GFT Technologies SE (LTS:0O2W)
€ 21.5 -0.15 (-0.69%) Market Cap: 566.01 Mil Enterprise Value: 599.58 Mil PE Ratio: 11.96 PB Ratio: 2.21 GF Score: 87/100
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Q2 2020 GFT Technologies SE Earnings Call Transcript

Aug 13, 2020 / NTS GMT
Release Date Price: €12.22 (+0.31%)
Jochen Ruetz
GFT Technologies SE - CFO, MD, Member of Executive Board & Member of the Administrative Board

Thank you very much, ladies and gentlemen, good morning. And welcome to our Q2 or H1 call for 2020. The presentation is available on our website in the IR section. But at the same time, we are sharing it as a webcast and flipping through the slides online. So there are different ways how you can follow.

Let's move to Slide #1. In a nutshell, overall, Q2 came in a bit better than we had expected 3 months ago. The pipeline from Q1 and before was quite robust. And very important, our COVID-related move of 6,000 people to the home office did not affect our delivery capabilities. And this led in the end to revenues up by 5% or 4% organic.

We saw further dynamic growth outside our top-2 clients. To remember top-2 clients inside GFT is Deutsche Bank and Barclays, who stood for a strong reduction in revenues over the last 4 years. So outside the top-2, we grew by 19% in the first 6 months of 2020. Our earnings figures are significantly burdened by COVID-19. We will look at that a bit

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