Special announcement - Gloster wins high-value development contract

Special INFORMATION
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Gloster Infocommunications Public Limited Company (company registration number: 13-10-042012; registered office: 2142 Nagytarcsa, Csonka János Street 1/A, Building A/2; hereinafter: the Company, Gloster) hereby informs its esteemed investors of the following in accordance with applicable laws, in particular Act CXX of 2001 on the Capital Market (“Tpt.”) and the General Rules of the Budapest Stock Exchange.

Gloster Has Been Awarded a Major Development Contract

Gloster has secured another major contract from Sony Music Entertainment, one of the leading players in the international music industry. The two-year contract is worth 2.5 billion forints, further strengthening Gloster’s position in the international market.

As part of the contract, Gloster P92 Informatikai Kft. was commissioned to further develop three specialized software development projects, with the goal of ensuring that the systems used by Sony Music continue to meet the ever-changing needs and technological challenges of the music industry. The projects are expected to bring about significant efficiency gains in the development of digital music platforms, providing a faster and more intuitive user experience.

The successful partnership between Gloster and Sony Music has been ongoing for several years, and this latest project once again demonstrates Gloster’s innovative capabilities and reliability in the field of technological solutions. The applications developed for Sony Music are built on state-of-the-art technologies, ensuring that the needs of the ever-growing user base are met.

For the Company, this contract represents a significant step forward not only from a financial perspective but also provides a further opportunity to strengthen Gloster’s international reputation. The contract’s impact on sales will contribute significantly to achieving the growth targets set for 2026. Gloster will carry out the contract with its own team.

Among Gloster’s most recent international successes, it is worth noting that on June 19, 2024, the company was awarded a 15-million-euro project by BMW, which further expanded its international presence.

ERSTE Investment Ltd. is tracking Gloster shares, with a target price of 1,183 HUF and a “buy” recommendation.

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About Gloster

Gloster is a broad-spectrum international IT service provider listed in the BSE’s Standard category. Over the course of its more than 20-year history, it has evolved from a hardware-focused garage startup into a software-focused international mid-sized company. Thanks to Gloster’s aggressive growth strategy, it has completed eleven transactions since 2018 and expanded its operations into the areas of systems integration, cloud solutions, and international software development services. The group currently employs a team of nearly 350 people; according to its audited consolidated financial statements for 2023, its revenue was 10.3 billion forints, its adjusted EBITDA was 976 million forints, and its net income was 414 million forints.

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Nagytarcsa, September 12, 2024

Gloster Infocommunications Plc.

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Further information:

Dr. Adrienn Karlovich-Szabó

investor relations officer

karlovich.szabo.adrienn@gloster.hu