08/31/2012

ALLGEIER SE / Key word(s): Half Year Results31.08.2012 10:16Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP – a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.—————————————————————————Munich, August 31, 2012 – Munich-based Allgeier SE (ISIN DE0005086300, WKN508630), one of the leading companies in the German IT sector, grew itssales revenue further in the first half of 2012 (January 1, 2012 to June30, 2012), and exceeded the EBITDA it generated in the first half of 2011,which already stood at a good level. Consequently, the Group continued tochart its growth course in the first half of 2012.Sales revenue was up by 11.2 percent compared with the first half of 2011,to EUR 190.1 million (previous year: EUR 171.0 million). This revenuegrowth reflected operating growth at most of the companies that havebelonged to the Group for a longer period, and the corporate acquisitionsrealized in 2011 and the first quarter of 2012. EBITDA grew 12.5 percent inthe first half of 2012 to EUR 9.9 million (previous year: EUR 8.8 million).Earnings before interest, tax and amortization relating to purchase priceallocations, and from the earnings-effective adjustment of earnoutspursuant to IFRS, (EBITA) grew by 4.0 percent compared with the prior-yearperiod to EUR 7.8 million (H1 2011: EUR 7.5 million). By contrast, EBIT(earnings before interest and tax) fell 36.5 percent year-on-year to EUR3.3 million (H1 2011: EUR 5.2 million). This EBIT result reflects theimpact of acquisition activity, in particular. In accounting terms, theseacquisitions resulted in a significant rise of around EUR 2.2 million inIFRS amortization applied to purchase price allocations (in other words,amortization applied to order book positions, customer bases and products)to reach approximately EUR 4.5 million (previous year: EUR 2.3 million).The higher level of an amortization is based on the high valuation ofcustomer relationships of the companies acquired in 2011, which enjoy goodorder book positions and a large number of established customerrelationships.Between January and June 2012, the company generated EUR 7.4 million ofcash flow from operating activities before working capital changes(previous year: EUR 6.2 million). Cash flow from financing activitiesamounted to a net inflow of EUR 42.8 million in the first half of 2012(previous year: EUR 2.7 million outflow). Significant individual items incash flow from financing activities included the drawing down of aborrower’s note loan in a net amount of EUR 69.0 million, the repayment ofEUR 19.1 million of loans, and the EUR 4.2 million dividend that wasdistributed to Allgeier SE shareholders. The total assets of the AllgeierGroup grew by EUR 46.6 million, from EUR 242.1 million as of December 31,2011, to EUR 288.7 million as of June 30, 2012. The Allgeier Group reportsa high level of liquid assets as of June 30, 2012. Liquid assets were upfrom EUR 31.9 million to EUR 71.7 million, mainly due to the aforementionedfinancing transactions in the first half of 2012. The Group intends todeploy these funds for further corporate growth and the acquisition of newsubsidiaries.Allgeier SE continues to regard itself as well prepared and positioned forthe full 2012 year. Allgeier implemented a targeted expansion of itsportfolio with smaller supplementary acquisitions in the first half of2012, and further strengthened forward-looking, future relevant topics suchas Business Intelligence and ERP solutions.Following the end of the first half-year, on August 2, 2012, Allgeier SEhas reached agreement with the sole shareholder of tecops personal GmbHconcerning the purchase of all of the shares in the company, and hasconcluded corresponding agreements. With the acquisition, Allgeier isfurther expanding its portfolio of products and services, as well as itscomprehensive geographic coverage in the growth market for IT personnelservices. TECOPS commands more than 20 years of experience in theallocation and mediation of specialist staff, and currently employs 1,400employees at 12 locations. The company turned over EUR 50 million in 2010.With a look to 2012, tecops personal GmbH is planning further sustainablerevenue and earnings growth.The 2012 half-yearly report of Allgeier SE will be published today, August31, 2012, and can be viewed at www.allgeier.com.Contact:Allgeier SEDr. Christopher GrosseWehrlestrasse 1281679 MunichTel.: +49 (0)89/998421-0Fax: +49 (0)89/998421-11E-mail: ir@allgeier.comWeb: www.allgeier.comMunich-based Allgeier SE is one of the leading consulting and servicecompanies for IT solutions and services in the German-speaking region. Withmore than 2,600 employees and around 1,500 freelance IT experts, Allgeieroffers its customers a complete service approach spanning design,implementation, and through to the operation of IT landscapes. Fifteencorporate units, each with its own specialist and sector-related focus,work together for more than 2,000 customers from almost all sectors.Allgeier combines the service-orientation, proximity to customers, andflexibility of powerful medium-sized company units with the product width,size and process strength of an international group. This high-growthcompany currently operates at more than 80 sites in the German-speakingregion, and at further locations in the rest of Europe, as well as inIndia, Mexico and the USA. Allgeier generated EUR 379 million of revenue in2011. The company is listed on the regular market of the Frankfurt StockExchange in the General Standard segment (WKN 508630 / ISIN DE0005086300).Further information is available on the company’s website at:www.allgeier.com.31.08.2012 DGAP’s Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de————————————————————————— Language: EnglishCompany: ALLGEIER SE Wehrlestraße 12 81679 München GermanyPhone: +49 (0) 89 – 99 84 21 0Fax: +49 (0) 89 – 99 84 21 11E-mail: info@allgeier.comInternet: http://www.allgeier.comISIN: DE0005086300WKN: 508630Indices: CDAXListed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of Announcement DGAP News-Service —————————————————————————