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ALLGEIER SE / Key word(s): Forecast
09-Dec-2019 / 19:15 CET/CEST
Munich, December 9, 2019 – The Management Board of Allgeier SE (ISIN DE000A2GS633, WKN A2GS63), Munich, today approved the Group planning for the year 2020 and prepared a forecast for the end of 2019 on the basis of the preliminary Group figures as of October 2019.
In the current forecast for the 2019 financial year, the Management Board anticipates sales of between EUR 770 and 790 million; this corresponds to growth of 12 to 15 percent compared with the previous year. Due to the restructuring of the Allgeier Experts division in fiscal year 2019 and the associated discontinuation of low-margin sales, expected sales will be lower than originally forecast for the Group as a whole. However, the Management Board expects this to result in a disproportionately high increase in adjusted EBITDA (EBITDA before effects that qualify as extraordinary or non-periodic) to between 64 and 69 million euros; this corresponds to an increase of 18 to 21 percent over the previous year. The expected adjusted EBITDA margin is 8.3 to 8.7 percent.
The planning approved today by the Supervisory Board for the 2020 financial year envisages sales in the range of EUR 820 to 840 million for the Group as a whole, corresponding to sales growth of between 6 and 8 percent. The background is a further planned significant reduction of business with low margins in the Allgeier Experts segment. The adjusted EBITDA margin for the Group as a whole is expected to increase to between 11 and 12 percent, which corresponds to adjusted EBITDA of between EUR 90 and 100 million.
The aforementioned target figures refer to the organic growth of the Group. Future acquisitions in the individual divisions can make an additional contribution to growth.
All figures stated for 2019 and 2020 were prepared in accordance with IFRS, applying the IFRS 16 standard effective from 2019. The comparative figures for 2018 have been restated retrospectively to IFRS 16 for comparability purposes. It should also be noted that all figures for 2019 and 2020 are expectations of the Executive Board based on assumptions and estimates. Even if the Executive Board is of the opinion that these assumptions and estimates are correct, future actual developments and future actual results may differ from these assumptions and estimates. Allgeier SE does not warrant or assume any liability that future developments and future actual results will be consistent with the assumptions and estimates expressed in this ad hoc announcement.
Allgeier SE is one of the leading technology companies for digital transformation: Allgeier guides its customers through the challenges of digital transformation to ensure their future success. Allgeier achieves breakthroughs towards new digital business models, defines strategic priorities and implements groundbreaking projects with high flexibility and traction for global corporations as well as market and industry leaders from numerous industries and markets in order to design agile and intelligent organizations for the digital age. With more than 10,000 employees and over 1,000 freelance experts, Allgeier’s highly flexible delivery model covers the entire IT service spectrum from onsite to nearshore to offshore – with strong footholds in India, China, Vietnam and Eastern Europe. The fast-growing group, headquartered in Munich, has more than 140 branches in 28 countries on five continents worldwide. In the 2018 financial year, Allgeier generated sales of EUR 687 million from continuing operations with more than 2,000 customers. According to the Lünendonk(R) List 2019, Allgeier is one of the ten leading IT consulting and system integration companies in Germany. Allgeier Experts ranks among the TOP 3 IT personnel service providers in Germany according to Lünendonk(R) Market Segment Study 2019 “The Market for Recruiting, Placement and Management of IT Freelancers in Germany”. Allgeier SE is listed in the General Standard of the Regulated Market of the Frankfurt Stock Exchange (WKN A2GS63, ISIN DE000A2GS633). Further information can be found at: www.allgeier.com.