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Original-Research: GFT Technologies SE - from Quirin Privatbank
Kapitalmarktgeschäft

06.03.2026 / 15:07 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS
Group.
The issuer is solely responsible for the content of this research. The
result of this research does not constitute investment advice or an
invitation to conclude certain stock exchange transactions.

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Classification of Quirin Privatbank Kapitalmarktgeschäft to GFT Technologies
SE

Company Name: GFT Technologies SE
ISIN: DE0005800601

Reason for the research: Update
Recommendation: Buy
from: 06.03.2026
Target price: 33
Last rating change:
Analyst: Sebastian Droste

AI-centric strategy gains traction
On March 5, 2026, GFT released its full-year preliminary results 2025 and
provided guidance for 2026. Revenue growth was weak (+2.0% yoy to EUR
888.3m) and in line with our expectation (+0.4% vs EUR 885.0m). Growth was
supported by strong demand in Insurance and Industry & Others and by strong
expansion in Brazil, Colombia, the USA and APAC, as well as increasing
adoption of AI-driven modernization projects and the scaling of the Wynxx AI
platform. However, growth was limited by declining Banking revenues, weak
demand in Europe, particularly in Germany, Italy and Spain, and a sharp
revenue decline in the UK due to restructuring. The EBT margin declined yoy
to 5.2%, slightly above our estimate (+0.1ppt), mainly impacted by the
transformation in the UK and Software Solutions, capacity adjustments and
ongoing AI investments. For 2026, GFT guides revenue growth of 5.0% yoy to
EUR 930.0m and an EBT margin of 6.0%, exceeding our expectations. We raise
our target price to EUR 33 (from EUR 32) and confirm our Buy recommendation.

You can download the research here:
https://eqs-cockpit.com/c/fncls.ssp?u=fe85637e0c9cf2e28770d02032336a70
For additional information visit our website:
https://research.quirinprivatbank.de/

Contact for questions:
Quirin Privatbank AG
Institutionelles Research
Schillerstraße 20
60313 Frankfurt am Main
research@quirinprivatbank.de
https://research.quirinprivatbank.de/

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2287302 06.03.2026 CET/CEST

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