Good afternoon, everyone, and welcome to GFT's first-half 2026 results conference call. I'm Andreas Herzog, Head of Investor Relations at GFT.

Thank you very much for joining us today. Joining me on the call are Marco Santos, our Global CEO; and Jochen Ruetz, CFO and Deputy CEO.

Before we begin, please note that today's call is being recorded. The presentation accompanying today's discussion and the half-year reporting materials are already available in the Investor Relations section on our website.

The replay of this conference call will be available there also afterwards following today's event. Marco will begin with an overview of the key developments and highlights during the first half of the year, followed by Jochen, who will discuss the financial performance and outlook, and we will then open the line for your questions.

With that, let me hand over to you, Marco. Marco, please go ahead.

Thank you, Andreas. Good afternoon, everyone, and thank you for joining us today.

Let me start with the highlights for the first half of 2026 and our full-year guidance. We delivered solid revenue growth, significantly improved profitability, continued to scale our artificial intelligence capabilities and differentiation, and confirmed our 2026 guidance.

These results demonstrate disciplined execution of our AI-centric five-year strategy and continued progress in transforming GFT into a responsible, AI-centric, global digital transformation company. In the first half of 2026, GFT generated €463 million of revenue, representing 5% growth in euros and 5% growth in constant currencies.

At the same time, profitability improved significantly. Adjusted EBIT grew by 8% to €33 million, corresponding to a margin of 7.1% compared with 6.8% in the first half of 2025.

EBIT increased by 26% to €24 million, with the EBIT margin improving from 4.3% to 5.2%. This margin improvement confirms that our growth is progressing hand in hand with stronger earnings quality.

It also reflects disciplined delivery, tighter operational management, and the increasing contribution of AI-native services, our Winks agentic AI platform, and high-value-added service offerings. Our main growth markets in the first half of the year performed strongly.

Revenue grew by 38% in Brazil, 27% in Colombia, 22% in Switzerland, and 13% in Spain. We recorded growth across all sectors, including banking, insurance, with industry leading with a strong 14%.

Overall, the first half confirms that we are progressing in line with our strategic and financial objectives: growing the business, expanding margins, and scaling up our AI-native assets, services, and offering portfolio. Based on this performance, we confirm our full-year guidance of €930 million in revenue, €71 million in adjusted EBIT, corresponding to a margin of 7.6%, and €56 million in EBIT, corresponding to a margin of 6%.

Let me now turn to the execution of our AI-centric five-year strategy and the tangible progress we are making with key clients and high-value-added services and offerings. First, our AI modernization offering, launched nine months ago and supported by an integrated global marketing campaign, is already achieving strong commercial traction.

We won more than 20 projects across nine countries, encompassing advisory services, application modernization, migration, and application AI-reimagined. This confirms that clients are moving beyond experimentation with GFT and committing budgets to production-grade modernization programs heavily driven by AI.

GFT combines strategic assessment, new target business and technical architecture design, and program governance with the Winks agentic AI platform across the full life cycle, from legacy analysis and business rule extraction to code transformation, validation, and deployment, with human oversight and governance built in. Second, we won six next-generation core banking programs across Germany, Canada, Spain, Poland, and Thailand, working with partners including Thought Machine and Engine by Starling.

These wins reinforce GFT's position as a leading implementation partner for cloud-native core banking. They also create multi-year opportunities across architecture, integration, AI-native engineering, and ongoing platform evolution.

Third, GFT won the strategic development of COAF's financial intelligence system. COAF is Brazil's financial intelligence unit linked to the Central Bank of Brazil.

The new solution will combine Winks with our specialized smaragd anti-money-laundering capabilities to modernize a critical part of the country's financial intelligence system. The project brings together our agentic AI platform, deep anti-money-laundering expertise, and advisory capabilities, positioning GFT at the center of the Brazilian anti-financial crime intelligence infrastructure.

Fourth, we completed the large-scale go-live of the smaragd anti-money-laundering platform for a tier-one European bank. The platform went live and now supports 25 million customers and processes approximately 1 billion transactions per month.

This is one of the largest AML implementations in the region and a mission-critical implementation at exceptional scale. It confirms the maturity of our anti-financial crime capabilities and the trust clients place in GFT to operate at the core of highly regulated banking environments.

Fifth, we successfully supported Commercial Bank of Dubai in launching UP by CBD, a mobile-first banking platform for micro and small businesses in the UAE. It combines digital onboarding, payments, payroll, savings, and instant access to credit in a single application with direct integration into the Dubai Unified License.

This engagement reflects our delivery excellence and cloud-native core banking expertise, strengthen strategic client relationships, and accelerate the launch of new digital banking propositions at scale. Taken together, these highlights demonstrate focused execution, delivering complex programs, scaling differentiated offerings, and converting our AI-centric strategy into measurable client and commercial impact.

Let me now focus on the tangible results of our AI-centric strategy. Our Winks agentic AI platform for software engineering continued to scale.

It's now active in 12 countries and supports 113 clients. The total influenced contract value has reached more than €144 million since inception of the product, representing growth of 38% quarter-over-quarter.

This continued expansion shows the growing adoption of Winks across our software engineering and AI modernization engagements and its increasing role in GFT's AI-native delivery model. Beginning this quarter, we are introducing a new KPI for Winks software engineering to improve the measurement of tangible results.

In the first half of 2026, Winks software engineering generated €24.4 million of actual influenced revenue. We are also launching Winks business process as a new pillar of the Winks agentic AI platform with dedicated assets, accelerators, and offering portfolio.

In the first half of 2026, Winks business processes alone generated €14.8 million of actual influenced revenue, supported by six client references, including a key agentic AI credit risk platform for a tier-one European bank fully in production. This important client case study is not an AI POC, AI pilots, or MVP.

It's a large-scale agentic AI credit risk platform in full production for a major European bank. This AI-native project involved a team of more than 30 forward-deployed engineers with strong AI and data capabilities combined with banking and credit risk domain knowledge.

I will provide more detail on both areas in the next slides. To accelerate our AI-native transformation, we are investing strongly in our engineers to make them fully capable of working in a forward-deployed engineering model.

We recorded more than 3,500 training completions of third-party artificial intelligence coding tools, including Claude Code, GitHub Copilot, Codex, Gemini, and other tools. In parallel, we achieved more than 1,700 completions in advanced and specialist Winks modules.

These figures strengthen our ability to deploy forward-deployed engineers and AI-native teams, apply the right agentic AI tools for each client's environment, and industrialize a new AI-native delivery model globally. Let's talk about Winks.

I presented this slide during our 2025 full-year financial results call in March this year. This is the overarching view of the Winks ecosystem, which encompasses the current platform and its roadmap evolution.

Winks is built on a common layer that provides orchestration, governance, access to market-leading proprietary and open-source AI models and tools, as well as strong token consumption management and AI cost control capabilities. This common foundation is essential for scaling artificial intelligence responsibly across complex enterprise environments.

On top of this foundation, Winks addresses three areas of client transformation. The first is Winks software engineering, our agentic AI platform for software development lifecycle, AI modernization, and AI application management and support.

The second, which we are very proud to launch today, is Winks business process, through which we apply agentic AI automation to operational and industry-specific business processes and workflows. As part of our platform roadmap, we will launch the third pillar, Winks data intelligence, over the coming quarters, which will combine AI orchestration with industry-specific data models and business intelligence capabilities.

These features, functionalities, and capabilities are extended through Winks Agentic Studio and Winks Marketplace, enabling GFT teams and clients to create, govern, and reuse agents, assets, accelerators at scale. In the next two slides, I will show how Winks software engineering and Winks business process are developing as distinct commercial pillars within the Winks agentic AI platform.

We have primarily communicated adoption of Winks software engineering through the number of clients, geographic reach, and the total cumulative influenced contract value since inception of the product. The progression shown on this slide demonstrates how rapidly and successfully the platform has scaled up and being deployed across our clients' engagements.

Over the past 12 months, Winks software engineering has scaled from 42 to 113 clients, expanded from four to 12 countries, and increased total influenced contract value from €26 million to €144 million since its inception. This represents more than a fivefold increase in total influenced contract value, demonstrating accelerated adoption and strong commercial momentum.

We are now enhancing our current set of KPIs with a year-to-date revenue KPI to precisely measure the commercial and delivery performance of Winks. In this regard, the actual influenced revenue of Winks software engineering reached €24.4 million in the first half of 2026.

Let me now turn to Winks business process. We use agentic AI redesign to automate front, middle, and back-office business processes and workflows.

Our solutions combine data, perception, reasoning, orchestration, and governance to deliver measurable operational outcomes across industries, from anti-money laundering, know your customer, and credit risk in financial services to visual inspection and condition monitoring in industry and manufacturing environments. The portfolio currently has several assets across industries and business areas, including four key accelerators: the Winks Excel and Access modernizer, the Winks process reengineering, the Winks governance operating system, and the Winks agentic architecture for business processes.

Together, they cover the full journey from modernizing legacy businesses tools and redesigning process to embedding regulatory governance and implementing scalable multi-agent architectures across business processes. A strong case is our agentic credit risk platform for a European tier-one bank.

It supports several end-to-end business processes and workflows, including credit memo generation, model validation, reporting, natural language access to risk data, and portfolio shock analysis. In one use case, report generation time was reduced from several hours to approximately 15 to 30 minutes while improving standardization, auditability, and the ability for analysts to focus on higher-value decisions.

In the first half of 2026, Winks business processes generated €14.8 million of actual influenced revenue. We are particularly pleased to launch this new pillar of Winks, which is fully focused on our clients' business domains and extends far beyond software engineering.

These results demonstrate that our AI-centric strategy is delivering through the strong execution across our AI-native IPs, assets, and services, from agentic AI software engineering to agentic AI business process operations, with governance, human oversight, and measurable business value built in from the start. With that, I will now hand over to Jochen for a detailed review of the financials.

Thank you, Marco, and let's move on and directly go to slide number 11 and look at the H1 financials in one page. The headline states it: sustained growth momentum.

We see revenue growth of 5% in the first half year of '26 to €462.6 million. It's 5% growth in current currency and in constant currency, FX did not play a role for the overall group numbers in the first half.

Did play a role on the regional level. I'll come to that a bit later.

The second line, the order backlog is up 18%, strong development versus last year, roughly 5% for this year and a strong buildup for future years. Especially our new SAP business in Brazil is now heavily contributing to the order backlog, as the contracts are often multi-year contracts.

EBIT adjusted is up 8%, reflecting an improved personnel efficiency of which we mostly invested into AI and new services. We saw lower office expenses and managed corporate service costs and reduced FX losses.

Here the contribution is roughly €700k of improvement. EBIT adjusted margin increased to 7.1% versus 6.8% in the last first half year.

On EBIT level, we see a growth of 26%, significantly above previous year's numbers. Reasons are of course the same as for EBIT adjusted, plus lower capacity adjustments, which only stood at €3.5 million versus €7 million in the first half of 2025.

We had a minor effect from virtual shares, and overall, the EBIT margin significantly increased to 5.2%, coming from 4.3% last year. Tax rate stood at 29%, which is also the number we foresee for the full year.

Let's move to slide number 12 and start on the left side of the slide looking at our sectors. All three sectors of GFT show growth.

Let me start at the top. Industry and other clients grew by 14% in the first half year of 2026, insurance business by 7%, and the banking business grew by 3% in the first half of 2026.

Looking at the right side, our client portfolio, we see that the tier one and tier two, the two biggest groups combined, stand for 54% of all our revenue, a bit down versus last year. It was 56% in '25, but overall well-balanced client portfolio.

Moving forward, slide number 13, take a look at the second quarter. The second quarter came in at €233.04 million in revenues, which is a 6% increase versus previous year's second quarter, main drivers coming from Brazil, Spain, and Colombia.

If we compare versus the last quarter, versus Q1 of '26, we see a 2% increase in revenue. Now going to the right side of the slide, profitability.

EBIT adjusted came in at €16.5 million in the first half of '26. This is a 10% increase versus Q2 of '25.

Sorry, this is only the quarter. Q2 '26 versus Q2 '25.

This is mainly due to improved personnel efficiency and cost management. When we compare to the previous quarter, we see a 3% increase, and the reasoning is the same: personnel efficiency and cost management.

That said, let's move to slide 14 and look at our business segments, revenue first. Let me start at the top with the European business segment.

Here we show a bit mixed performance with a total decline of 3%. Germany was still experiencing investment caution, while Spain shows strong growth.

In this European business, we also include our UK organization, and UK declined year-over-year, but with improving trajectory. In Q3, we expect UK to exceed the revenue of Q3 last year.

You probably remember UK was challenging us in '25, and we always said we would come back to profitability in January. We would come back to growth in July of '26.

This is exactly what we're seeing. The first half is still below the first half of '25, but from Q3 onwards, we will be back to growth.

If we eliminate the UK from the European numbers, the rest of Europe is plus/minus zero in revenue evolution in the first half year. Now let's go to the bottom of the graph and look at Americas and APAC, where we see 14% growth versus previous first half year, mainly driven by Brazil and Colombia.

Moving to slide 15 and now focusing on profitability. On the left side, we see the EBIT adjusted evolution, and again starting with Europe.

Europe is up 29% in EBIT adjusted, overall strong improvement mainly driven by the strong improvements we've seen with UK and software solutions. In the first half year of 2025, both were strongly negative.

In this first half year, UK is back to profits, and software solutions is still in investing mode, but at smaller losses. Looking at Americas and APAC, we see that the EBIT adjusted improved by 15%, mainly driven by the strong demand in Brazil and Colombia.

When we move to the right side, the story doesn't change. It just gets a bit steeper, especially in Europe.

EBIT improved in Europe by 120%, mainly because now the restructuring costs are included, and they are far lower in '26 versus 2025. On the Americas side, we've seen improvement of 5%, a bit less than on the EBIT adjusted.

We have a more stable restructuring cost in that area, but overall, we still show improvement, which again is linked to Brazil and Colombia. Moving to slide number 16, the breakdown by our global regions.

Let me start from the bottom with the smallest region, which is APAC and others. Here we are down 3% after six months.

It's a small region. 3% is a small number.

We believe APAC and others will show growth for the full year of '26, I expect them to come back to a positive green arrow for the full year numbers. UK is still down 18% in the first half, as indicated.

The trough happened in Q1 and Q2, and from now on, Q3 forward looking, we should see growth. North America is down 7%, but I have to explain the FX effects here.

They're written on the right side in the text. We see Canada is down 12% on euro basis; in local currency, it's 8%.

Here we do have a client with quite pass-through low-margin business, which we are slowly reducing, which will go on until mid-2027. At the same time, Canada is getting more profitable.

USA stable in euro. It is growing by 7% in US dollars, very important.

Here the FX was against us, but the US growth trajectory is still intact. Now we go to Latin America, where we see 28% growth on euro basis, Brazil contributing 38%, Colombia 27%.

Both numbers would be a bit lower in local currencies. We had a bit of tailwind in Latin America, and we had headwinds in North America.

The saldo of the two leads to no FX impact on the group level, but in the different regions, contributions are different. Continental Europe, last but not least, now here excluding UK, at plus/minus zero.

We have very strong growth in Spain at 13%, but we have a decline in Germany at -12%. Now moving a bit faster on the next slide, slide 17, the income statement.

I would only want to mention the third line, which is cost of purchased services. They grew by 10%.

Let's remember, we acquired Megawork in September last year. The Megawork business is a 95% freelancer business.

They are not included in the '25 numbers. In H1 '26, Megawork is included, and this fully explains the increase in cost of purchased services, that we are now having the Megawork numbers inside GFT Group.

At the same time, fourth line, personnel expenses only grew by 3%, more slowly than the revenue. If you combine the two, which we always do in the fourth bullet point on the right, as the personnel and purchased services cost ratio, this one is stable at 85%.

I think that's all I have to mention on this slide. Let's directly move to the cash flows on slide 18, cash flow statement.

We started the year with €55 million in net cash on the very left of the slide, and now the numbers for the first half: operating cash flow was -€1 million, which is an improvement versus last year, as you see in the bullet points on the right. Last year we stood at -€9 million.

This is explained by the higher net income and working capital effects. Why is operating cash flow negative after six months?

It's the same seasonality as we have every year. A lot of our revenue is wrapped up in contract assets, in fixed-price projects with our clients, which will get paid somewhere in the second half of the year, and then we will come back to a normal cash flow by the end of the year.

Looking at investing activities: small outflows of €2.1 million, and financing activities is dominated by our dividend payment of nearly €13 million and our lease payments for our offices. Now, if you add up the free cash flow, which is the last bullet point on the right, we see that the free cash flow adjusted improved to -€8.3 million after €17.3 [million] a year ago.

In a nutshell, cash flow in first half year is absolutely in line with our plans. Slide number 19, our balance sheet.

Not much to comment here. The balance sheet total reduced a bit to €627.5 million.

Maybe a mention on the top right, we see the equity ratio, which improved by 5 points, driven by good net income and positive currency translation effects, which only materialize in the equity ratio. Good news from the equity side.

Now this brings me to slide number 20, our people slide. Let's start on the left of this slide.

Employee numbers at the end of June stood at 11,805. This is mostly flat versus the beginning of the year '26, and it's a 3% growth versus June last year.

Growth happened in Colombia and Spain, with some declines in Mexico, Canada, and Germany. The number of external contractors reduced, and here we are comparing—this is now the bullet point on the very left bottom of the slide—we're comparing to the end of last year, '25, which was 1,445 and already included Megawork, and now we stand at 1,375, still including Megawork, which means the classic GFT business used less freelancers in the first half of '26.

Moving towards the middle of the slide, we see that utilization rate increased to 92.8%. This is an improvement of 0.6% versus last year's quarter and the previous quarter, mainly driven by Brazil and Colombia.

The efficiencies we gained would usually show up in profitability, but we have invested our additional margins on additional business development initiatives to strengthen our overall positioning, especially on AI and banking transformation. Moving to the right side: attrition.

Attrition stands at 10.4%. It reduced versus last quarter by 0.8%, versus last year by nearly 2 percentage points, which is quite a big impact.

We see this happening mostly in Europe, where there's not so much business dynamic and therefore people don't change jobs easily. We also saw a reduction in Latin America, driving down this number to 10.4% of attrition.

My last slide, additional performance indicators, the milestones we always name are all unchanged. Our free cash flow for the year is expected to be at roughly €40 million.

Our net debt versus EBITDA ratio is expected to be at 0.2 times, and our utilization will continue to be in the area of 92% for the rest of the year. Marco.

Thank you very much, Jochen. Let me summarize the key message from today.

We delivered a solid first half of 2026 with 5% revenue growth and a strong increase in EBIT while confirming our full-year guidance. This reflects disciplined execution of our AI-centric strategy and continued progress in strengthening the quality of our earnings.

Momentum remained strong in our key markets, particularly Brazil, Colombia, Switzerland, and Spain, and we achieved growth across all business sectors. Our AI-native delivery excellence and strong industry domain expertise are also translating into major engagements across next-generation core banking, data and cloud transformation, as well as anti-money laundering, credit risk, digital onboarding, and know your customer.

Our AI-centric strategy is increasingly visible in our commercial performance, the AI modernization offering gaining strong traction, confirming that our clients are moving beyond experimentation and committing to AI-powered legacy and application modernization programs. Winks has been successfully scaling up across our clients and expanding from software engineering to business processes, creating measurable revenue impact for our AI-centric growth strategy.

This demonstrates that our agentic AI platform is not only improving how AI-native software is engineered and delivered for large-scale and regulated enterprise, but is also expanding into the transformation of mission-critical business and operational processes. To conclude, we are executing our AI-centric five-year strategy with consistency and discipline.

We are reinforcing GFT's position as the artificial intelligence digital transformation challenger, combining engineering excellence, deep industry and domain expertise, and AI-native assets and capabilities in the areas where clients need them most. Thank you very much.

Now Jochen and I will be happy to answer your questions.

Thank you very much, Marco. Thank you very much, Jochen, for your remarks.

As Marco already stated, we are now happy to take your questions. To join the Q&A session, please use the raise-hand feature of this call.

We will call on participants in turn. Once called upon, please make sure to unmute yourself.

You need to do that by yourself. We have already some in the queue, I see.

The first question comes from Simon Keller, Kepler Cheuvreux. Go ahead, please.

NuWays, sorry.

Presentation. I have a couple of questions.

I start with the first three and then hop back into the queue. Firstly, where do you see the market cycle right now for bank-related IT services?

Do you see there any improvement, generally speaking? Then on the order backlog, I noticed that it did develop strongly.

My question is, you mentioned the SAP projects, but beyond them, did these six next-gen core banking projects that you mentioned have any positive or significant contribution to this? If so, how much?

Thirdly, then also a technical question within the adjustments that you highlighted: M&A effects have increased from Q1 to Q2, and I was wondering what's the reason. Does that maybe mean that a transaction is pending right now?

Thank you.

I'll pick up the last question first. No, it does not mean an acquisition is pending.

There's no main reason. I assume the main impact is FX, because the majority of our M&A effects are in South America, especially with the Megawork acquisition, also including an earnout.

The Brazilian real strengthening is now visible simply on a euro level. It looks a bit bigger than it would have a quarter or two quarters ago.

Same for Colombia Sophos acquisition. Maybe I don't know if you've seen it.

They have elected a very conservative new president, and the currency improved by nearly 10% over the last two or three months. Therefore, these two effects are the main drivers for M&A, nothing else.

On the order book, yes, you're right. Of course, the core banking projects take part in that.

They support it. They are not the majority.

As we said, we have invested into business development on the AI and banking transformation side. All these initiatives are now showing up also in order book for the coming years.

Yes, those six core banking, but not alone. It's SAP, core banking, and other initiatives, also around Winks, supporting this strong order book.

To complement the first question, what's the sentiment in the banking sector, if it's improving or not: so our understanding, it is improving. We see a better sentiment on our financial services clients, which is very good, and especially based on our AI modernization offering, which is an area that we grew considerably, and we also see several opportunities in our pipeline.

Thank you.

It answered?

Yes, it did. Thank you.

Okay. Thank you.

Sorry for mixing up the companies. Our next question, now we're coming to Kepler Cheuvreux and Mr.

Sven Sauer, please. Please go ahead.

You should now be on stage. Please make sure to unmute yourself.

Can you hear me, or no?

Now we hear you.

Hello. Thank you for taking my questions.

The first one is if you can still confirm that the UK business will see a revenue inflection in Q3. The second question would be if you think that it is possible or let's say more likely than unlikely that the second half of the year we will see a better cushion from FX than in the first half of the year.

My third question would be on attrition. Do you believe that the one reason why attrition is lower is similar to the reason why multiples in the IT and software sector have come down, which is due to the fears of AI disruption?

Let me pick up your FX question first. Yes, I think that the assumption is correct.

The first half still showed US dollar, Canadian dollar challenges, but last year the dollar and the Canadian dollar then settled more or less on the level we are at today. From that, those two currencies, we should not see further impact in the second half.

The Brazilian real—what a tongue breaker—Brazilian

[real]

up. That we overall roughly spend a million on tokens this year internally as GFT, and this was closer to nearly nothing a year ago.

That is of course included in all our guidance, but tokens are becoming part of the game and it has to be part of the pricing as well, and we're working on that.

We have a special team and a special initiative internally at GFT on a global perspective to work on the management and understanding of the evolution of the token consumption and the utilization of all the AI tools that we utilize. We also created an engine to manage the token consumption that we are making it available at Winks foundation in order to even bring that to our clients.

We have a special team on a global level, it's called AI-native delivery champions, a team of 20 35 delivery leaders and technology leaders that are all of them working integrated on a global perspective in order to how we are going to manage, control, and optimize the utilization of the tokens, and the most important, how to measure and link the utilization of tokens with the benefits that you are bringing to our clients, which is for us very key. Our intention is also to bring that as KPIs to our clients, cuz once we prove the utilization of tokens and the improvements on the throughputs on the value creation of our clients, and then we have a differentiation.

Perfect. Sounds good.

Maybe a quick last one, again on sentiment, similar to my colleague. Recently, there were discussions that IT budgets are shifting towards hardware before the price increases.

Do you see that coming at the expense of IT services or transformation projects?

As I mentioned on the other question, our reading is that we have a positive sentiment on the demand of our financial services clients, which is positive. I think that one key offering is the AI modernization that is getting a lot of traction.

I see that's clear. Commodity business will be under pressure and keep going under pressure, commodity services.

High-value-added services with a stronger deployment of AI, we see as good sentiment at this point of time. Obviously, we are positioning on the second.

Perfect. Thank you very much.

Thank you very much for your question. We have another question from Simon Keller, NuWays.

Please go ahead, Simon. Please unmute yourself, please.

Yes.

Perfect. Thanks for allowing the second round of questions.

Firstly, in what percent of projects do you utilize AI currently? Also, in light of your Winks influenced contract value KPI, why do you think this is the right measure to look at for monitoring AI utilization as well?

The second question is then on the sales impact of Megawork, either in Q2 or H1. Lastly, also with the growth outlook that you have, I recall that earlier this year you said that H2 should see a pickup in growth.

Do you still think that is the case? If so, what's your visibility here in terms of discussions also with your clients?

How does that fit towards the current guidance that you have outstanding? Thank you.

I'll start with the easy ones, right? Sales impact Megawork, that's really easy: contribution in the first half year was €8.3 million to our total revenues.

Growth outlook for the second half: I think we will see quite strong Q3 as of today, growth should pick up versus Q2 versus last year's second quarter, Q3 versus Q3. Three should look even better.

Then the real question for the second half year will be Q4, which is a bit early to call.

Thank you, Jochen. Regarding your question about AI deployment across our projects and clients and also Winks KPIs, right?

Let me start with the Winks KPIs. We've been in quite, let's say, improving evolution with the adoption of Winks.

We created a set of KPIs, drill-down KPIs, in order to measure the year-to-date revenue that we have with Winks, in order to measure the order book that we have in order to measure the weighted pipeline that we have, the unweighted pipeline, everything from the systems that we have in the company. Okay?

That's a natural evolution of the product and detail of KPIs. This is simply to bring more control and that we can measure the results of that.

Very happy with that development. Regarding the overarching deployment, overall implementation of AI technology across the teams, this is quite interesting topic.

We concluded a complete survey of all our projects that we have across the globe. We have more than 2,500 projects active right now, and we completed the survey of the utilization of all the AI tools that we are using from internally and the client tools and Winks and the combination of that.

We have it 100% mapped, and we know today in details what's the percentage of our projects that we have that we are using GitHub Copilot, what's the percentage of the projects that we have using Anthropic Claude, that we are using Gemini, OpenAI, that we are naturally using Winks. We are now getting even deeper to understand the gross margin one of each of those group of projects and understand and what is, let's say, the ones that bring, let's say, a better contribution.

We have that, let's say, understanding in full detail, and our plans is to bring that over the next calls. I would like to bring in details all that breakdown utilization, which I think that can also be translated as a competitive advantage in front of our clients, because to go in front of our clients and say and show that we have all those KPIs, that is definitely what our clients are looking for right now.

Simon, be patient for Q3, please.

All right, I will. Okay.

Thank you very much. As a reminder, are you still on stage, Simon?

Are your questions answered? Very good.

Just as a reminder, if you want to ask a question, please use the raise-hand feature of this call. Waiting for some seconds if something happens.

This seems not to be the case, thank you very much. As there are no further questions, we will bring today's call to a close.

Thank you all for your time, your questions, and your continued interest in GFT. Should you have any follow-up questions, please do not hesitate to contact the IR team as usual.

We wish you a pleasant day and look forward to speaking with many of you again over the coming weeks and months. Goodbye.