Preliminary Analystenpräsentation Q4/2016adbc47a6-5654-4118-aa2c...Development of a stable, standardized software solution Assigned two nearshore core-teams Utilization of existing

GFT Technologies SE

Dr Jochen Ruetz (CFO)

September 2018

Investor Presentation

2GFT GROUP

TRACKER

Ag

en

da

1. GFT at a glance

2. GFT business model

3. Financial results H1/2018

4. Outlook

September 2018

3GFT GROUP

TRACKER

Technology partner for digital transformation

Business and technology

consultancy

Development of bespoke

IT solutions from banking

applications to trading

systems

Implementation and support

of complete platforms

Modernisation of core banking

systems

Implementation of regulatory

requirements

IT Services

Focus on financial institutions

Capital Markets

Retail Banking

Private Wealth

Insurance

Expansion of digital service

offering for industrial clients

Business Focus

Data Analytics

Blockchain

Cloud Engineering

Artificial Intelligence

Internet of Things (IoT)

Advanced technologies stand for

25% of group revenue in 2018,

up 50% vs. 2017

Technology Focus

1 GFT at a glance

September 2018

4GFT GROUP

TRACKER

Proven onshore-/ nearshore delivery model (4,697 FTE)

Canada (6)

Toronto

USA (41)

Boston

New York

Costa Rica (108)

Heredia

Mexico (218)

Mexico City

Alphaville

Curitiba

Sorocaba

Germany (365)

Bonn

Eschborn/Frankfurt

St. Georgen

Stuttgart

Italy (577)

Florence

Genoa

Milano

Montecatini Terme

Padova

Piacenza

Siena

Torino

Spain (1,975)

Alicante

Barcelona

Lleida

Madrid

Valencia

Zaragoza

Poland (579)

Lodz

Poznan

Warsaw

Switzerland (43)

Basel

Zurich

UK (141)

London

Americas

& UK

Continental

Europe

Brazil (644)

(as of 30/06/2018)

Approx. 50% of revenues generated onshore and 50% nearshore

Nearshore

Delivery Units

1 GFT at a glance

September 2018

5GFT GROUP

TRACKER

Key figures

279

374423 419

0

100

200

300

400

500

2014 2015 2016 2017 2018e

Revenue (€m)

33

45 47

3439

0

10

20

30

40

50

2014 2015 2016 2017 2018e

EBITDA (€m)

24

33 33

18

23.5

0

5

10

15

20

25

30

35

2014 2015 2016 2017 2018e

EBT (€m)

3,131

4,050

4,870 4,740

0

1000

2000

3000

4000

5000

6000

2014 2015 2016 2017 2018e

Employees (FTE)

1 GFT at a glance

September 2018

Middle of

400-420

Approx.

4,900

6GFT GROUP

TRACKER

30 biggest clients H1/2018 – five new entries

Financial results H1/2018

Insurance

& Others

Private

Wealth

Retail

Banking

Capital

Markets

September 2018

http://www.ibercaja.es/index.php?id=a213529ee2bffcb28e3bfa5e8158b3be4ba9e970e15eb7c6

http://www.intesasanpaolo.com/scriptIbve/retail20/RetailIntesaSanpaolo/ita/home/ita_home.jsp

http://www.mps.it/

7GFT GROUP

TRACKER

GFT Managing Directors and Chairman of the Administrative Board

Marika Lulay

1 GFT at a glance

September 2018

Chief Executive Officer (CEO) & Managing Director

Dr Jochen Ruetz

Chief Financial Officer (CFO) & Managing Director

Ulrich Dietz

Chairman of the Administrative Board

2002 - 2015 Board

member as Chief

Operating Officer (COO)

2015 - 2017 Managing

Director (COO)

Since 2017 Managing

Director (CEO)

Responsible for:

- strategy & markets

- corporate development

& operations

- corporate marketing

- communications

2003 - 2015 Board

member as Chief

Financial Officer (CFO)

Since 2015 Managing

Director (CFO)

Responsible for:

- finance

- human resources

- legal

- audit

- investor relations

- mergers & acquisitions

- IT-infrastructure

Founder and former

CEO

Since 2017 Chairman of

the Administrative Board

Main Shareholder of the

GFT Technologies SE

8GFT GROUP

TRACKER

0

5

10

15

20

25

30

35

0

50

100

150

200

250

300

GFT indexed TecDax indexed GFT in EUR

GFT share and shareholder structure

15

25 25

30 30 30

0

5

10

15

20

25

30

35

2012 2013 2014 2015 2016 2017

Shareholder structure

GFT share indexed and in EUR

26,4%

9,7%63,9%

Ulrich Dietz

Maria Dietz

Free float

1 GFT at a glance

September 2018

Cent

in €

Dividend per share in Cent (for financial year)

in %

01/02/2015

€13.4009/11/2018

€12.29

9GFT GROUP

TRACKER

Ag

en

da

1. GFT at a glance



4. Outlook

September 2018

10GFT GROUP

TRACKER

Business areas of GFT insidethe banks

Sun deck

Innovation

Approx 10 % of ITS budget

Engine room

Core Banking, middle & back

office projects

Approx. 50 % of IST budget

Tween deck

Risk & Compliance projects

front office

Approx. 40 % of IST budget

Das Raster muss

Johannes noch

finetunen, kann man

transparenter

gestalten.Sun deck

Engine room

Tween deck

2 GFT business model

Business areas of GFTinside the banks

40%of GFT revenue

Augmented Banking

Open Banking

Cognitive Banking

Automation Banking

50%of GFT revenue

10% of GFT revenue

Regulation

September 2018

11GFT GROUP

TRACKER

Augmented Banking Open Banking

Automation Banking Cognitive Banking

Conversational

Banking

Intelligent

Algorithms

Cognitive ProductIntelligent Process

Automation

Robotic Process

Automation

Digital Solutions

Augmented

Solutions

Modulare Banking

Open APIs

Bank as a

Platform

Channels /

Architecture

Virtual Reality

Computing Vision

IoT

Web / Mobile

Core application

renewal

Business

Process

Management

Blockchain

Cloud

Microservices


Machine Learning

NLP

ChatBot

Key offering


Regulation

September 2018

AugmentedBanking

OpenBanking

AutomationBanking

CognitiveBanking

12GFT GROUP

TRACKER

Augmented Banking Open Banking

Automation Banking Cognitive Banking

Key references


September 2018

Regulation

AugmentedBanking

OpenBanking

AutomationBanking

CognitiveBanking

13GFT GROUP

TRACKER

Implementation of a banking platform

Implementation of a global Risk and P&L production platform (dbPalace) for Deutsche Bank

New strategic platform replaces 2,000 end-user applications

Headed up by a 200-strong dbPalace team comprising both GFT and Deutsche Bank specialists, spread across eight locations worldwide


Automation Banking Advantages:

Reduced risk, man-hours and errors

Speed up release times

Fast reaction to market trends and challenges

Improved decision-making, control and compliance

Chris Bezuidenhout, CIO for Markets Finance at Deutsche Bank:

“dbPalace is an example of a programme where the needs and requirements of Finance are understood and acted upon by a passionate and committed IT team, with the users at the heart of every decision. It has been excellent working with GFT on this project. They understand my business requirements and were very focused on helping to deliver solutions we can really use.”

GFT and Deutsche Bank awarded first place for ‘Best Fintech Partnership’

September 2018

14GFT GROUP

TRACKER

Advance invoice lending with use of blockchain

Risk for the lender when a fraudulent customer tries to obtain credit for the same invoice at multiple banks

GFT was asked to develop a use case together with financial services partner; within 3 months a panel of 10 Italian banks was created

Ongoing scale up to a secure, interoperable, multi-platform Blockchain-DLT network

Clear benefits of a blockchain solution:

Transparent sharing of multiple data between a consortium of x different parties in real-time

Fraud prevention

Scalability of infrastructure

Transferable use case into other industries

Open Banking


September 2018

15GFT GROUP

TRACKER

The world’s first 100% digital process for account opening

Seja Original application is used by people who are interested in opening a new current account.

Users are able to send personal data, images and documents directly to the bank, with the convenience and flexibility of doing all of this online, using a mobile device.

Augmented Banking

GFT won the Overall and the

Customer Engagement awards

GFT also ranked #41 on the Top 100 of

2017 IDC FinTech Rankings

GFT wins Real Results award byIDC Financial Insights


September 2018

16GFT GROUP

TRACKER

AI document processing

Banks are challenged to handle huge amounts of messages and unstructured scanned documents

Machine learning and deep learning algorithms automatically classify documents in pre-defined classes, supported by human-in-the-loop assessments

This helped to greatly accelerate the processing of documents at a middle size retail bank

Process automation is integrated into the organization

Highly scalable and extensible to other use cases

Cognitive Banking


September 2018

17GFT GROUP

TRACKER

IoT projects for Trumpf

To increase capacity with agile and flexible measures as well as the improvement of usability and time to market are the ratio behind the IoT projects with our industrial client Trumpf

GFT developed a high-level-strategy for the creation of an IT-unit

Development of a stable, standardized software solution

Assigned two nearshore core-teams

Utilization of existing GFT’s software and especially data analytics competencies

Use of agile measures

„Together we want to strengthen our partnership in orderto secure long-term IT know-how at Trumpf.“

Dr.-Ing. Mathias Kammüller (Chief Digital Offier, Trumpf)

Industry 4.0


September 2018

18GFT GROUP

TRACKER

GLOBAL DELIVERY MODEL Platform Based Business

4,000 (FTE)

200 (FTE)APPLIED TECHNOLOGY UNIT

Business Consulting / Sales

FINANCIAL SERVICES UNIT INDUSTRIAL SOLUTIONS UNIT

BaaP Supply Chain / Embedded FinanceReg. Automation Cognitive Insurance

Partner & Ecosystem / Sales

BANKING

INNOVATION LAB

Platform Integration

Managed Service

Internet of Things

Blockchain Artificial Intelligence

Cloud Data Analytics

Key technologies


September 2018

19GFT GROUP

TRACKER

Ag

en

da

1. GFT at a glance



4. Outlook

September 2018

20GFT GROUP

TRACKER

Key figures

Revenue

-3%

EBITDA

+10%

EBT

+39%

Employees

-1%

EBITDA adjusted* growth vs H1/2017 of 9% to € 20.49m

EBITDA growth of 10% to € 20.12m

EBITDA H1/2017 included extraordinary items of € -1.40m for restructure in the UK and USA as well as € -0.55m Earn-out accrual for Habber Tec Brazil acquisition

EBT increase vs H1/2017 of 39% to € 12.54m

EBT-margin with 5.9% above previous year (H1/2017: 4.1%)

EBT H1/2017 included extraordinary items of € -2.00m for impairment loss

Employee reduction to 4,697 (H1/2017: 4,739)

Compared to 31 March 2018 FTE decrease of -1% (31/03/2018: 4,735)

Revenue decrease of -3% to € 211.16m vs H1/2017

Growth at constant currencies 0%

Americas & UK down -12% and Continental Europe up 6% as expected

September 2018


*EBITDA adjusted before non-operational effects from M&A activities

21GFT GROUP

TRACKER

Results at a glance


September 2018

*Adjusted for non-operational effects from M&A activities (EBITDA) plus applicable tax effects (net income, EPS)

in €m H1/2018 H1/2017 ∆%

Revenue 211.16 217.77 -3%

EBITDA adjusted* 20.49 18.89 +9%

EBITDA 20.12 18.34 +10%

EBIT 13.79 10.27 +34%

EBT 12.54 9.01 +39%

Net income 11.79 7.60 +55%

Net income adjusted* 15.32 13.41 +14%

Earnings per share adjusted (in €)* 0.58 € 0.51 € +14%

Earnings per share (in €) 0.45 € 0.29 € +55%

Permanent employees (in FTE) 4,697 4,739 -1%

22GFT GROUP

TRACKER

Results at a glance per quarter


September 2018

in €mQ1

2017

Q2

2017

Q3

2017

Q4

2017

FY

2017

Q1

2018

Q2

2018

H1

2018

Revenue 111.10 106.67 98.75 102.29 418.81 106.99 104.77 211.16

EBITDA adjusted* 10.20 8.69 11.02 5.46 35.37 10.05 10.44 20.49

EBITDA 9.92 8.42 10.76 4.25 33.35 10.05 10.07 20.12

EBIT 6.95 3.32 7.58 0.98 18.83 6.87 6.92 13.79

EBT 6.37 2.64 6.90 0.17 16.08 6.24 6.29 12.54

Net income 4.74 2.86 5.82 2.34 15.76 4.69 7.10 11.79

Net income adjusted* 6.67 6.74 7.61 5.26 26.28 6.37 8.95 15.32

Earnings per share adjusted (in €)* 0.25 0.26 0.29 0.20 1.00 0.24 0.34 0.58

Earnings per share (in €) 0.18 0.11 0.22 0.09 0.60 0.18 0.27 0.45

Permanent employees (in FTE) 4,833 4,739 4,666 4,740 4,740 4,735 4,697 4,697

*Adjusted for non-operational effects from M&A activities (EBITDA) plus applicable tax effects (net income, EPS)

23GFT GROUP

TRACKER

Revenue and EBITDA adjusted per quarter (in €m)

110.64

106.25

108.28

111.10

106.67

98.75

102.29

106.99

104.17

Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q218

Revenue

11.39

12.46 12.71

10.20

8.69

11.02

5.46

10.0510.44

Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18

EBITDA adjusted*

Revenue decreased by 2% in Q2/2018

to € 104.17m (Q2/2017: € 106.67m),

due to lower revenue with Top-2

investment banking customers

EBITDA adjusted growth 9% to € 20.49m. H1/2017 burdened by restructuring costs in Americas & UK

EBT of € 6.29m in Q2/2018 increased

by >100% (Q2/2017: € 2.64m)


September 2018

*Adjusted for non-operational effects from M&A activities (EBITDA)

24GFT GROUP

TRACKER

Revenue per segment

in €m

Revenue ∆%

H1/2018 H1/2017 Organic M&A FX Total

Americas & UK 92.60 105.77 -6.3% 0.0% -6.2% -12.5%

Continental Europe 118.26 111.55 6.4% 0.0% -0.4% 6.0%

Others 0.30 0.45 n/a n/a n/a n/a

GFT Group 211.16 217.77 0.0% 0.0% -3.0% -3.0%


September 2018

25GFT GROUP

TRACKER

Revenue per segment for Top-2 clients

in €mRevenue ∆%

H1/2018 H1/2017 Total

Americas & UKTop-2 Clients 49.01 63.10 -22%

Other Clients 43.59 42.68 2%

Continental EuropeTop-2 Clients 41.57 37.43 11%


GFT Group*

Top-2 Clients 90.58 100.52 -10%


Total 210.86 217.32 -3%


September 2018

* Excluding segment „Others“

26GFT GROUP

TRACKER

in €m

EBITDA adjusted* EBITDA

H1/2018 H1/2017 ∆% H1/2018 H1/2017 ∆%

Americas & UK 6.01 -0.50 n/a 6.01 -1.05 n/a

Continental Europe 13.78 18.05 -23.7% 13.78 18.05 -23.7%

Others 0.70 1.34 -47.5% 0.33 1.34 -75.1%

GFT Group 20.49 18.89 8.5% 20.12 18.34 9.7%

EBITDA adjusted & EBITDA per segment


September 2018

*Adjusted for non-operational effects from M&A activities (EBITDA)

27GFT GROUP

TRACKER

Revenue by countries

€ 9.46m

€ 8.84m

€ 11.89m

€ 27.52m

€ 25.42m

€ 63.49m

€ 44.94m

€ 26.21m

UK

Spain

Germany

Italy

USA

Brazil

Switzerland

-14%

6%

20%

5%

-19%

-9%

-42%

∆%

Other countries 27%

€ 54.46m

€ 47.59m

€ 31.52m

€ 29.02m

€ 20.58m

€ 10.80m

€ 5.15m

€ 12.04m

H1/2018 H1/2017

29%

21%12%

13%

12%

5%

4%4%

H1/2017: € 217.77m

26%

22%

15%

14%

10%

5%2%

6%

H1/2018: € 211.16m


September 2018

28GFT GROUP

TRACKER

Detailed profit & loss statement

in €m H1/2018 H1/2017 ∆%

Revenues 211.16 217.77 -3%

Other operating income 1.73 1.07 +62%

Cost of purchased services -28.39 -27.12 +5%

Personnel expenses -135.33 -141.55 -4%

Other operating expenses* -29.05 -31.83 -9%

EBITDA 20.12 18.34 +10%

Depreciation and amortisation -6.33 -8.07 -22%

EBIT 13.79 10.27 +34%

Interest and similar income/expenses -1.25 -1.26 -1%

EBT 12.54 9.01 +39%

Income taxes -0.75 -1.41 -47%

Net income 11.79 7.60 +55%

Earnings per share (in €) 0.45 0.29 +55%

* Other operating expenses including results of investments accounted for using the equity method


September 2018

29GFT GROUP

TRACKER

Balance sheet (in €m)

139.88 135.43

63.56 72.24

161.45 165.14

364.89372.81

126.64 137.89

120.58119.60

117.67115.32

364.89372.81

30/06/2018 31/12/2017 30/06/2018 31/12/2017

Assets Liabilities

Cash

& cash equivalents

Other

Current

Assets

Non-Current

Assets

Non-Current

Liabilities

Equity

Current

Liabilities


September 2018

30GFT GROUP

TRACKER

-111.54

72.25

7.82

-13.04-3.25 -0.22

63.56

-42.83-39.29

-106.39

Cash flow analysis (in €m)

31/12/2017 30/06/2018H1/2018

Cash FX

effects

Operating

Cash Flow

Financing

Activities

Investments Cash Financial

liabilities

Net cashNet cash Financial

Liabilities

GFT’s biggest clients overpay in

December in order to utilise internal

budgets. Overpaid amount indicated

by light blue colour

31/12/2016 = € 4.55m

31/12/2017 = € 4.47m

Operating cash flow in H1/2018 reflects

profitability and overall healthy working

capital position. Operating cash flow is

marked by settlement payment of

€ 11.00m mutually agreed with Avaloq in

legal dispute

Cash flow from financing activities

characterised by dividend payments to

shareholders (€ 7.90m) and loan

repayments (€ 5.14m)


September 2018

31GFT GROUP

TRACKER

1,859 1,977 2,023 2,023 2,032 2,048 2,104 2,064 1,975

676757 797 727 688 675 686 678

644

532

590594 576 532 500 503 530

579

551

550554

568 571 561 561 567 577

289

287310 323 325 343 355 356 365116

116116 143 147 137

161 186 218237

237235 227 201 182

158 146 141233

235241 246

243 220 212 208 1984,493

4,7494,870 4,833

4,739 4,666 4,740 4,735 4,697

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Q3/2017 Q4/2017 Q1/2018 Q2/2018

Others

UK

Mexico

Germany

Italy

Poland

Brazil

Spain


Employees by country (FTE)

September 2018

32GFT GROUP

TRACKER

Ag

en

da

1. GFT at a glance



4. Outlook

September 2018

33GFT GROUP

TRACKER

Banking and Securities IT Spending

Source: Gartner, Forecast Enterprise IT Spending for Banking and Securities Market, Worldwide, 4Q17 Update, Jan 2018 (Billions of U.S. Dollars)

95.1 96.2 97.0 99.0 101.3 103.8

199.3 208.0 217.8 228.4 240.0 252.2

77.482.4

88.395.4

103.4112.2

32.333.9

35.636.3

36.636.7

107.0107.3

107.9108.4

109.3109.7

31.332.9

32.832.8

32.832.7

2016 2017 2018 2019 2020 2021

Data Center Systems

Telecom Services

Devices

Software

IT Services

Internal Services

September 2018

4 Outlook

542.4 560.7579.5

600.3623.4

647.3

CAGR

2016-2021

0.9%

0.5%

2.6%

7.7%

4.8%

1.8%

3.6% Total

34GFT GROUP

TRACKER

New technologies and methodologies enable new client acquisition and ensure growth

LEADING EDGE

Blockchain

Cloud

Data Analytics


DevOps

Internet-of-Things

ESTABLISHED

INDUSTRY DRIVEN

REVENUE GROWTH 2017/18MARKET CAGR

430%

31%

230%

50%*

62%**

21%*

12%*

18%***

22%**

Sources: *IDC 2017; **Markets and Markets 2017; *** KBV Research 2017

(2016-2021)

(2016-2021)

(2016-2021)

(2017-2023)

(2016-2020)

(2017-2022)

September 2018

4 Outlook

35GFT GROUP

TRACKER

17.4 16.1

23.5

2016 2017 2018

Guidance 2018 (in €m)

423 419400 -420

2016 2017 2018

-1%

0%

Revenue EBITDA adjusted EBT

31.6 33.439.0

2016 2017 2018

+6%

-7%

Revenue

2022

EB

ITD

A m

arg

in 1

2%

800

+17%

+46%

4 Outlook

-5%

Revenue in the middle range of € 400 to 420m for 2018, in addition V-NEO contributes approx. € 7.0m

EBITDA adjusted without effects from non-operational M&A activities at € 40.0m

Significant earnings growth for EBITDA to ca. € 39m and for EBT to € 23.5m

Volatile revenue expectations for major investment banking client in H2/2018 will continue

New solution offering ‘Exponential Banking’ and renewal of core banking systems will drive growth in Continental Europe

Strict focus on new technologies and IoT solution offering will support long-term growth

46.8

35.440.0

2016 2017 2018

+13%

EBITDA

-24%

September 2018

36GFT GROUP

TRACKER

September 2018

Revenue bandwidth for Top-2 clients in 2018*

* Table ignores business segment „Others“ (approx. € 1m revenue)

Revenue ∆%

2018 2017 2018 / 2017

Americas & UK Top-2 Clients 70-90 114 -39% / -21%

Other Clients 100 81 +23%

Continental Europe Top-2 Clients 70 77 -9%


GFT Group Top-2 Clients 140-160 191 -27% / -16%


Total 400-420 419 -5% / 0%

in €m

4 Outlook

37GFT GROUP

TRACKER

2018: split into operating profit and M&A effects

September 2018

4 Outlook

Guidance 2018

in €mGFT stand

aloneV-NEO GFT Total

EBITDA adjusted 39.00 1.00 40.00

M&A Earn-out & Retention -0.37 -0.37

M&A Consult & Integrate -0.55 -0.55

M&A PPA orderbook -0.32 -0.32

EBITDA 39.00 -0.23 38.77

Depreciation -7.20 -0.07 -7.27

M&A PPA Amortization -5.00 -0.58 -5.58

M&A PPA Impairment 0.00

EBIT 26.80 -0.88 25.92

Interest -1.80 -0.08 -1.88

M&A Interest -0.56 -0.56

EBT 24.44 -0.96 23.48

Taxes -3.56 -0.03 -3.60

Net income 20.88 -0.99 19.88

Net income adjusted 26.44 0.75 27.19

Shares outstanding (m.) 26.33 26.33 26.33

EPS (€) 0.79 -0.04 0.76

EPS adjusted (€) 1.00 0.03 1.03

38GFT GROUP

TRACKER

September 2018

The way forward

Unprecedented growth opportunities across the Americas and the UK segment

New technologies as a door opener for new clients

Established nearshore delivery model enables a faster scale-up

Attractive growth opportunities with industrial clients

Continued focus on M&A (North America for banking, Germany for the industrial sector)

4 Outlook

39GFT GROUP

TRACKER

Peer group (limited comparability – not focused on financial sector)

Unternehmen FXShare price Market cap EV/sales EV/EBITDA PE

Local curr. Local curr. 2018e 2019e 2018e 2019e 2018e 2019e

1) European-based IT services / financial sector consulting

Capgemini SE (€m) 108.25 18,274.4 1.6 x 1.5 x 10.9 x 10.1 x 18.0 x 16.2 x

Devoteam SA (€m) 116.00 967.1 1.5 x 1.3 x 13.1 x 11.2 x 26.2 x 22.4 x

First Derivatives PLC (£m) 3,960.00p 1,028.9p 6.2 x 5.2 x 34.2 x 29.0 x 58.8 x 49.8 x

Indra Sistemas SA (€m) 9.74 1,720.6 0.8 x 0.8 x 8.0 x 7.3 x 14.2 x 12.0 x

Reply SpA (€m) 57.05 2,134.3 2.0 x 1.8 x 14.5 x 12.8 x 23.3 x 20.4 x

2) Global IT services / financial sector consulting

Accenture PLC ($m) 170.35 109,151.4 2.7 x 2.5 x 15.9 x 14.8 x 25.4 x 23.5 x

Cognizant Technology Solutions Corp ($m) 75.70 43,923.7 2.5 x 2.3 x 10.9 x 9.7 x 16.9 x 15.0 x

EPAM Systems Inc ($m) 139.71 7,513.9 3.8 x 3.1 x 20.8 x 16.7 x 33.8 x 27.2 x

Luxoft Holding Inc ($m) 46.90 1,051.7 1.6 x 1.5 x 10.6 x 11.5 x 16.8 x 19.6 x

3) Indian-based IT services / financial sector consulting

HCL Technologies Ltd (INR) 1,086.80 1,513,392.9 2.8 x 2.4 x 12.4 x 10.5 x 17.3 x 15.4 x

Infosys Ltd (INR) 742.90 3,245,271.7 4.3 x 3.8 x 15.9 x 14.2 x 21.9 x 20.1 x

Tata Consultancy Services Ltd (INR) 2,043.95 7,825,415.9 6.1 x 5.2 x 23.0 x 19.1 x 30.6 x 25.3 x

Wipro Ltd (INR) 328.75 1,487,280.5 2.4 x 2.2 x 11.7 x 11.7 x 18.4 x 17.6 x

Medians all 2.5 2.3 13.1 11.7 21.9 20.1

GFT Technologies SE (€m) 12.77 336.2 1.0 0.9 10.6 9.1 16.4 13.4

Figures as of 09/14/2018

Appendix

September 2018

40GFT GROUP

TRACKER

Shaping the future

of digital business

GFT Technologies SE

Dr Jochen RuetzCFO

Schelmenwasenstraße 3470567 Stuttgart

T +49 711 62042-422

[email protected]

GFT Technologies SE

Andrea WlcekGlobal Head of Communications


T +49 711 62042-440

[email protected]

September 2018

GFT Technologies SE

Karl KompeInvestor Relations Manager


T +49 711 62042-323

[email protected]

Documents

Preliminary Analystenpräsentation Q4/2016adbc47a6-5654-4118-aa2c...Development of a stable, standardized software solution Assigned two nearshore core-teams Utilization of existing