Gofore (GOFORE) investor relations material

Executive summary

• Q2 2025 saw net sales drop 7.9% year-over-year, with profitability weakened by one-off project write-downs and restructuring costs.

• Major restructuring included the layoff of 80 employees, expected to yield €6.1 million in annual savings, with €2.4 million in H2.

• The acquisition of Huld, a Finnish technology company, was announced for €54.5 million, doubling the intelligent industry workforce and expanding into security and product design.

• Utilization rate improved post-restructuring, and management expects H2 to mark a turning point with improved performance.

• Talent pool was renewed to better align with market demand.

Financial highlights

• Adjusted EBITA margin fell to 2.6% in Q2 2025, down from 12.7% the previous year; H1 margin was 5.4%, down from 13.2%.

• One-off items in Q2 included a €1 million project write-down, €1.2 million restructuring costs, and €0.2 million transaction costs for the Huld acquisition.

• Cash and cash equivalents stood at €49.6 million at the end of June 2025, with an equity ratio of 59.9% and net gearing at -28.5%.

• H1 net profit was €1.2 million, with a Q2 net loss of €0.7 million.

• Dividend per share was €0.48, with a payout ratio of 46.2%.

Outlook and guidance

• Full-year 2025 adjusted EBITA margin is guided at 8–10% of net sales, excluding the Huld acquisition.

• Profitability is expected to improve in H2, driven by restructuring and the Huld acquisition.

• Moderate growth is anticipated in Finland and the public sector, while DACH region recovery is expected to be slower.

• Long-term targets remain: €500 million net sales by 2030 and 15% adjusted EBITA over the cycle.