GK Software enjoyed a very successful Q4 and gained its first major customer in France

GK Software SE continued its successful course in the fourth quarter and gained several new customers as well as signing agreements with significant existing clients.

  • New customer from the group of top 50 global retailers
  • Enormous increase in the cloud business

The new customers include a French company for the first time and it is one of the world's 50 largest retailers. In addition, two other retailers opted to introduce full cloud services and will make use of cloud4retail as software-as-a-service (SaaS). The new customers for the Company's core solutions come from countries like Chile, Canada and, for the first time, New Zealand and operate in the food retail, consumer electronics and DIY sectors.

As a result, GK Software was able to gain ten new customers overall on four continents for its core solutions during the 2020 financial year, despite the restrictions placed on sales opportunities. Three more existing customers also decided to switch their operations to OmniPOS during the past year. Deutsche Fiskal was also very successful in attracting new customers for its fiscalisation services.

Overall, the Company was able to sign agreements for cloud services with a minimum order volume of EUR 48 million; in most cases, they will have a term of between three and ten years in the form of SaaS services. Despite the restrictions caused by the Covid-19 crisis, turnover amounting to approx. EUR 7 million was generated in the classic licence business too.

In the light of the results during the fourth quarter, the Management Board expects the Company to meet its forecast for the full year; it believes that this will be accompanied by a slight increase in turnover with a significant improvement in profitability.

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