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Gofore: Strong growth track continues in December; CMD tomorrow - SEB

Gofore’s December marked another month of solid sales growth, topping our estimates. As in previous months, daily invoicing/FTE in Q4 was roughly the same as last year, thus, given inflation, the margin in Q4 should be under pressure. However, we already account for a declining margin for Q4. The company will host a CMD tomorrow in which we expect more colour on the revised organic growth target of >15% for 2023-24.

Gofore’s December marked another month of solid sales growth, topping our estimates. As in previous months, daily invoicing/FTE in Q4 was roughly the same as last year, thus, given inflation, the margin in Q4 should be under pressure. However, we already account for a declining margin for Q4. The company will host a CMD tomorrow in which we expect more colour on the revised organic growth target of >15% for 2023-24.
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