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Gofore (GOFORE) investor relations material
Gofore Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2025 delivered the strongest profitability of the year, with net sales up 19.6% year-over-year to €59.6 million, driven by structural changes, improved utilization, and major acquisitions (Huld and Esentri), setting a solid foundation for 2026.
Full-year 2025 net sales increased by 2.8% to €191.4 million, with organic growth at -4.0% and adjusted EBITA at €16.8 million (8.8% margin), down from €23.9 million in 2024 due to H1 project delivery challenges.
Major acquisitions of Huld (September 2025) and Esentri AG (January 2026) expanded capabilities, customer base, and geographic reach, with integration ongoing into 2026.
Customer satisfaction reached record levels, with NPS improving to 68 and 97% of customers' expectations met or exceeded.
Workforce grew to 1,791 employees, up 21.8% from the previous year, mainly due to acquisitions.
Financial highlights
Q4 adjusted EBITA was €8.3 million (14.0% margin), boosted by a €1.2 million compensation from a dispute; full-year adjusted EBITA was €16.8 million (8.8% margin), with EBIT at €11.7 million (6.1% margin).
Pro forma revenue for the last 12 months at end of December was €250 million, reflecting the impact of acquisitions.
Dividend proposal of €0.49 per share, representing 83.1% of EPS and a 3.6% effective yield.
Cash flow from operations for 2025 was €22.0 million, with year-end cash at €43.2 million; equity ratio at year-end was 51.2%.
Arbitration award of €3.0 million recognized, with €1.2 million positively impacting Q4 adjusted EBITA.
Outlook and guidance
2026 outlook is cautiously optimistic, anticipating tailwinds from improved demand, benefits from recent acquisitions, and cost synergies, especially in Defence & Space and DACH.
Integration of large acquisitions may temporarily impact Q1 2026 profitability and customer hours.
Long-term targets include €500 million net sales by 2030, at least 15% adjusted EBITA margin, and minimum 40% dividend payout of annual net profit.
No specific financial guidance provided for 2026.
- Profitability up, sales steady; public sector leads, strong cash flow, recovery gradual.GOFORE
Q2 20241 Feb 2026 - AI and digitalization drive gradual industry change, with regulation offering both hurdles and opportunities.GOFORE
Investor Update20 Jan 2026 - Driving digital transformation with record growth, high customer satisfaction, and AI innovation.GOFORE
SEB Nordic Seminar presentation19 Jan 2026 - €500M net sales target by 2030, with organic growth, DACH focus, and strategic AI integration.GOFORE
CMD 202510 Jan 2026 - 2024 net sales fell 1.6% but profitability and public sector growth stayed strong.GOFORE
Q4 202424 Dec 2025 - Profitability dropped in H1 2025, but restructuring and Huld acquisition aim to drive recovery.GOFORE
Q2 202523 Nov 2025 - Q3 profitability peaked for the year, boosted by Huld, but organic growth and margins declined.GOFORE
Q3 202523 Oct 2025 - Profitability held steady despite a 4.2% sales decline, with public sector sales now at 60%.GOFORE
Q3 202413 Jun 2025 - Profitability weakened on lower sales and high free capacity; cost-saving actions underway.GOFORE
Q1 20255 Jun 2025
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