GFT Technologies SE Reports Solid Q1 Performance and Raises Target Price

GFT Technologies SE has released its Q1 2026 financial results, showing a 3.4% year-over-year increase in revenues to EUR 229.5 million. This growth exceeded expectations by 2%, driven by strong performances in Brazil, Colombia, and Spain, with continued demand for AI, cloud, and SAP modernization projects. However, markets in Germany, the UK, Mexico, and Canada experienced weaker performance due to cautious customer spending and project delays.

The company's EBT margin improved from 4.5% to 5.2%, bolstered by higher utilization, disciplined cost management, and fewer capacity adjustments in the UK. The order backlog saw an 11% increase to EUR 512.1 million, affirming the visibility of guidance for FY 2026. Consequently, the target price for GFT Technologies SE shares has been raised to EUR 34, maintaining a Buy recommendation.