- Turnover reaches EUR 90.5 million, medium-term forecast for 2018 almost met
- Significant growth in cloud turnover
- Another significant project gained in the USA in Q1 2018
Turnover increased by 17.0 percent to a figure of EUR 90.45 million (EUR 77.33 million in the previous year). It was therefore possible to almost meet the target for this key performance indicator early; this had not been expected until 2018 in the previous medium-term forecast. In terms of the EBIT, the stabilisation process from the previous two years continued to be consolidated. EBIT therefore grew even more strongly than turnover during the past financial year and reached a figure of EUR 4.9 million. The increase was 23.6 percent compared to the previous year.
The Management Board is very happy with these results, as, viewing things generally, it was possible to exceed the results from the previous year even more significantly. For one thing, the company was able to register its first significant software-as-a-service turnover (SaaS) in 2017; this success was achieved earlier than expected as a result of the “cloud4retail” cloud strategy. Success was obtained in 2017 despite certain factors opposing this process. In addition to the transition phase towards SaaS, there were special effects primarily from the transformation of the company into an SE, the issue of a convertible bond and the acquisition of prudsys AG. As it was possible to almost meet the goals of the forecast set until 2018 through the results that have been achieved, a new medium-term forecast until 2020 will be published with the coming financial report.
This positive development also continued during the first quarter of 2018 and several important sales success stories have already been registered. Gaining a significant project in the USA is particularly important in this process, as it will create a new reference in this important market. As part of this project, GK Software will put more than 6,000 new installations into productive service. In addition, one of GK Software’s very important existing customers has signed a contract to switch to the OmniPOS system. The Management Board is expecting other existing customers as well as new ones to opt for OmniPOS during the current financial year.
Based on the preliminary results for 2017, a well-filled sales pipeline and the competitive strength of the OmniPOS cloud solution, the Management Board is confident that the Company will be able to continue to grow.
The complete financial report from GK Software will probably be published on 26 April 2018.
