DGAP-Ad-hoc: ALLGEIER SE / Key word(s): Half Year Results
Allgeier SE: Allgeier reports double-digit revenue growth in H1 2017 and
results affected by investments
10-Aug-2017 / 10:25 CET/CEST
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The issuer is solely responsible for the content of this announcement.
_Munich, August 8, 2017 -_ For the first six months of its 2017 financial
year (January 1, 2017 to June 30, 2017), Allgeier SE (ISIN DE0005086300, WKN
508630) reports double-digit growth in its total operating revenue,
according to preliminary figures. As planned, the first-half results are
affected by extensive investments in establishing the Enterprise Services
and Experts business areas. These investments occurred mainly in significant
staff hiring and the creation of new corporate structures. The operating
result is also burdened by relatively higher production costs in the
Technology business area due to the appreciation of the Indian rupee.
Q2 2017 business trends
In the second quarter of 2017 (April 1, 2017 - June 30, 2017), the Group
reported a 13 percent year-on-year increase in total operating revenue to
EUR 142 million on the basis of preliminary results (previous year: EUR 126
million, with all prior-year figures relating to continuing operations).
Adjusted consolidated EBITDA (EBITDA before effects that qualify
operationally as extraordinary or relating to other accounting periods) of
EUR 4.8 million was below the previous year's result (previous year: EUR
10.3 million). Preliminary consolidated EBITDA for the second quarter
amounted to EUR 4.8 million (previous year: EUR 7.9 million). Preliminary
consolidated EBIT (earnings before interest and tax) stood at EUR 1.5
million (previous year: EUR 5.2 million).
H1 2017 business trends
In sum, preliminary total operating revenue generated across the Group
during the first half of 2017 rose by 14.6 percent compared with the first
six months of 2016 to reach EUR 276 million (previous year: EUR 241
million). Adjusted consolidated EBITDA (EBITDA before effects that qualify
operationally as extraordinary or relating to other accounting periods)
stood at EUR 9.5 million (previous year: EUR 15.4 million). Preliminary
consolidated EBITDA amounted to EUR 10.1 million (previous year: EUR 13.4
million). Preliminary consolidated EBIT (earnings before interest and tax)
stood at EUR 4.0 million (previous year: EUR 8.1 million).
While Group value creation (total operating revenue less direct personnel
and other costs) rose by 14.9 percent during the first half of the year,
according to preliminary figures, the result for the first half of 2017 was
reduced by considerable investments in expanding the Enterprise Services and
Experts business areas, as planned. The Enterprise Services area
significantly increased its personnel costs year-on-year during the first
half-year through hiring more than 400 staff, mainly SAP specialists. The
Experts area raised its personnel costs at a disproportionally rapid rate
year-on-year as it hired a net total of approximately 80 staff. The
Management Board regards this as a considerable investment in growth and in
future business development in the years 2018 and beyond.
Key balance sheet financials as of June 30, 2017
Equity amounted on a preliminary basis to EUR 124.0 million as of June 30,
2017 (December 31, 2016: EUR 116.9 million). The Allgeier Group had EUR 61.1
million of liquid assets available (on the basis of preliminary figures) as
of the balance sheet date (December 31, 2016: EUR 71.8 million). Preliminary
total assets stood at EUR 357.0 million as of June 30, 2017 (December 31,
2016: EUR 344.4 million).
Outlook for H2 2017
On the basis of its current planning, the Management Board expects the
double-digit year-on-year growth to continue during the second half of 2017.
According to Group planning, total operating revenue is to increase by 20
percent during the second six months of 2017, with especially the Enterprise
Services business area making a disproportionately significant contribution.
Adjusted consolidated EBITDA (EBITDA before effects that qualify
operationally as extraordinary or relating to other accounting periods) is
expected to report slight growth in the single-digit year-on-year percentage
range in the second half of 2017, according to planning.
All of the aforementioned IFRS figures are preliminary. All of the figures
for the previous year relate to the continuing operations. The interim
report for the first half of 2017 of Allgeier SE will be published on August
31, 2017, when it can be viewed at www.allgeier.com.
Contact:
Allgeier SE
Corporate Communications & Investor Relations
Dr. Christopher Grosse
Wehrlestrasse 12
81679 Munich
Tel.: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11
Email: ir@allgeier.com
Web: www.allgeier.com
Allgeier SE is one of the leading IT companies for digital transformation:
with a growth strategy oriented to innovations and future trends, as well as
an integrative business model, Allgeier exploits the opportunities that
digitalization offers. Three operating segments with individual specialist
and sector-related focus areas work together for around than 3,000 customers
from almost all business sectors. With over 6,800 salaried employees and
more than 1,300 freelance experts, Allgeier offers its customers an
extensive one-stop-shop range of solutions and services. Based on a highly
flexible delivery model, Allgeier covers the entire IT service spectrum from
on-site through to nearshore and offshore: with a strong business pillar in
India, the company secures flexibility and maximum scalability of services,
as well as highly qualified high-end software development expertise.
Allgeier customers include globally operating groups as well as innovative
medium-size business operations that aim to secure strategic advantages
through high-performance IT solutions, intelligent software and flexible
personnel services. This Munich-based, fast-growing Group maintains more
than 100 branches in the region of Germany, Austria and Switzerland, in nine
further European countries, as well as in India, Singapore, Vietnam, Mexico
and the USA. Allgeier generated EUR 498 million of revenue in its continuing
operations in 2016. Allgeier SE ranks first in the 2017 Lünendonk(R) special
analysis of "Leading German Medium-Sized IT Consultants and System
Integrators". According to the Lünendonk(R) 2017 market segment study "The
Market for Recruiting, Mediating and Managing IT Freelancers in Germany",
Allgeier Experts ranks among Germany's top three IT personnel service
providers. Allgeier SE is listed on the Regulated Market of the Frankfurt
Stock Exchange (WKN 508630, ISIN DE0005086300). For more information, visit:
www.allgeier.com.
10-Aug-2017 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: ALLGEIER SE
Wehrlestraße 12
81679 München
Germany
Phone: +49 (0) 89 - 99 84 21 0
Fax: +49 (0) 89 - 99 84 21 11
E-mail: info@allgeier.com
Internet: http://www.allgeier.com
ISIN: DE0005086300
WKN: 508630
Indices: CDAX
Listed: Regulated Market in Frankfurt (General Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart,
Tradegate Exchange
End of Announcement DGAP News Service
600441 10-Aug-2017 CET/CEST
(END) Dow Jones Newswires
August 10, 2017 04:25 ET (08:25 GMT)
