GFT Technologies Reports Continued Growth in 2024

GFT Technologies SE has maintained its growth trajectory in the first nine months of 2024, with revenues increasing by 10% to EUR 646 million. The company's adjusted EBIT also grew by 10% to EUR 57 million. This success is largely driven by the banking sector, which saw a 14% rise. Notably, GFT’s AI product, GFT AI Impact, is rapidly being adopted, enhancing software development productivity.

The acquisition of Sophos Solutions has been pivotal, securing a significant core banking modernization deal with Bancolombia. GFT has expanded its client base in the USA and the UK, reflecting a strategic push in challenging markets.

Despite revenue in the insurance sector declining 3% annually, improvements were noted compared to earlier quarters. Looking forward, GFT anticipates a revenue of EUR 865 million and an adjusted EBIT of EUR 77 million for the full year, slightly lowering earlier forecasts due to persistent market challenges.