Investor Relations

    For any additional information please contact us directly:

    Allgeier SE

    Dr. Christopher Große
    Marion Genais
    Einsteinstrasse 172
    D-81677 Munich
    Tel.: +49 89 998421-0
    Fax: +49 89 998421-11

Investor Relations
Allgeier SE: Allgeier reports double-digit revenue growth in H1 2017 and results affected by investments


ALLGEIER SE / Key word(s): Half Year Results

10-Aug-2017 / 10:25 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
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


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

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: