Growth at Gloster: over 10 billion in turnover in 2023

Regular SUPPORT

A Gloster Infocommunication Public Limited Company (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János utca 1/A A/2. ép.; hereinafter referred to as the Company, Gloster) is the owner of the relevant and the General Business Rules of the Budapest Stock Exchange Gloster hereby informs the Honoured Investors of the following.

Swinging Growth at Gloster: sales over 10 billion in 2023

Published by 2023 report of the listed IT company

Nagytarcsa, 23.04.2024 - To more than 20 countries on 4 continents of the world, 8 locations 274 with 8 locations and 8 employees, Gloster's adjusted net sales increased by 75 percent to 10.3 billion forints, including foreign sales revenue of increased 130 percent to HUF 4.6 billion in 2023. Compared to the previous year, adjusted EBITDA increased by 29% compared to the previous year, reaching HUF 976 million.

Retrieved from exceeding its export targets, in 2023 new adjusted revenue targets compared to previous years record (HUF 10 319 million +75%), domestic sales will grow at a brisk pace. an emerging international IT services company listed on the domestic stock exchange. Growth continues remarkable: at HUF 3.9 billion, the domestic sales closed at HUF 4.6 billion, up 130% on the previous year 4.6 billion in adjusted foreign currency-adjusted sales.  

All data in millions of HUF, consolidated but unaudited. The audit is ongoing.

* Correction factors 2022: foundation-transformation 4.000 eFt; KIVA reclassification to salary costs 56.683 eFt

** Correction factors 2023: foundation-transformation 28,850 eFt; KIVA reclassification to payroll 109,574 eFt, P92 revenue and EBITDA of calculated for the full year 2023

A growth was largely driven by the largest ever acquisition of P92 IT Solutions Kft.: the contract for the acquisition of P92 IT Solutions Kft. was signed by the parties until 2023. The contract was signed on 15 June 2023. As the transaction was not completed until 3 August 2023, the PFI Group's share in the purchase of the new IT solutions of P15 but under the terms of the sale and purchase agreement, the entire 2023 profits will be distributed to the the new ownership structure, the parties will share the 2023 profits, so that the now published now with P92's pro-rata figures, full-year turnover and EBITDA, the company will also include growth figures adjusted for the P92 figures.

A In 2023, the Group exceeded its 2026 strategy target of 2026 targets for the share of export turnover. According to the report just published the adjusted net profit of the IT company, listed on the Standard Market of the Budapest Stock Exchange, amounted to increased by 75% to HUF 10.3 billion, including foreign sales of revenue from foreign sales grew 130% by 2022 compared to 2022. The resulting foreign sales of HUF 4.6 billion accounted for 45% of total sales, which is already higher than the target set in the long-term strategy. target of 30-40%.

Also more than the strategic objectives set earlier, by 63%, 6.3 billion forints in 2023. With this Gloster Group's long-term performance from renewable contracts revenue from long-term renewable contracts reached 61.1% of total revenue, which is below 2022, which is due to the fact that the Systems Integration business project revenues of the Systems Integration Division.

 Growing sales accompanied by expanding adjusted EBITDA Gloster achieved HUF 976 million in 2023 (the IFRS EBITDA was HUF 730 million), 29% higher than the previous year compared to the previous year.

From Profit after tax and EBITDA as a percentage of sales for the 10 companies integration, the transition to IFRS and the change of the stock exchange category were reduced by one-off expenses. The increase in 2023 was again driven by the International Software Development business, which net sales, including the latest acquisition, grew by +137%, which is which significantly improves the profitability of the group as a whole. The company had a successful year in Systems Integration business also had a successful year, with revenues up 56%, but Gloster Cloud business also had a good period, with 19% growth despite its revenue comes mainly from the currently rather stagnant domestic market.

Consolidated, not unaudited figures in millions of HUF; *corrected: P92 for full year on a full-year basis

A Gloster also significantly increased its headcount with the acquisition of P92, as the the total number of employees in the group reached 274 at the end of the year, up from 199 employees registered last year.

"It's hard year, the Gloster team has once again performed outstandingly. We are beyond the company the largest acquisition to date, a stock market reclassification, we have transitioned to IFRS reporting, while also growing organically. All all credit to the team, I think investors have every right to feel that we have the right growth story when they became our shareholders. We are making progress forward with our 2026 strategy, to which Gloster has consistently adhered." - said Viktor Szekeres, CEO of Chairman of the Board of Gloster. He underlined that the latest figures also show that the company is that the indicators that the Company's management supports, i.e. growth indicators (such as regular and export turnover) are dragging the group's main performance indicators (EBITDA, total net turnover).

"Besides, we will implement the Gloster Level Up programme in 2024, which will generate 200 million forints a year, we will invest significant energy in the development of our foreign markets. further development of our foreign markets. The aim is to open up to new premium markets such as DACH region, USA, UK and Scandinavia. The expected results of the programme are visible impact on profit after tax." - Mr Szekeres stressed. He added that the results achieved so far experience so far shows that the high service levels expected in the selected markets the German market is an excellent basis for meeting the high standards of service is a good basis for Gloster.

***

About Gloster

Gloster is a Hungarian listed company offering a wide range of IT services provider of a wide range of services. During its more than 20 years of history, Gloster has grown from a hardware garage company to a software to a software-focused international IT midsize company. Founder, one of the owners and Chairman of the Board of Directors. Gloster is a company with an intensive acquisition successfully closed ten acquisitions since 2018 and has been a leading and has expanded its activities in systems integration, IT security and public cloud-based solutions and international software development services and international software development services. The Group now has a team of nearly 274 people and is on track to expand its global IT and services business to the global IT and services industry by 2023 adjusted revenue before audit of HUF 10.3 billion and EBITDA of HUF 976 million HUF 976 million. Gloster is still looking for IT companies, to help it achieve its strategic goals, while at the same time solutions that will make its operations more efficient and effective. its existing portfolio.

Nagytarcsa, 2024. 23 April 2024 Gloster Infocommunication Plc.

More information:

dr. Eszter Bassola

Investors relations officer

bassola.eszter@gloster.hu