STUTTGART (dpa-AFX) - IT service provider GFT Technologies has once again lowered its revenue forecast for the current year. The company, which specializes in the digitalization of banks and insurance companies, announced in Stuttgart on Thursday that this was in response to the current reluctance of clients to invest. GFT expects revenue of between 800 million and 810 million euros in 2023, ten million less than previously. However, the earnings forecast was confirmed. GFT had already lowered its outlook in the summer due to the difficult economic environment. However, the company continues to signal significant growth compared to its 2022 revenue of EUR 730 million.

In the first nine months of the current year, consolidated revenue rose by ten percent year-on-year to 594.6 million euros, according to the statement. Income in the insurance business declined slightly. Adjusted earnings before interest and taxes increased by seven percent to 52.1 million euros. At 34.8 million euros, GFT earned three percent more net. Analysts had expected slightly more./nas/mis