contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment CompanyTagList on Company {
  pageUrl
  name
  viewerIsFollowing
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    ...CompanyTagList
    id
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls {
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      defaultInstrument {
        isin
        id
      }
      id
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    id
    name
    viewerIsFollowing
    defaultInstrument {
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

companies

createdAt

publishers

authors

reactionGroups

pageUrl

alternatePageUrls

imgUrl

description

Analytiker

Joni Grönqvist

Frans-Mikael Rostedt

Gofore är verksamt inom IT-sektorn. Idag innehas specialisering mot att erbjuda digitala lösningar och rådgivning inom lead och processdesign, samt molnbaserade lösningar. Störst kunskap återfinns inom uppbyggandet och utvecklingen av mjukvarusystem samt tillhörande projektledning. Bolagets kunder återfinns bland företagskunder samt institutioner. Störst verksamhet återfinns runtom den europeiska marknaden.

Jag anser att Gofore är ett av de mest högkvalitativa företagen inom IT-sektorn, och dess förmåga att försvara lönsamheten i en utmanande marknadsmiljö under det senaste året har varit imponerande. Jag tror att företagets omsättning och resultat kommer att återgå till tillväxt nästa år, vilket stärker min uppfattning om dess långsiktiga potential. Jag ser Gofore som ett företag med utmärkta tillväxtmöjligheter och förmåga att skapa värde. Dess historiska prestationer är exceptionellt starka, och med aktiekursen som legat nästan stilla känns värderingen attraktiv i förhållande till företagets kvalitet (2024e EV/EBIT 12,5x). Jag ser Gofore som en tydlig ledare inom IT-branschen, vilket gör det till ett mycket intressant företag att investera i på lång sikt. Aktien har sjunkit lite igen. Jag funderar bara på om jag borde köpa mer… men kanske inte, eftersom jag redan har så mycket av det i portföljen, och det finns trots allt vissa sektorspecifika risker och så vidare.

Enligt VD Mikael Nylund var Gofore’s omsättning i oktober 18,8 miljoner euro, och antalet anställda ökade i Finland medan det minskade utomlands, delvis på grund av omstruktureringar i DACH-regionen. Viktiga avtal slöts med Helsingfors stad, Istekki och Fintraffic. Ramavtalet med Helsingfors stad sträcker sig över fyra år och omfattar ett brett utbud av utvecklingstjänster, med ett värde på cirka 55 miljoner euro. Med Istekki ingicks ett avtal om expert- och konsulttjänster till ett värde av 10,9 miljoner euro, och med Fintraffic slöts ett avtal om två års ICT-arkitekturtjänster.                   Inderes              Inside information: Gofore Plc’s Business Review October 2024: October...    11.11.2024 10:45:11 EET | Gofore Oyj | Inside informationGofore Plc Inside Information 11 November 2024 at 10.45 a.m EET Inside information: Gofore Plc’s Business Review October 2024: October...

Gofore’s omsättning sjönk som förväntat organiskt under det tredje kvartalet, men lönsamheten var något lägre än prognoserna. Förbättrade rekryteringar, positiva marknadssignaler och bättre lönsamhetsdrivande faktorer ökade dock förtroendet för företagets framtida resultatökning. Gofore’s omsättning var 39,1 miljoner euro, vilket innebär en minskning med 4 % från föregående år, främst på grund av hård prispress. Justerad EBITA sjönk med 8 % till 4,4 miljoner euro och var något lägre än prognosen, även om en EBITA-marginal på 11,2 % fortfarande var stark jämfört med sektorns genomsnitt. Positivt var att Gofore lyckades balansera effekterna av kundprisernas utveckling och löneinflationen. Marknadssituationen förblir utmanande, men det finns små tecken på återhämtning. Inderes prognoser för åren 2024–2026 förblev nästan oförändrade, och Inderes förväntar sig att företaget fortsätter att växa mer lönsamt än sektorn i genomsnitt. Gofore’s värdering är attraktiv, särskilt med det förbättrade resultatförväntningarna i åtanke. Inderes höjde aktiens rekommendation till “öka” och behöll riktkursen på 24,0 euro.

Medarbetarnöjdhet är verkligen viktigt inom expertbranschen, och Gofore har lyckats utveckla det på ett utmärkt sätt.  Gofore has long been an example of how concrete actions can gain the approval of both employees and talents in the market. A good example of this is the results from Universum’s fall 2024 Professional Survey, where we were ranked as the most desirable employer among IT consulting firms in Finland and placed seventh overall in the IT Professionals category.                   Gofore – 27 Sep 24              Actions Speak Louder – What Makes a Desirable Employer? - Gofore    Gofore has long been an example of how concrete actions can gain the approval of both employees and talents in the market.         Estimated reading time: 3 minutes

Grattis Timur och Gofore!  Gofore’s Chair of the Board Timur Kärki awarded Business leader of the Year 2024 Gofore’s Chair of the Board and co-founder, M.Sc. (Tech) Timur Kärki has today been awarded Business Leader of the year in an annual seminar of the Finnish business association (Suomen Liikemies-Yhdistys). The jury that chose Timur Kärki as business leader of the year highlighted not only Gofore’s impressive business performance, but also the fact that Kärki has dared to shake up traditional leadership practices and to bring the spirit of modern, more open kind of corporate culture into his own industry as well as around it. The jury said Kärki also boldly discusses the pain points of the IT industry. ”Many thanks to the award jury and the association for showing me this tribute. Looking at the previous awardees, I quickly understood that at least the earlier awards have not been granted lightly. I accept this award with joy and great satisfaction”, Kärki comments. Founded in 2002, Gofore has grown into a versatile international digital transformation expert company that is both growing and profitable. The company who employes over 1,400 experts in Finland and elsewhere in Europe has for long built a new kind of good working life for its employees. Gofore’s culture and values emphasise close collaboration between the company and its employees, low hierarchy and an inclusive discussion culture. The fact that Gofore’s Board of Directors invited an employee to the board for the first time in 2015 can be considered as an example of the transparent culture. ”Gofore is born out of an idea of a company that produces value around it in a sustainable way. I’m proud of both Gofore and all Goforeans who transform the Finnish society and business life into a better one together with our customers on a daily basis”, Kärki continues. Business leader of the year Kärki is one of Gofore’s four founders and is currently Chair of the Board at Gofore, as well as board member in the Finnish Central Chamber of Commerce, Ilves-Hockey, Modulight, Navakka and Moovy. Kärki was as Gofore’s CEO in 2010-2019.                   Inderes              Gofore's Chair of the Board Timur Kärki awarded Business leader of the Year...    Gofore’s Chair of the Board and co-founder, M.Sc. (Tech) Timur Kärki has today been awarded Business Leader of the year in an annual seminar of the Finnish business association (Suomen Liikemies...

En bra översikt över de finska IT-tjänstebolagen finns via länken. Gofore’s revenue was already known for Q2 and amounted to 48.0 MEUR, up 1% year-on-year. Organically, revenue decreased by 3%. Intense price competition limited growth opportunities as the company has not been willing to sacrifice too much on profitability. This is positive for the long term, as otherwise the quality of the order book would continue to deteriorate and it would take longer to return to growth when the market situation improves. Gofore’s adjusted EBITA increased by 13% to 6.1 MEUR but missed our forecast. This corresponds to a satisfactory/good EBITA margin of 12.7% for the company under the circumstances, but at the very top end of the sector. We forecast organic revenue development of -1% and and a slight decline in EBITA-% to 13.8% in 2024. Profitability is weighed down by the negative equation of customer prices and wage inflation. Q2 company update on Gofore is available here (in Finnish).                   Inderes              Q2 IT service sector summary: Slightly steeper revenue decline, improved...    Finnish listed IT services companies' organic revenue decline accelerated slightly, although the comparison period was already weak for several of them.

This is not necessarily a huge deal in itself, but I believe it may indicate how well this company is doing!  Gofore partners with Kela on single application model Gofore has been chosen as Kela’s partner on the so-called single application model project. The single application model is government-programme-aligned renewal and development of Finnish social security that smoothens benefit application and is a step towards the ultimate goal of a universal benefit model. One of the currently most significant projects in the Finnish digital society space, making Kela’s application processes smoother, will soon move forward in collaboration between Kela and Gofore. The single application model is written in Prime Minister Petteri Orpo’s government’s programme. In practice, the model means that in the future, a customer can apply for several benefits with one application. ”The meaning of Goforeans’ work shines through the most in projects like this with great societal impact. The single application model is an important step towards a real reform of the Finnish social security system by harnessing the possibilities of digital technology. It’s on par with groundbreaking Finnish digitalisation reforms like the Suomi.fi national identification system or the OmaVero tax portal”, says Gofore’s CEO Mikael Nylund. The single application model development is part of Kela’s strategic development programme called Eepos, and part of the larger social security reformation aligned by Orpo’s government. It entails e.g. a reform of basic social security, targeting to improve profitability of work, make social security more accessible and simplify benefits. The reform is meant to create a universal benefit that includes a basic support for living, a housing support and a discretionary part for last-resort assistance. Transition to the universal benefit model will take place gradually by combining benefits and taking into account the national economy’s current state. Combining the benefits will now kick off with the single application model creation by the government’s mid-term budget framework negotiations. On 28 August 2024, Kela announced it has chosen Gofore as its partner. The way of procurement has been a negotiation tendering procedure. Kela’s estimate value for the procurement is 10-15 million euros for the entire agreement period, and Gofore’s reference price according to the request for quotation has been 5.5 million euros. The project is estimated to last for three years. Gofore’s resource subcontractor and technology platform supplier in the project is Magnolia. ”This was an especially great win for us and goes to show that Gofore is a desirable partner for big, challenging aggregate development where the supplier carries significant responsibility of the success of the project. We successfully convinced the customer of our versatile expertise and comprehensive offering in the negotiating phase of the procurement”, Nylund says. Kela’s programme director Miikka Saarteinen says in Kela’s press release that the single application service is intended to first have in use for unemployment benefit customers by the summer of 2025. In the first phase, the service will also entail an estimation of housing benefit needs. It is intended for the service to expand to also gradually concern other benefits.                   Inderes              Gofore partners with Kela on single application model - Inderes    Gofore has been chosen as Kela’s partner on the so-called single application model project. The single application model is government-programme-aligned renewal and development of Finnish social...

Gofore

Goforen liikevaihto kasvoi vahvasti orgaanisesti Q3:lla ja kannattavuus ylitti hieman odotuksemme. Heikko talousnäkymä yksityisellä ja tiukka kilpailutilanne julkisella sektorilla jarruttavat...

<p>Goforen liikevaihto kasvoi vahvasti orgaanisesti Q3:lla ja kannattavuus ylitti hieman odotuksemme. Heikko talousnäkymä yksityisellä ja tiukka kilpailutilanne julkisella sektorilla jarruttavat yhtiön menoa lyhyellä aikavälillä, mutta arvioimme yhtiön pärjäävän sektoria keskimäärin paremmin ja jatkavan kannattavaa kasvua myös vaikeammassa syklissä. Arvostuskuva (2023 EV/EBIT oik. 12x) yhdistettynä vahvaan orgaanisen kasvun ajamaan arvonluontinäkymään puoltaa mielestämme vahvaa positiivista näkemystä osakkeesta. </p> 

	2022	23e	24e
Omsättning	149,9	190,5	210,0
tillväxt-%	43,45 %	27,08 %	10,21 %
EBIT (adj.)	22,0	25,3	27,3
EBIT-%	14,67 %	13,29 %	13,01 %
EPS (adj.)	1,13	1,29	1,39
Utdelning	0,34	0,50	0,58
Direktavkastning	1,53 %	2,34 %	2,71 %
P/E (just.)	19,59	16,60	15,41
EV/EBITDA	14,10	11,26	9,93

Strategia puree

Gofore

Key Estimate Figures2023-10-19

Gofore

Key Estimate Figures2023-10-19

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