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Publication of inside information pursuant to Art. 17 MAR
Munich, October 26, 2017 – According to preliminary figures, Munich-based Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) reports double-digit growth in its total operating revenue in the first nine months of the financial year 2017 (January 1, 2017 – September 30, 2017). The extensive investments in growth that burdened the first half of 2017 began to pay off in the third quarter of 2017. Allgeier therefore delivered a result in the third quarter of 2017 that was again considerably higher than in the quarters of the first half year, in line with planning.
Business trends in the third quarter of 2017
In the third quarter of 2017 (July 1, 2017 – September 30, 2017), the Group reported an increase in total operating revenues of 16 percent to EUR 147 million compared with the year-earlier period (previous year: EUR 126 million; all year-earlier figures pertain to continuing operations). Adjusted consolidated EBITDA (EBITDA before effects qualified as extraordinary in operating terms or relating to other accounting periods) amounted to EUR 10.2 million, reflecting growth of 8 percent compared with the previous year’s period (EUR 9.5 million). Consolidated EBITDA came in at EUR 10.0 million, up 9 percent compared with the third quarter of 2016 (EUR 9.2 million). Consolidated EBIT (earnings before interest and tax) stood at EUR 7.0 million (previous year: (EUR 6.7 million).
Business trends in the first nine months of 2017
Overall, the Group’s total operating revenue climbed by 15 percent to EUR 423 million in the first nine months of 2017 compared with same period in 2016 (EUR 367 million).
According to the preliminary figures, value added (total operating performance minus direct personnel and other costs) rose 16 percent in the first nine months of 2017. As described in the adhoc announcement of August 8, 2017, the earnings position was impacted by extensive investments in the first half of 2017. The third quarter saw the earnings position begin to return to normal levels again on the back of revenue growth.
Adjusted consolidated EBITDA (EBITDA before effects qualified as extraordinary in operating terms or relating to other accounting periods) amounted to EUR 19.7 million in the period under review (previous year: EUR 24.8 million). Consolidated EBITDA stood at EUR 20.1 million (previous year: EUR 22.6 million). Consolidated EBIT (earnings before interest and tax) stood at EUR 10.9 million (previous year: EUR 14.8 million).
Key balance sheet financials as of September 30, 2017
Equity stood at EUR 124.2 million as of the reporting date on September 30, 2017 (December 31, 2016: EUR 116.9 million). The Allgeier Group had liquid assets of EUR 56.2 million at its disposal as of the reporting date (December 31, 2016: EUR 71.8 million). The balance sheet total amounted to EUR 348.3 million (previous year: EUR 344.4 million).
All of the aforementioned figures are determined in accordance with IFRS and represent a preliminary status that may change in the period leading up to the release of the interim report. All information on the previous year pertains to continuing operations. A voluntary interim report of Allgeier SE as of September 30, 2017 will be published on November 17, 2017 and can then be viewed on the company’s website at www.allgeier.com.