GFT Technologies SE Reports Solid Growth in 2023 with Expansion in AI and Latin America

GFT Technologies SE (GFT) experienced a year of solid growth in 2023, with a 10% increase in revenue compared to the previous year. The company, focusing on driving innovation in artificial intelligence (AI) and expanding its footprint in Latin America, reported stable gains across various sectors. Notably, the banking and industrial sectors witnessed revenue growth of 13% and 12%, respectively. Adjusted earnings before interest and taxes (EBIT) saw a 9% rise, reaching approximately EUR 73 million.

The launch of the GFT AI.DA Marketplace significantly boosted demand for AI solutions. Additionally, GFT successfully completed the acquisition of Sophos Solutions, further expanding its presence in Latin America. For 2024, GFT anticipates continued growth, projecting a revenue of approximately EUR 920 million and an adjusted EBIT of around EUR 85 million.

Revenue in Europe saw a substantial increase of 23%, attributed partly to the acquisition of targens GmbH. Despite initial challenges, GFT's largest market, Brazil, witnessed a successful turnaround, contributing positively to the overall growth. The company's emphasis on digital transformation and AI technologies has positioned it as a leader in the field, as evidenced by numerous analyst reports.

Operating cash flow declined slightly due to specific factors, but the company maintained financial stability and flexibility, highlighted by the strategic acquisition of targens GmbH. GFT continues to invest in sustainability, improving its ratings in several internationally recognized ESG assessments.

Looking ahead to 2024, GFT is poised for significant revenue growth and earnings increase, driven by the ongoing digital transformation demands and the integration of Sophos Solutions. The company remains committed to leveraging next-generation technologies to boost productivity and enable innovative business solutions.