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Investor Relations
Allgeier SE: Forecast for 2017 and guidance for 2018


Publication of inside information pursuant to Art. 17 MAR

Munich, December 18, 2017 – The Management Board of Allgeier SE (ISIN DE000A2GS633, WKN A2GS63), Munich, has today approved its Group planning for 2018 and prepared a forecast for the 2017 year-end based on preliminary consolidated figures for November 2017, which have been available since today.

In the 2016 Annual Report, the Management Board issued the following forecast for 2017 for the Group’s individual divisions: the Solutions area (renamed Enterprise Services) is expected grow its revenue between 60 and 70% and achieve a 4% EBITDA margin; the Experts area is anticipated to report 4 to 5% revenue growth and generate a 3% EBITDA margin; the Technology area is expected to achieve 14% revenue growth and an EBITDA margin between 10 and 15%.

In terms of the current forecast for the full 2017 year, the specified targets are achieved as follows:

  • The Enterprise Services business area will prospectively report revenue growth of more than 100% in the 2017 financial year, generating an approximately 5% EBITDA margin; the EBITDA margin will amount to almost 7% before extraordinary costs incurred in establishing the SAP business.
  • The Experts business area will prospectively report slightly more than 2% revenue growth in 2017. Following a revenue reduction during the first half of 2017, chiefly reflecting the loss of one client as well as the division’s reorganisation, the growth rate in the second half of the year will amount to 7% year-on-year. The EBITDA margin for the full year will amount to slightly more than 2% and is burdened by the planned costs of reorganising the division and hiring in line with investment in future growth.
  • The Technology business area will prospectively report approximately 10% revenue growth and an EBITDA margin in excess of 12%. Both revenue and earnings in 2017 are affected by the change in the exchange rates between the euro the US dollar as well as the Indian rupee over the course of the year.

For the full 2017 year, the Management Board expects growth in consolidated total operating revenue of 15%, and value creation up 14%. The EBITDA margin will prospectively amount to 4.6%, and to around 4.9% before extraordinary costs and expenses relating to other accounting periods. As a consequence, the company expects total operating revenue of around EUR 582 million and EBITDA of EUR 26.6 million, or EBITDA of EUR 28.6 million before extraordinary costs and expenses relating to other accounting periods.

The planning for the 2018 financial year reflects a continuation of the positive trend during the second half of 2017:

  • With the inclusion of the newly established SAP business for the full financial year, the Enterprise Services business area anticipates continued 19% year-on-year revenue growth in 2018 and an EBITDA margin of almost 8%. The target margin for the coming years amounts to in excess of 10%.
  • The Experts business area plans 22% revenue growth in 2018 with an EBITDA margin of 4%. The target margin for the coming years amounts to more than 5%.
  • The Technology business area plans 13% revenue growth for the 2018 financial year with an EBITDA margin between 12 and 13%. The target margin for the coming years amounts to in excess of 15%.

Overall, the planning for 2018 for the Group generates planned revenue growth of 19% and an EBITDA margin between 6 and 6.5%. This signifies planned revenue EUR 685 million and budgeted EBITDA of around EUR 43 million.

This planning relates exclusively to organic Group growth. Acquisitions in the individual business areas can make an additional contribution to growth.


Please note that all of the aforementioned figures for 2017 represent expectations on the part of the Management Board, and are provisional as a consequence. All forward-looking statements relating to planning are based on assumptions and estimates made by the Group Management Board. Although the Management Board is of the opinion that such assumptions and estimates are appropriate, future actual developments and future actual results can differ considerably from such assumptions and estimates due to various factors. Examples of such factors include changes in the macroeconomic situation, exchange rates, interest rates as well as changes within market trends and competitive situations. Allgeier SE assumes no warranty and no liability for future developments and for results actually achieved in the future being consistent with the assumptions and estimates expressed in this ad hoc statement.