Extraordinary information - Gloster adds significant cloud business

Extraordinary information
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Gloster Infokommunikációs Nyilvánosan Működő Részvénytársaság (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János utca 1/A. A/2. ép.; hereinafter: Company, Gloster) hereby informs its esteemed investors of the following in accordance with the relevant legislation, in particular Act CXX of 2001 on the Capital Market (hereinafter: Tpt.) and the General Business Rules of the Budapest Stock Exchange.

Gloster grew significantly with a major cloud deal

The Systemfarmer merger has a significant value-creating effect

Systemfarmer Zrt., a subsidiary of Gloster Infocommunications Plc. business unit, has signed a three-year contract worth more than €600,000 with an international energy company that employs more than 200,000 people in over 50 countries. The agreement is for the delivery of Microsoft cloud technology solutions to support digital transformation.

The deal is significant in scale for the cloud business and is in line with the long-term strategic goals set out in the Company's Investment Presentation. Regular revenues of this kind not only increase the company's competitiveness, but also contribute significantly to dynamic growth, which is a priority for the company's management.

"It was a real team effort, the first major joint success of the two cloud companies' experts, who began working together this spring," said László Ákos Földesi, head of Gloster Cloud's business division.

History

The Gloster Cloud business unit was established when the Company acquired Microsoft Gold partner Gloster Cloud Zrt. on May 3, 2021. Two and a half years after the acquisition, on February 16, 2024, an agreement was signed with the owners of Systemfarmer Zrt., another cloud company, to merge Gloster Cloud Zrt. and Systemfarmer Zrt., creating Microsoft's largest domestically owned cloud service partner company.  The aim of the transaction was to become the market-leading service provider in Hungary from the companies to be merged on January 1, 2025, and to become a major player in the region within a few years.[2] The agreement was successfully concluded by the parties on August 15, 2024,[3] and on September 1, 2024, László Ákos Földesi, one of the founders of Systemfarmer with 18 years of professional experience, took over the management of the business unit.[4]

The Cloud business grew by 19% in 2023.[5] Management expects growth to be faster than last year.  

About Gloster

Gloster is a broad-spectrum international IT service provider listed in the standard category of the Budapest Stock Exchange. Over its more than 20-year history, it has evolved from a hardware garage company into a software-focused international medium-sized enterprise. Thanks to its intensive growth strategy, Gloster has completed eleven transactions since 2018 and expanded its activities into the areas of system integration, cloud solutions, and international software development services. The group currently employs a team of nearly 350 people. According to its audited consolidated financial statements for 2023, its revenue was HUF 10.3 billion, its adjusted EBITDA was HUF 976 million, and its after-tax profit was HUF 414 million.

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Nagytarcsa, September 18, 2024.

Gloster Infocommunications Plc.

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Further information:

Dr. Adrienn Karlovich-Szabó

Investor Relations Officer

karlovich.szabo.adrienn@gloster.hu

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[1] Microsoft acquires Gold Partner Gloster https://gloster.hu/uploads/befektetoknek/kozzetetel/rendkivuli_tajekoztatasok/11722-Tajekoztatas_KingSol_akvizico.pdf

[2] Hungary's largest domestically owned Microsoft cloud service partner company is established https://gloster.hu/befektetoknek/kozlemenyek/018db079-f531-70f2-b2d8-4d3483f74cfa

[3] Extraordinary information A major domestic Microsoft cloud service provider is born with the merger of Gloster Cloud Zrt. and Systemfarmer Zrt. https://gloster.hu/befektetoknek/kozlemenyek/01915608-cf8a-7874-ab53-480f2dd1e25f

[4] Experienced leader takes Gloster Cloud business to the next level https://gloster.hu/befektetoknek/kozlemenyek/019197e7-8c43-791e-a2f4-66684eb28b23

[5] Investor presentation on 2023 results https://gloster.hu/uploads/befektetoknek/tarsasagra-vonatkozo-alapinformaciok/befektetoi-prezentacio/2023-eves-jelentes-prezentacio-662770ccea4b2.pdf