GFT Technologies SE: Solid Growth Driven by Brazil and AI Innovation

GFT Technologies SE has reported its H1 financial results, showing notable growth driven by its operations in Brazil and advancements in artificial intelligence. The company reported a stable revenue growth of 5.0% year-on-year, surpassing expectations by 2.3%. Major contributions came from the Industry & Others sector with a 14.0% increase, while the Insurance and Banking sectors grew by 7.0% and 3.0% respectively.

Despite challenges in Germany, the UK, and Canada, alongside foreign exchange headwinds in North America, the company maintained a promising EBT margin increase from 4.3% to 5.2%. Factors such as improved personnel efficiency and reduced office costs contributed to this margin improvement. As a result, Quirin Privatbank has increased GFT's target price to EUR 35 and reiterated a "Buy" recommendation.