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Investor Relations
Allgeier SE: Allgeier reports significant H1 2016 revenue and earnings growth

08/03/2016

Munich, August 3, 2016, 17:44 h – During the first six months of its 2016 financial year (January 1, 2016 to June 30, 2016), Allgeier SE (ISIN DE0005086300, WKN 508630) reports double-digit growth in its total operating revenue and results from its continuing operations, according to preliminary figures. The good development of the first quarter of year has continued into the second quarter of 2016.

Q2 2016 business trends

After Allgeier had already reported double-digit revenue and earnings growth in the first quarter of 2016, the Group has continued to advance revenue and earnings at a significant rate during the second quarter of 2016 (April 1, 2016 – June 30, 2016). Total preliminary operating revenue was up 12 per cent compared with the previous year’s equivalent period to reach EUR 127 million (previous year: EUR 113 million). Adjusted consolidated Group-EBITDA (EBITDA before effects that qualify operationally as extraordinary or relating to other accounting periods) of EUR 10.1 million was up by 42 per cent compared with the previous year’s result (previous year: EUR 7.1 million). Preliminary consolidated EBITDA in continuing operations amounted to EUR 7.6 million for the second quarter, 19 per cent above the equivalent figure for the previous-year period (previous year: EUR 6.4 million). Preliminary consolidated EBIT (earnings before interest and tax) in continuing operations of EUR 4.8 million reflect 50 per cent year-on-year growth (previous year: EUR 3.2 million).

H1 2016 business trends

In sum, preliminary total operating revenue in continuing operations generated across the Group during the first half of 2016 increased by 13 per cent compared with the first six months of 2015 to reach EUR 243 million (previous year: EUR 215 million). Adjusted consolidated Group-EBITDA (EBITDA before effects that qualify operationally as extraordinary or relating to other accounting periods) reported a rise of 38 per cent to EUR 14.8 million (previous year: EUR 10.7 million). Preliminary consolidated Group-EBITDA from continuing operations of EUR 12.9 million represents 49 per cent growth compared with the previous year’s result (previous year: EUR 8.6 million). Preliminary consolidated EBIT (earnings before interest and tax) in continuing operations of EUR 7.3 million in the accounting period under review are also up significantly on the previous year (previous year: EUR 2.8 million).

Key balance sheet financials as of June 30, 2016

Preliminary equity amounted to EUR 111.8 million as of June 30, 2016 (December 31, 2015: EUR 115.7 million). The Allgeier Group had EUR 64.2 million of liquid assets available (on the basis of preliminary figures) as of the balance sheet date (December 31, 2015: EUR 83.7 million). This change is mainly due to changes in working capital and tax payments. Preliminary total assets stood at EUR 331.4 million as of June 30, 2016 (December 31, 2015: EUR 328.0 million).

Outlook for H2 2016

On the basis of its plans, the Executive Board expects the year-on-year growth to continue during the second half of 2016. Total operating revenue is set to increase by around 10 per cent during the second six months of 2016, according to Group planning. Adjusted consolidated Group-EBITDA (EBITDA before effects that qualify operationally as extraordinary or relating to other accounting periods) should continue to report a faster rate of growth in the second half 2016 than the topline growth rate, according to planning.

All of the aforementioned IFRS figures are preliminary. The Allgeier interim report for the first half of the year 2016 will be published on August 16, 2016, when it can be viewed at www.allgeier.com.