Gofore's Half-year Report 2026: Q2 net sales +32.4%, organic growth +1.8%, adjusted EBITA more than tripled
18.8.2026 09:00:09 EEST | Gofore Oyj | Half Year financial report
Gofore Plc
Half-year Report
18 August 2026 at 9.00 am EET
Gofore’s Half-year Report 2026: Q2 net sales +32.4%, organic growth +1.8%, adjusted EBITA more than tripled
April-June 2026
- Net sales increased by 32.4% from the previous year, organic net sales growth was 1.8 %.
- Adjusted EBITA was 4.2 (1.2) million euros, 7.2% (2.6%). Adjusted EBITA improved by 4.6 percentage points compared to the comparison period, and profitability remained on the level of the beginning of the year.
- Integration synergies supported profitability development but targeted growth investments weakened it in the short term. Profitability in the comparison period was particularly weakened by the write-down of one fixed price project.
- Change in customer prices was +1.7% (-4.5%). Change in average salary was
-1.3% (+0.6%). - The number of employees rose to 1,878 (1,390) and total capacity was 1,934 (1,460).
- In June, Gofore announced the sales of its Product Design & Technical Documentation business to CoE Group. The business employs some 110 consultants, and the transaction is expected to close on 1 September 2026.
- Success in significant public sector tenders, e.g. CSC IT Center for Science Ltd, Finnish Patent and Registration Office and National Land Survey of Finland.
January-June 2026
- Net sales increased from the previous year by 30.9%, totaling 118.6 (90.6) million euros. Organic growth 1.7%.
- Adjusted EBITA was 8.6 (4.9) million euros, 7.3% (5.4%) of net sales. Adjusted EBITA increased by 1.9 percentage points compared to last year.
- Profitability was supported by integration synergies realized in the second half of the H1 period. However, targeted growth investments will impact profitability in the short term. Profitability in the comparison period was burdened by the negative impact of the write-down of one fixed-price project.
- The change in customer prices was +0.4% (-3.5%). Average salary change was -0.7% (+0.4%).
- On January 2, 2026, Gofore completed the transaction of the entire share capital of the German digital transformation expert company Esentri AG, for a debt-free price of EUR 10 million.
- Public sector wins in significant tenders from e.g. City of Espoo and Information Technology Center of the German Federal Government, ITZBund.
The half-year report is attached to this release and can be found on Gofore’s IR website at https://gofore.com/en/invest/. The report includes e.g. the most significant new agreements, an extensive key figure table, profit and loss statement and balance sheet, as well as Gofore’s market outlook and near-term risks. This is an IAS34 compliant interim report. The numbers are unaudited.
Key Figures
|
EUR million, unless otherwise specified |
Q2/2026 |
Q2/2025 |
H1/2026 |
H1/2025 |
2025 |
|
Net sales |
58.5 |
44,2 |
118,6 |
90,6 |
191,4 |
|
Organic Growth of Net Sales, % |
1.8% |
-7,9 % |
1,7 % |
-6,8 % |
-4,0 % |
|
Adjusted EBITA |
4.2 |
1,2 |
8,6 |
4,9 |
16,8 |
|
Adjusted EBITA, % |
7.2% |
2,6 % |
7,3 % |
5,4 % |
8,8 % |
|
EBITA |
3,2 |
-0,3 |
7,2 |
3,4 |
15,7 |
|
Operating Profit (EBIT) |
1,9 |
-1,1 |
4,4 |
1,7 |
11,7 |
|
Earnings per share (EPS), undiluted |
0,11 |
-0,06 |
0,15 |
0,06 |
0,59 |
|
Earnings per share (EPS), diluted |
0,11 |
-0,06 |
0,14 |
0,06 |
0,58 |
|
Number of employees at the end of period |
1 878 |
1 390 |
1 878 |
1 390 |
1 791 |
|
Overall capacity; own and subcontracted personnel |
1 934 |
1 460 |
1 934 |
1 460 |
1 851 |
CEO Mikael Nylund:
“The second quarter was an encouraging step forward for Gofore. We achieved positive organic growth for the second consecutive quarter and significantly improved our profitability compared to the previous year. Net sales grew by 32.4 percent to 58.5 million euros, driven by investments as well as organic growth (+1.8 percent). Adjusted EBITA increased significantly to 4.2 million euros, which corresponded to 7.2 percent of net sales.
Positive organic growth throughout the first half of the year is a strong signal that we have chosen the right direction. We have consistently prioritised a return to sustainable organic growth while integrating acquired companies and strengthening our position in strategically important market segments. Now that this work is yielding results, we can fully leverage the investments made over the past 12 months to deepen our foothold in our selected customer sectors.
Our work to improve profitability has also yielded results. Integration synergies, developing and renewing our competence structure, and enhanced delivery capabilities reflect our investments in sales, offering, and future expertise.
These investments have a short-term negative impact on profitability, but they are important for long-term growth opportunities and market position. However, there is still room for improvement in profitability, and we will continue to take determined actions to strengthen it.
From a market perspective, we saw encouraging developments in our strategic sectors. In the Digital Society area, customer activity remained at a good level, and recent wins, such as the National Land Survey of Finland mentioned in this report, bring stability and predictability to our business. The public sector continues to be an important market for Gofore, where our long-term customer relationships and our ability to deliver tangible results support our competitiveness.
Although the market segment is affected by constraints in public finances, the shift towards artificial intelligence and agent-based workflows presents us with a clear market opportunity for the coming years.
In the Intelligent Industry area, we see clear signs of improvement in the operating environment of our manufacturing industry customers, creating a more favorable setting for investments in digitalisation and product development. During the quarter, simulator technology sales continued strong growth.
For example, the requirements of the Cyber Resilience Act (CRA) also act as a driver behind customer needs. Thanks to the recovery of the economy and exports, we believe that the Intelligent Industry area will support our growth outlook for the coming quarters.
Defence & Space continued its strong development and remains one of the most attractive growth opportunities in our portfolio. During the review period, we continued to develop this offering and our delivery capabilities, and we expect the market to remain an important driver of growth going forward.
In June, we announced the planned divestment of the Product Design & Technical Documentation business to CoE Group. This decision is based on our desire to focus on Gofore’s strategic strengths, specifically in the areas of digitalization and digital technology. The cooperation agreement signed with CoE Group ensures that our customers will continue to have access to a full and comprehensive range of services, while Gofore concentrates its resources on its core strategic areas. The transaction is expected to be completed on 1 September 2026.
As we move into the second half of the year, the market environment as a whole appears more attractive than before. In my view, Gofore enters the second half of the year from a strong position. We have a solid integration foundation, a clear focus, and overall, we are well positioned to take advantage of the opportunities ahead. This strengthens our confidence in our ability to accelerate growth and deliver value both to our customers and to Gofore employees.”
Events after the review period
Net sales in July were 8.5 (5.8) million euros. There were an equal number of working days as in July of the previous year. Net sales developed as expected, and utilisation rate remained at a good level, taking into account the typical seasonal fluctuation during the summer holiday period.
Monthly net sales development in 2026
The numbers are unaudited.
|
Month |
Net sales, |
LTM pro forma |
No. of employees |
No. of working |
Own capacity, |
Subcontracting, |
|
January |
18.7 (15.6) |
227.9 |
1,892(1,470) |
20 (21) |
1,767 (1,387) |
180 (148) |
|
February |
19.3 (14.8) |
228.3 |
1,889 (1,470) |
20 (20) |
1,765 (1,381) |
185 (144) |
|
March |
22.1 (16.1) |
230.0 |
1,887 (1,469) |
22 (21) |
1,775 (1,379) |
181 (150) |
|
April |
19.8 (15.5) |
229.7 |
1,885 (1,470) |
20 (20) |
1,771 (1,388) |
186 (163) |
|
May |
19.1 (15.1) |
229.1 |
1,882 (1,472) |
19 (20) |
1,773 (1,381) |
178 (163) |
|
June |
19.6 (13.2) |
231.0 |
1,878 (1,390) |
21 (20) |
1,769 (1,313) |
165 (149) |
|
July |
8.5 (5.8) |
230.6 |
1,862 (1,380)
|
23 (23) |
1,759 (1,304) |
89 (72) |
Financial disclosure
Gofore’s next interim report will be the Q3 Interim Report on 27 October 2026. Gofore also publishes business reviews for the months that are not included in interim reports or the half-year report, in the beginning of the month following the month reported.
Further information:
Mikael Nylund, CEO, Gofore Plc
Tel. +358 40 540 2280
mikael.nylund@gofore.com
Contacts
- Emmi Berlin, IR & PR Lead, +358400903260, emmi.berlin@gofore.com
About Gofore Oyj
Gofore is a European consultancy, technology, and solutions company. We are pioneers in combining the tangible and digital worlds, as well as technological opportunities with changes in human behavior. Our experts help our customers look beyond today’s immediate and obvious needs. We are building a safe, functioning, and a responsible society and industry with their products and services. Gofore consists of nearly 1,900 experts in business, AI adoption, transformation, and the design and development of products and digital services, operating across 26 cities in Finland, Germany, Austria, Liechtenstein, Czechia, Estonia, and Spain. Our net sales were 191.4 million euros in 2025. Gofore Plc’s share is listed on Nasdaq Helsinki.