Gloster's open order book grows steadily in Q4 2024

Gloster Infocommunications Plc. closed the fourth quarter Gloster Infocommunications Plc. with an open order backlog of HUF 4,739 million, representing a 15% increase compared to the same period last year. This represents a significant average growth rate (CAGR) of 92% in Order backlog since 2021.

Following the sale of its Systems Integration business , Gloster's open order book consists solely of cloud-based services and software development projects, which provide the company with steady revenue and higher margins. Management is focused on participating in high-value, long-term international technology projects that further strengthen the company's growth prospects. The order backlog no longer includes orders from the Systems Integration business unit, which was sold on December 12, 2024.

All products and services for which all subsidiaries of the Gloster Group have a valid order but have not yet been delivered to customers are included in the open order backlog. Gloster's open order backlog for the quarter was as follows:

all data in millions of HUF, unaudited, unconsolidated data

Source: Gloster Finance Department

* Data for Q4 2024 does not include the open order backlog of the System Integration business unit sold on December 12, 2024.

The Company's order backlog increased by 15% from HUF 4,134 million in Q4 2023 to HUF 4,739 million in Q4 2024. Despite the sale of the System Integration business unit, this growth shows that our remaining activities continue to grow strongly and reinforce our company's fundamental market position.

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All figures in millions of Hungarian forints, unaudited, non-consolidated data

Source: Gloster Finance Department

* Data for Q4 2024 does not include open orders in the System Integration business line.

Our cloud business showed significant growth in the fourth quarter of 2024, which is also supported by continuous euro revenues. The European public cloud market reached USD 150-160 billion, and Microsoft Azure's market share ranged between 22-24%. The merger of Gloster Cloud Zrt. and Systemfarmer Zrt. created Hungary's largest domestically owned Microsoft cloud service partner company, further strengthening our market position. Recurring revenue exceeds 80%, which provides us with stability and predictability. AI-based services and the Microsoft AI platform also contribute to growth, as more and more companies are adopting these solutions.

We continue to see stable business in the international software development segment and are optimistic about the coming year in terms of orders. We are receiving continuous orders from our customers and our framework agreements remain in force.

At Gloster – Minero IT Hungary Kft., orders for the first half of 2025 are already visible, so we can expect a stable start to the new year, and orders for this year are still coming in steadily during the first quarter.

At Gloster - P92 Informatikai Kft.'s largest clients, we continue to see stable business performance, with orders for current projects extending through 2025. We are seeing a slight decline in some smaller projects, but we also have two promising new clients, which is an advantage for the rapid launch of projects.

In addition to orders from existing customers, we are also optimistic about the prospects for acquiring new customers. Based on the strengthened work of our international sales teams and the relationships we have built over the past year, we expect to win additional new customers and projects in 2025.

Analyst target prices

Gloster is followed by Erste , an Erste investment service provider. The link to the full analysis and the target price can be found in the table below:

This report shows the quarterly balance of open orders, which are orders that have already been contracted at group level but have not yet been fulfilled, as recorded on December 31, 2024. The quarters referred to in the report are calendar quarters. This statement contains preliminary, unaudited, and unconsolidated data.

Upcoming, planned releases

2025 Q1 Order backlog - Second week of April 2025

This prospectus has been prepared by Gloster Infokommunikációs Nyrt. (registered office: 2142 Nagytarcsa, Csonka János u. 1/A. Building A/2.) This prospectus contains only factual information and reasonable conclusions based on reasonable calculations, which have been made public by the persons entitled to do so in accordance with the applicable legal obligations. This prospectus does not constitute an "investment recommendation" within the meaning of Section 5 (1) 9) of the Act on Capital Markets (Act CXX of 2001 on the Capital Market) and Section 4 (2) 8) of the Act on Investment Firms and Commodity Exchange Service Providers and the Rules of Activities They May Perform (Act CXXXVIII of 2007 on Investment Firms and Commodity Exchange Service Providers and the Rules of Activities They May Perform). 4.4.1.2. does not contain any analysis, proposal or other information concerning an investment analysis, a financial instrument, a stock exchange product or its issuer, the disclosure of which, in itself or in any other way, could influence an investor to make his own or another's money or other assets dependent, in whole or in part, on the effects of the capital market. Gloster Infocommunications Plc and its representatives accept no liability for any investment decisions based on the conclusions drawn from the information contained in this prospectus, for any adverse legal consequences thereof or for any financial losses.

Nagytarcsa, January 13, 2025.

More information:

Dr. Adrienn Karlovich-Szabó

Investor Relations Officer

karlovich.szabo.adrienn@gloster.hu