Gofore Plc
Interim Report Q1 and Q3
27 October 2026 at 8.30 am EEST
Gofore’s Interim Report Q3 2026: Q3 net sales growth 19.7%, profitability improved significantly from H1
July-September 2026
- Net sales increased by 19.7% from the previous year, organic net sales growth was 1.5%.
- Adjusted EBITA was 4.4 (3.6) million euros, 8.9% (8.7%).
- Profitability improved compared to both previous quarters and the comparison period, driven by synergy benefits in administrative costs
and improved management of fixed-price projects. - Change in customer prices was +1.7% (-1.8%).
- Change in average salary was -2.2% (-0.3%).
- Number of employees down to 1,769 (1,786) due to the sale of Product Design and Technical Documentation. Total capacity was 1,844 (1,855).
- In June, Gofore announced the sales of its Product Design & Technical Documentation business to CoE Group and the transaction was completed on September 1, 2026. The net personnel impact of this sale was 107.
- During the quarter, Gofore signed new customer relationships and extension agreements with national railway company VR Group, the Finnish Transport Infrastructure Agency, and the Tampere higher education community TUNI, strengthening its position as a development partner for transport, infrastructure, and AI solutions.
January-September 2026
- Net sales increased from the previous year by 27.4%, totaling 167.9 (131.8) million euros. Organic growth was 1.6%.
- Adjusted EBITA was 13.0 (8.5) million euros, 7.7% (6.4%) of net sales. Adjusted EBITA increased by 1.3 percentage points compared to last year.
- The change in customer prices was +1.1% (-3.0%).
- Average salary change was -1.1% (+0.1%).
- On 2 January, 2026, Gofore completed the transaction of the entire share capital of the German digital transformation expert company Esentri AG. The debt-free purchase price was EUR 10 million, and the already confirmed additional purchase price was EUR 1.5 million.
Events after the review period
On 22 October 2026, Gofore was chosen as KEHA Centre’s partner in two extensive frame agreements. There were two separate releases related to the two separate procurement decisions received.
The Interim Report is attached to this release and can be found on Gofore’s IR website at . 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 |
Q3/2026 |
Q3/2025 |
2025 |
|
Net sales |
49.3 |
41.2 |
191.4 |
|
Organic Growth of Net Sales, % |
1.5% |
-3.3% |
-4.0% |
|
Adjusted EBITA |
4.4 |
3.6 |
16.8 |
|
Adjusted EBITA, % |
8.9% |
8.7% |
8.8% |
|
EBITA |
6.0 |
2.7 |
15.7 |
|
Operating Profit (EBIT) |
4.8 |
1.8 |
11.7 |
|
Earnings per share (EPS), undiluted |
0.24 |
0.10 |
0.59 |
|
Earnings per share (EPS), diluted |
0.24 |
0.10 |
0.58 |
|
Number of employees at the end of period |
1,769 |
1,786 |
1,791 |
|
Overall capacity; own and subcontracted personnel (FTE), |
1,844 |
1,855 |
1,851 |
CEO Mikael Nylund:
“In the third quarter, Gofore’s net sales increased by 19.7 percent to 49.3 million euros. Adjusted EBITA grew to 4.4 million euros, which is 8.9 percent of net sales. In the comparison period, net sales were 41.2 million euros and adjusted EBITA 3.6 million euros, or 8.7 percent of net sales.
Organic growth was 1.5 percent. Its continued positive development throughout the year is an important sign for us that the trend is turning. In Finland, our growth is already slightly faster than this, while the turnaround in the DACH business is still yet to materialise.
Profitability also developed in the right direction as expected. Integration synergies, other efficiency measures and the improved utilisation rate towards the end of the period have all supported this positive trend. The development is headed the right way, and we know we still have potential to do even better.
The number of employees decreased following the sale of the Product Design and Technical Documentation business completed in the autumn and was 1,769 at the end of the quarter. Attrition was expectedly higher than usual, driven by new competence requirements and efficiency measures. Our employer brand remains strong, as shown by the results of the Universum survey of Finnish IT professionals published on 1 October: Gofore ranks as the second most desirable employer among IT consulting companies in Finland.
In our strategic sectors, the Intelligent Industry business developed better towards the summer than in the early part of the year, and this positive trend continued after the summer holidays. Customer confidence appears to have recovered, which is reflected in investments.
The Intelligent Industry 26 event we organised in September brought our customers together to explore the solutions we have developed for the sector. At the event, we presented, among other things, our Simulator Workspace solution discussed in this review. It enables our customers to move into a virtual product development environment, accelerating development and improving its quality.
The Defence and Space business continued the strong growth seen in the first half of the year. Market demand is good, and through effective strategy execution, we have succeeded in establishing ourselves as a well-known player in the sector. For example, resilience and crisis preparedness, as well as the use of space data, are trends in which Gofore’s expertise is particularly relevant.
In the Digital Society business’ market, competition remains intense, but investments related to artificial intelligence are creating new opportunities. Customers are now looking for ways to move from individual AI experiments toward broader use that renews practical operations.
We are already seeing concrete examples of AI-driven software development that enhances the delivery of customised systems, as well as investments in AI platforms and dedicated AI expertise. The growing importance of AI development in the public sector is reflected, among other things, in the recent publication by the Finnish Ministry of Finance, “Agentic Finland”, which examines future AI-based public administration and the means to achieve it.
Following the Esentri acquisition, our DACH business is now on a stronger footing than before, both in terms of expertise and customer portfolio. The turning point in organic growth has, however, not yet been reached. We believe that market-driven demand and new customer relationships will, in time, offset the decline in certain existing customer accounts.
Artificial intelligence, a theme that connects all industries, is rapidly transforming the market for digital services. For Gofore, this change is above all an opportunity to grow. Our customers’ need to renew their business, services and ways of working with the help of technology is not disappearing, but changing form. We want to be at the forefront of this transformation.
Gofore grows with the AI transformation, not despite of it.”
Monthly net sales development in 2026
The numbers are unaudited.
|
Month |
Net sales, |
LTM pro forma |
No. of employees |
No. of working |
Own capacity |
Sub- |
|
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 (15.5) |
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) |
|
August |
19.3 (14.7) |
231.4 |
1,879 (1,373) |
21 (21) |
1,766 (1,298) |
151 (149) |
|
September |
21.5 (20.7) |
228.7 |
1,769 (1,786) |
22 (22) |
1,671 (1,665) |
173 (190) |
Financial disclosure
Gofore 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. The 2027 calendar for financial communications will be disclosed at the end of 2026.
Further information:
Mikael Nylund, CEO, Gofore Plc
Tel. +358 40 540 2280
Contacts
- Emmi Berlin, IR & PR Lead, +358400903260,
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 some 1,800 experts in business, AI adoption, transformation, and the design and development of products and digital services, operating across 24 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.