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Investor Relations
Allgeier SE: Allgeier achieves double-digit growth in the software and IT services business in the 2023 financial year


ALLGEIER SE / Key word(s): Preliminary Results/Annual Results
Allgeier SE: Allgeier achieves double-digit growth in the software and IT services business in the 2023 financial year

07-March-2024 / 11:14 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Munich, March 07, 2024 – Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) further continued the transformation of the Group in the 2023 financial year (January 1, 2023 – December 31, 2023) and, according to preliminary figures, achieved the result announced in November 2023. At EUR 496 million, total operating performance was slightly above the previous year’s level. The composition of the various business areas has changed further. The software and IT services business fields achieved significant sales growth of more than 20% and an adjusted EBITDA margin of 19% before holding costs in the reporting year. Sales in the personnel services and personnel services-related project business were reduced by 21% in the reporting year as part of the ongoing transformation.

Business performance of continuing operations for the full year 2023

The Allgeier Group generated total operating performance of EUR 496 million in the 2023 financial year (previous year: EUR 486 million). The software and IT services business accounted for EUR 326 million (previous year: EUR 270 million) and the personnel services and personnel services-related project business for EUR 170 million (previous year: EUR 216 million). The Group’s gross profit (defined as total operating performance less sales and personnel costs directly attributable to sales) rose disproportionately by 4% to EUR 164 million (previous year: EUR 157 million), corresponding to a gross margin of 33% (previous year: 32%). Adjusted EBITDA (EBITDA before effects that are classified as extraordinary or relating to other accounting periods) was unchanged from the previous year at EUR 61 million. The Group’s EBITDA was burdened by extraordinary expenses from the transformation and therefore amounted to EUR 58 million (previous year: EUR 62 million). Allgeier thus achieved EBIT of EUR 32 million (previous year: EUR 35 million). The main effect of the measures already implemented to reduce costs in the personnel services and personnel services-related project business will be seen in the 2024 financial year.

Key balance sheet data as at December 31, 2023

The Allgeier Group had cash and cash equivalents of EUR 83 million at the end of the 2023 financial year (previous year: EUR 87 million). Current and non-current financial liabilities amounted to EUR 154 million as at the reporting date (previous year: EUR 150 million). Net financial liabilities increased to EUR 117 million as at the reporting date (previous year: EUR 106 million), including liabilities from rental and lease agreements of EUR 46 million (previous year: EUR 43 million) to be recognized in accordance with IFRS 16. Total assets amounted to EUR 523 million (previous year: EUR 512 million).

Confirmation of the 2024 guidance

Allgeier SE today confirms as of today the guidance for the financial year 2024, which was published in the ad hoc announcement of December 14, 2023. This envisages sales in the range of EUR 510 million to EUR 550 million in the current financial year 2024. The expected adjusted EBITDA for 2024 is between EUR 63 million and EUR 69 million. The corresponding adjusted EBITDA margin is expected to be between 12% and 13%. In the medium term, the Management Board expects average organic sales growth of 10% to 15% over the next three years. The adjusted EBITDA margin is expected to increase further to 15% within this period.


The 2023 Annual Report of Allgeier SE will be published on April 30, 2024 and can then be viewed at

All business figures for the 2023 financial year are preliminary and have not yet been conclusively audited by the Group auditor. Figures for periods after December 31, 2023 represent expectations of the Management Board based on assumptions and estimates. Actual future developments and actual future results may deviate from these assumptions and estimates. Allgeier SE provides no guarantee and assumes no liability that future developments and the actual results achieved in the future will correspond to the assumptions and estimates expressed in this ad hoc announcement.

This document contains supplementary financial key figures – not precisely defined in relevant accounting frameworks – which are or may be so-called alternative performance measures. These supplementary financial measures may be of limited use as an analytical tool and should not be used in isolation or as an alternative to the financial measures presented in the consolidated financial statements and determined in accordance with relevant accounting frameworks in assessing the financial position, financial performance and cash flows of Allgeier SE. Other companies that present or report alternative performance measures with a similar title may calculate them differently and therefore they may not be comparable. For more information on the alternative performance measures used by Allgeier SE, please refer to the Annual Report 2022.


Allgeier SE

Corporate Communications & Investor Relations
Dr. Christopher Große
Einsteinstrasse 172
81677 Munich
Tel.: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11

Allgeier SE is one of Germany’s leading technology companies for digital transformation: The fast-growing group guides its clients through the challenges of digital transformation to ensure their future success. Allgeier has a broad and stable customer base of global corporations, high-performing medium-sized companies and public sector clients at all federal levels. To its more than 2,000 customers, Allgeier offers a fully comprehensive software and IT services portfolio ranging from high-end software development to business efficiency solutions to support the digitization and transformation of business-critical processes. In doing so, Allgeier achieves breakthroughs towards new digital business models, defines strategic priorities and implements groundbreaking software and IT services projects with high flexibility and scalability to shape agile and intelligent organizations for the digital age. The two group segments Enterprise IT and mgm technology partners employ more than 3,500 salaried staff at a total of 44 locations worldwide in the DACH region, France, Spain, Portugal, Poland and Czechia, as well as in India, Vietnam and the USA. In the 2023 financial year, Allgeier generated total operating performance of EUR 496 million in continuing operations according to preliminary and as yet unaudited figures. According to the Lünendonk® List 2023, Allgeier is one of the leading IT service companies in Germany. Allgeier SE is listed on the Regulated Market of the Frankfurt Stock Exchange in the General Standard (WKN A2GS63, ISIN DE000A2GS633). Further information at:

End of Inside Information