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Publication of inside information pursuant to Art. 17 MAR
Munich, March 9, 2017, 18:29 h – Allgeier SE (ISIN DE0005086300, WKN 508630) reports continued revenue and EBITDA growth in the 2016 financial year (January 1, 2016 to December 31, 2016), based on preliminary results. The business unit WK EDV GmbH, Ingolstadt, which was sold in the third quarter of 2016, is reported under discontinued operations. The previous year’s figures for discontinued and continuing operations were adjusted in the income statement accordingly for reasons of comparability.
Business trends in continuing operations
Overall, preliminary consolidated revenue from continuing operations grew year-on-year to reach EUR 497.5 million in the 2016 financial year (previous year: EUR 445.7 million), representing a 12 percent growth rate. Adjusted consolidated EBITDA (EBITDA before effects that qualify operationally as extraordinary or relating to other accounting periods) from continuing operations reported a disproportionally strong year-on-year rise of 32 percent to EUR 33.8 million in the reporting period (previous year: EUR 25.6 million). Preliminary consolidated EBITDA in the continuing operations were up by 34 percent to EUR 31.6 million in the reporting period (previous year: EUR 23.5 million). Preliminary consolidated EBIT (earnings before interest and tax) in continuing operations of EUR 17.9 million in the reporting period reflect 60 percent year-on-year growth (previous year: EUR 11.2 million). The Group generated preliminary earnings before tax (EBT) from continuing operations of EUR 14.0 million (previous year: EUR 7.1 million), an increase of 97 percent compared with the previous year.
WK EDV GmbH and Talentry GmbH, Munich, are reported under discontinued operations in the 2016 financial year, and the terna Group, Innsbruck, Austria, b+m Informatik AG, Melsdorf, and the Storage division of Allgeier (Switzerland) were reported under discontinued operations in the previous year. Discontinued operations generated EUR 3.3 million of revenue in 2016 (previous year: EUR 53.2 million), and a result before tax of EUR -0.2 million (previous year: EUR 11.5 million).
Key balance sheet financials as of December 31, 2016
Preliminary equity rose to EUR 116.4 million as of the December 31, 2016 balance sheet date (previous year: EUR 115.7 million). The Allgeier Group had EUR 71.7 million of liquid assets available (on the basis of preliminary figures) as of the end of the 2016 financial year (previous year: EUR 83.7 million). Preliminary current and non-current financial liabilities amounted to EUR 109.1 million as of the reporting date (previous year: EUR 110.7 million). Preliminary total assets stood at EUR 344.0 million as of the 2016 year-end (previous year: EUR 328.0 million).
FY 2017 outlook
On the basis of its planning, the Management Board expects for the 2017 financial year a continuation of growth in the continuing operations in a double-digit range. Group operating EBITDA (before extraordinary items and effects relating to other accounting periods) from continuing operations should grow at a slightly slower pace in an order of magnitude of 10 percent. This guidance is based on investments in developing the Experts and Enterprise Services business areas that have already been realized and further such investments that are planned for 2017. The related planning figures relate exclusively to developing the existing Group without portfolio changes from acquisitions and disposals. If the acquisition of the German companies of the Ciber Group is implemented short-term (ad hoc announcement of February 3, 2017), additional revenue of around EUR 34 million is expected and – after a successful restructuring – a positive EBITDA contribution.
All of the IFRS figures for the 2016 financial year that are mentioned in this announcement are preliminary and have not yet been conclusively audited by the external auditor of the consolidated financial statements. The aforementioned previous year’s results are not comparable with those presented in the Allgeier 2015 Annual Report due to the restatement of the previous year to reflect the divested unit. Publication of the Allgeier 2016 Annual Report is planned for April 28, 2017. The statements relating to the 2017 financial year represent expectations concerning the future based on existing planning. It is not certain, however, that such expectations will materialize as expected.