronic archiving) and “Päivystysapu 116117” (emergency assistance). The number of integrations will be growing in the future within DigiFinland services, so integration development will be centralised to a separate integration platform. The agreement also includes a two-year optional period, enabling the holistic development of DigiFinland's service integrations. The agreement will commence in December and its value is approximately EUR 5.7 million over three years, including the potential optional period (1 + 1 years).

Through systematic efforts, we have sought to export our strong public sector expertise outside of Finland. As concerns this path, I would like to highlight our latest success in the tendering process for information security consultancy for Norad, the Norwegian Agency for Development Cooperation. With the new agreement, we will be participating in strengthening Norad's data protection expertise and providing technical security consulting related to vulnerability testing of the agency's open-source solutions. The value of the agreement is approximately EUR 0.6 million for a two-year agreement period (1 + 1-year option).

In addition, in October we signed an agreement with the Ministry of Foreign Affairs in Estonia for agile software development and service design advisory services. The work of our experts pertains to the Team Europe Partnerships Portal (TEPP), developed in co-operation between the Ministry of Foreign Affairs in Estonia and the European Commission, aiming to support partner countries of the European Union in identifying sustainable products and services. The duration of the agreement is less than one year and its value is approximately EUR 0.3 million”.

In its monthly business reviews, Gofore publishes the net sales and the number of personnel for the month ended, along with the comparison figures. The reviews also contain other key indicators and a comparison of the key figures between different periods, which facilitates the monitoring of the company’s growth strategy. The featured figures include the Full Time Equivalent (FTE) overall capacity and the FTE figures for subcontracting. Furthermore, in connection with the business reviews for March and September, also EBITA, adjusted EBITA and EBITA, % for the quarter ending in that month, along with the comparison figures are published. Business reviews are published as soon as possible after the figures are confirmed at the beginning of the following month. The exception is the figures for January which are included in the financial statements release, and July figures, included in the half-year report.

Figures are unaudited.

The table is updated as the year progresses.

Month (2021)

Net sales,
MEUR

Number of employees at end of period

Number of working days in Finland

Overall capacity,
FTE1

Subcontracting, FTE2

October

10.2 (8.7)

827

21 (22)

763

133

September

10.4 (8.3)

814

22 (22)

757

119

August

8.5 (5.6)

803

22 (21)

746

105

July

2.7 (2.4)

797

22 (23)

746

38

June

9.1 (6.1)

803

21 (21)

755

108

May

8.8 (6.0)

799

20 (19)

755

109

April

8.5 (6.4)

791

20 (20)

743

112

March

9.7 (6.8)

790

23 (22)

735

118

February

8.1 (5.9)

736

20 (20)

689

111

January

7.5 (6.1)

727

19 (21)

679

109

Unless otherwise stated, the comparison figures in brackets refer to the corresponding period of the previous year. CCEA Oy’s figures have been consolidated with those of the Gofore Group since 1 March 2021.

1 The overall capacity, FTE (Full Time Equivalent) figure shows the overall capacity of the Group's personnel, converted into a value corresponding to the number of full-time employees. The figure includes the entire personnel, regardless of their role. The figure is not affected by annual leave, time-off in lieu of overtime, sick leave or other short-term absences. Part-time agreements and other long-term deviations from normal working hours reduce the amount of overall capacity in comparison with the total number of employees.
2 The subcontracting, FTE (Full Time Equivalent) figure shows the overall amount of subcontracting used in invoiced work, converted into a value corresponding to the number of full-time employees.

Further enquiries:
Mikael Nylund, CEO, Gofore Plc
tel. +358 40 540 2280
mikael.nylund@gofore.com

Gofore Plc is a digital transformation consultancy with over 800 impact-driven employees across Finland, Germany, Spain, and Estonia – top experts in our industry who are our company’s heart, brain, and hands. We use our holistic service offering – consulting, coding, design and verification – as tools to incite positive change. We care for our people, our customers, and the surrounding world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2020, our net sales amounted to EUR 78 million. Gofore Plc’s share is listed on the Nasdaq Helsinki Ltd. in Finland. Get to know us better at www.gofore.com.


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