Half Year 2019 GFT Technologies SE Earnings Call Transcript
Thank you very much. Ladies and gentlemen, good morning from Stuttgart, and welcome to the financial results of the first half year 2019. I hope you have the presentation available. It is on our website. We're sharing it in the webcast. So you should be able to follow.
Please immediately go to Slide 2, let's jump in highlights of the first half year. And we have seen a further expansion of client and sector diversification at GFT. We have seen 20% growth in the not top-2 client group, which was 19% in Q1. So we increased it to 20%. And the drivers are unchanged. It is around cloud, it is business development and agile methodology. It is Guidewire and other exponential technologies. The revenue share of insurance was still at 11%. And we, overall, saw revenues par with the year before.
Adjusted EBITDA is up 7%. But please remember that the IFRS 16 effects are quite big. And as expected, the earnings, the EBIT of the first half is burdened by underutilization and restructuring.
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