Gofore (GOFORE) Q1 2026 earnings summary

Executive summary

• Net sales grew by 29.4% year-over-year to €60.1 million, with organic growth turning positive at 1.7%.

• Adjusted EBITA rose 18% to €4.4 million, but margin declined to 7.3% due to integration costs and growth investments.

• Major acquisitions (Esentri AG and Huld) expanded capacity and market reach, especially in Germany and the defense sector.

• Employee count increased to 1,887, driven by acquisitions and strong recruitment.

Financial highlights

• Net sales: €60.1M (+29.4% YoY); organic growth: 1.7%.

• Adjusted EBITA: €4.4M (7.3% margin); EBIT: €2.5M (4.2% margin).

• EPS (undiluted): €0.04 (down from €0.11 YoY).

• Equity ratio: 50.9%; net gearing: 14.2%.

• Cash flow from operations: €-1.1M; cash at period end: €35.4M.

Outlook and guidance

• No specific financial guidance provided for 2026.

• Market outlook cautiously optimistic; private sector demand expected to recover, but geopolitical risks persist.

• Integration synergies from acquisitions expected to improve profitability in H2.