11/07/2023

Publication of inside information pursuant to Article 17 MAR

Munich, November 07, 2023 – Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) achieved revenue growth of 4 percent in the first nine months of 2023 (January 1, 2023 – September 30, 2023) compared to the first nine months of the previous year according to preliminary figures and increased its gross profit disproportionately by 9 percent. The fast-growing Software and IT Services business units achieved significant sales growth of more than 20 percent. The personnel services business is bundled in an integrated business unit in order to develop it further as a separate business unit. Allgeier is thus continuing the transformation of its business towards higher added value.

Business performance in the first nine months of 2023

In total, Allgeier Group’s revenue rose by 4% to EUR 363 million in the first nine months of 2023 compared to the first nine months of the previous year (previous year: EUR 351 million). Of this amount, EUR 248 million (previous year: EUR 203 million) were attributable to the software and IT services business and EUR 115 million (previous year: EUR 148 million) to the personnel services business. Gross profit (defined as total operating performance less cost of sales and personnel expenses directly attributable to sales) increased by 9% to EUR 121 million in this period (previous year: EUR 111 million), corresponding to a gross margin of 33% (previous year: 31%). Adjusted EBITDA decreased by 3% to EUR 40 million (previous year: EUR 41 million). The cost-cutting measures already adopted will have a significant impact in the 2024 financial year.

Guidance for the 2023 financial year

Due to the more subdued business development in the course of the first nine months and a stronger reduction in personnel services revenues compared to the original planning, Allgeier is adjusting its guidance for the 2023 financial year as follows: Allgeier SE expects revenue in the region of EUR 490 million and an adjusted EBITDA of around EUR 60 million for the Group as a whole. The software and IT services business will account for revenues of around EUR 340 million and an adjusted EBITDA before holding company costs of around EUR 62 million. The personnel services business will account for revenues of around EUR 150 million and an adjusted EBITDA before holding company costs of around EUR 5 million. Holding company costs will amount to around EUR 7 million.

Notes

Allgeier SE’s voluntary interim information as of September 30, 2023 will be published on November 14, 2023 and can then be viewed at www.allgeier.com.

All figures stated relate to continuing operations and were prepared in accordance with IFRS, are preliminary and have not been audited.

It should also be noted that disclosures for periods after September 30, 2023 represent expectations of the Management Board based on assumptions and estimates. Future actual developments and future actual results may deviate from these assumptions and estimates. Allgeier SE provides no guarantee and assumes no liability that future developments and future actual results will be consistent with 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.