11/08/2013

ALLGEIER SE / Key word(s): Quarter Results

08.11.2013 16:19

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP – a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Munich, November 07, 2013 – According to preliminary results, Allgeier SE
(ISIN DE0005086300, WKN 508630) continued to boost both its revenue and
earnings during the first nine months of the 2013 financial year (January
1, 2013 to September 30, 2013). Consequently, Allgeier continued to chart a
growth course and further bolstered its competitive position.

Revenue during the first nine months of 2013 advanced to EUR 349.5 million,
up 17 percent compared with the comparable period of 2012 (previous year:
EUR 297.8 million). Both the revenue contribution from corporate
acquisitions realised during the years under review and operating growth
drove this revenue growth.

EBITDA increased by 33 percent year-on-year to reach EUR 21.4 million
(previous year: EUR 16.1 million). EBIT during the period under review was
up by 96 percent to EUR 12.4 million as a result of a decrease in
amortisation charges arising from purchase price allocation is (previous
year: EUR 6.3 million). At the same time, the EBIT earnings figure
continued to be impacted by the amortisation charges applied to IFRS
purchase price allocations (amortisation of order book positions, customer
bases and products), which comprise most of the amortisation and
depreciation of EUR 9.0 million (previous year: EUR 9.8 million).

Interest expenses of EUR 3.9 million remained at the level in the
comparable prior-year period. A significant proportion of these interest
expenses relate to the borrower’s note loan that was taken out in March
2012, and the reversal of discounts applied in previous periods to earn-out
liabilities. After interest, Allgeier reported a 215 percent increase in
EBT (earnings before tax) to EUR 8.8 million in the first nine months of
2013 (previous year: EUR 2.8 million). After deducting EUR 3.3 million of
tax expenses (previous year: EUR 1.2 million), and an item amounting to EUR
0.2 million connected with the disposal of Allgeier DL (previous year: EUR
0.0 million), Allgeier consequently achieved EUR 5.3 million of net income
during the first three quarters of 2013 (previous year: EUR 1.6 million).
Final agreement and invoicing for the disposal in 2008 of Allgeier DL
occurred during the third quarter of the year, with its preliminary
accounting having already occurred as of December 31, 2012.

Basic earnings per share, calculated on the basis of the nine-month
earnings reduced to reflect the share of earnings attributable to
non-controlling shareholders, rose to EUR 0.60 (previous year: EUR 0.15).
Cash flow from operating activities and before working capital changes grew
by 21 percent to EUR 15.3 million in the period under review (previous
year: EUR 12.6 million).

The Group continued its revenue and earnings growth during the third
quarter of 2013 (July 1, 2013 – September 30, 2013). Revenue advanced by 13
percent year-on-year to EUR 122.2 million (Q3 2012: EUR 107.7 million).
EBITDA rose 48 percent to EUR 9.1 million (Q3 2012: EUR 6.1 million). EBIT
increased by 106 percent compared with the same period of 2012 to reach EUR
6.1 million (Q3 2012: EUR 3.0 million).

The Allgeier Group enjoys solid financing and net asset positions as of the
balance sheet date. The total assets of the Allgeier Group were down by EUR
12.7 million, from EUR 289.6 million on December 31, 2012 to EUR 276.9
million on September 30, 2013. This primarily reflects both the decline in
non-current assets due to amortisation arising from purchase price
allocation, which was not offset by any significant additions during the
first nine months of 2013, and the decrease in current assets due to
outgoing payments as part of acquisition activities and dividends. The
translation of the net assets of Group companies that account in foreign
currencies also contributed to the reduction in total assets.

Equity amounted to EUR 87.8 million as of the September 30, 2013 reporting
date (December 31, 2012: EUR 93.4 million). This decline is attributable to
the distribution of the dividend to the shareholders of Allgeier SE, the
acquisition of shares of non-controlling shareholders, effects on equity
carried directly to equity, and the addition of treasury shares. This was
offset by the earnings for the first three quarters of 2013.

All of the aforementioned IFRS figures are preliminary. The interim report
for the third quarter of 2013 of Allgeier SE will be published on November
14, 2013, and can then 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
E-mail: ir@allgeier.com
Web: www.allgeier.com

Allgeier SE is one of the leading IT companies for Business Performance
today: Allgeier combines the advantages of an international provider with
the merits of medium-sized companies with a growth strategy oriented
consistently to innovations and future trends, and an integrative business
model. Six operating divisions, each with their individual specialist or
sector-related focal points, work together for more than 2,000 customers
from almost all sectors. With more than 4,400 salaried employees and over
1,300 freelance IT experts, Allgeier, as a one-stop shop, offers customers
a comprehensive portfolio of solutions and services. Allgeier’s customers
include globally operating groups as well as innovative medium-sized
operations that wish to secure strategic advantages through high-performing
IT solutions, intelligent software and flexible personnel services. This
high-growth company, which is based in Munich, Germany, operates at more
than 90 sites in the German-speaking region, and at further locations in
the rest of Europe, as well as in India, Mexico and the USA. Allgeier
generated EUR 423 million of revenue in 2012. Allgeier SE was ranked first
in the Lünendonk(R) List 2013 of ‘Leading German medium-sized IT consulting
and system integration companies’. The Allgeier Experts Division ranks
among the top three IT personnel service-providers in Germany according to
the Lünendonk(R) 2013 market segment study ‘The market for recruiting,
mediating and managing IT freelancers in Germany’. The company is listed on
the regular market of the Frankfurt Stock Exchange in the General Standard
segment (WKN 508630 / ISIN DE0005086300). Further information is available
on the company’s website at: www.allgeier.com.

08.11.2013 DGAP’s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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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: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart

End of Announcement DGAP News-Service

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