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  • Schöneck, Germany

GK Software continues to grow in the first quarter too

GK Software SE continued to register moderate growth during the first quarter of 2019 and generated turnover of EUR 24.56 million (Q1 2018: EUR 23.67 million).

  • Turnover in its core business grows by 8.7 percent
  • No change to the forecasts for 2019 and 2020

The GK/Retail core business grew once again, by 8.7 percent; the strong turnover in software development was able to make up for the ongoing shortfall in licence revenues. As a result, the EBITDA amounted to EUR -0.67 million (Q1 2018: EUR 1.34 million).

The Company was able to gain two more customers in the USA and sign an agreement on a subscription basis in Colombia during the first quarter. One US customer also decided to introduce our new petrol station solution and it is due to go live in Q3 for the first time. What was particularly important was that SAP accepted the first solution based on artificial intelligence within its portfolio. SAP will now market the solution for automated pricing called SAP Dynamic Pricing by GK internationally; the solution is based on the new AIR platform (Artificial Intelligence for Retail).

The Management Board is continuing to stand by its medium-term forecast up until 2020 and its forecast for the current financial year; both of these were published in the last financial statement.

The statement for the first quarter of 2019 can be located at: