Extraordinary information - Significant growth expected in Gloster's first half-year report

Extraordinary information

A Gloster Infocommunication Public Limited Company (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János utca 1/A. building A/2.; hereinafter referred to as: the Company, Gloster) is the legislation, in particular the Capital Market Act CXX of 2001.

Law ("Tpt.") and the General Business Rules of the Budapest Stock Exchange, the the following information to the Honoured Investors.

Significant growth expected in Gloster's first half-year report

The management of the expects significant growth in the second half of the year

From HUF 5.8-6.6 billion, 35-45% higher than in the same period last year and half-year EBITDA of HUF 490-610 million are expected by the Gloster's management expects the Company's first half 2024 results to be published in September report.

A good performance was supported by the continued solid performance of the Cloud business, and the successful turnaround of closed projects in the Software Development business into new long-term contracts with a steadily strengthening international sales international presence.

Expected will further improve the Company's performance by the fact that in the first half of 2024 the successful completion of the final phase of several previous acquisitions and the acquisition of Sytemfarmer Zrt.[1] has been completed, shifting the focus to integration and joint business opportunities.

A Although the Systems Integration business is expected to perform below the half-year planned level, but the business is at a milestone, where the where management expects to deliver a number of high value projects could start in the second half of 2024.

Encouraging sign for the year-end results is that Gloster is 170% higher, with a record HUF 4134 million in open orders[2] 2024 and a 137% higher order backlog of HUF 3470 million 3470 million in open orders[3] 2024, which are expected to be completed in the second half of the year accelerate in the second half of the year. Further slight improvement is expected from the Gloster Level Up programme[4] program in the second half of 2024.

Consolidated unaudited half-yearly data million HUF million. The IFRS translation of the results is in progress, which has no significant impact on the financial results.

A management is also optimistic about the growth prospects for the second half of the year , driven by the two previously announced 15,7 % growth in the million worth of software development orders[5].

A Cloud business in the second half of 2024 on traditional migration projects security and BizApps services are expected to grow. These projects on the security side are mainly Intune and Autopilot implementations, and for BizApps in the delivery of custom solutions based on Power Platform in the area of Power Platforms.

A Management expects the international software development business to expect a steady flow of new business from all existing customers in 2024 new orders. Direct sales presence in Germany and Sweden in Germany and Sweden, and the sales team has been further expanded in the UK, new customers and significant new orders by 2025. Gloster from the strengthened teams.

A improved half-yearly management data and the foreseeable provide a solid financial basis for a successful year 2024. and should provide a solid basis for the first phase of the projected 2026 dividend payment in 2026, which could underpin a renewed recovery in the share price. a return to an upward trajectory.

A Gloster shares are followed by ERSTE Investment Ltd., target price 1183 HUF, buy with a buy recommendation.

About Gloster

Gloster on BSE listed in the standard category of the BSE, offering a wide range of international IT international IT service provider. In its more than 20-year history, Gloster has grown from a hardware garage company to a software to an international medium-sized company with a software focus. Gloster is a fast-growing eleven transactions since 2018 and has grown to expanded its activities in systems integration, cloud solutions and and international software development services. The group is currently with a team of nearly 350 people, its audited consolidated accounts for 2023 with revenues of HUF 10.3 billion and adjusted EBITDA of HUF 976 million, Profit after tax of HUF 414 million.

This information note has been produced by Gloster Infocommunications Plc. (registered office: 2142 Nagytarcsa, Csonka János u. 1/a). factual information and reasonable information based on reasonable calculations conclusions, which are based on reasonable and reasoned information and which may be relied upon by persons entitled to do so under the applicable obligations under the applicable legal provisions. Present (Act CXX of 2001 on the Capital Market), § 5 (1) paragraph 5(5)(9) of the Stock Exchange Act does not constitute an "investment recommendation" and is not subject to the provisions of the Bszt. (on investment firms and commodity exchange service providers and on the and the rules governing the activities they may carry out) Article 4(2)(8) does not include investment analysis, financial instruments, exchange-traded products or their issuers or other information, the disclosure of which would in itself or in any other way, may influence the investor to decide for himself or or other person's money or other assets from the effects of the capital market, in whole or in part on the influence of the market. Gloster Infocommunications Plc. and its representatives do not assume any responsibility for any conclusions drawn from the information in this prospectus for any investment decisions based on the conclusions of the information contained herein, their adverse legal consequences, or financial losses.

Nagytarcsa, 3 September 2024.  

Gloster Infocommunications Plc.

More information:

Dr Bassola Eszter

Investors relations officer

bassola.eszter@gloster.hu

[1] Hungary is created largest domestically owned Microsoft cloud services partner https://gloster.hu/uploads/befektetoknek/kozzetetelek/rendkivuli-tajekoztatasok/Letrejon-Magyarorszag-legnagyobb-hazai-tulajdonu-Microsoft-felhoszolgaltato-partnercege-65cef84f1e67d.pdf

[2] AN UNPRECEDENTED RECORD LEVEL OF GLOSTER'S OPEN ORDER BOOK https://gloster.hu/uploads/befektetoknek/kozzetetelek/rendkivuli-tajekoztatasok/Gloster-2023Q4-Order-Backlog-65cb92d210841.pdf

[3] Gloster at another peak open orders https://gloster.hu/uploads/befektetoknek/kozzetetelek/rendkivuli-tajekoztatasok/Gloster-Order-Backlog-2024Q1-661907579c549.pdf

[4]200 million a year business development programme launched in Gloster https://gloster.hu/uploads/befektetoknek/kozzetetel/rendkivuli_tajekoztatasok/28982-Rendkivuli-tajekoztatas_-Evi-200-millios-vallalatfejlesztesi-program-indul-a-Glosterben.pdf

[5] EUR 15 million industrial Gloster wins industrial software development contract from BMW https://gloster.hu/uploads/befektetoknek/kozzetetelek/rendkivuli-tajekoztatasok/Rendkivuli-tajekoztatas-15-millio-EUR-os-megbizast-kapott-a-Gloster-a-BMW-tol-6672898577f31.pdf