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Gofore: Success in growth and recruitment - SEB

Gofore’s Q1 growth accelerated from the already strong pace at end-2021, whilst the increase in the number of personnel shows the company expects solid demand to continue in the coming quarters. Despite the minor miss in profitability – we have cut our 2022 EBITA estimate by 2% – we believe the investment story is intact. The company is outgrowing the market and has hefty acquisition capacity to boost is pace of growth.

Gofore’s Q1 growth accelerated from the already strong pace at end-2021, whilst the increase in the number of personnel shows the company expects solid demand to continue in the coming quarters. Despite the minor miss in profitability – we have cut our 2022 EBITA estimate by 2% – we believe the investment story is intact. The company is outgrowing the market and has hefty acquisition capacity to boost is pace of growth.
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