Publication of inside information pursuant to Article 17 MAR
Munich, July 27, 2022 – Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) achieved revenue growth of 19 percent in the first half of 2022 (January 01, 2022 – June 30, 2022) according to preliminary figures and disproportionately increased earnings. The adjusted EBITDA margin reached 11 percent.
Business performance of continuing operations in the first half of 2022
In total, revenue from Allgeier Group’s continuing operations increased by 19 percent to EUR 228.8 million in the first six months of 2022 compared with the first half of 2021 (previous year: EUR 192.4 million). Gross profit (defined as total operating performance less cost of sales and personnel expenses directly attributable to sales) increased by 22 percent to EUR 70.3 million in this period (previous year: EUR 57.6 million). Adjusted EBITDA (earnings before depreciation, amortization and impairment losses on property, plant and equipment, interest and taxes, adjusted for extraordinary items and items relating to other periods) increased by 38 percent to EUR 24.8 million (previous year: EUR 18.0 million). EBITDA (earnings before interest, taxes, depreciation and amortization), adjusted for extraordinary items, grew by 118 percent to EUR 25.9 million in the reporting period (previous year: EUR 11.9 million). EBIT (earnings before interest and taxes) amounted to EUR 12.9 million (previous year: EUR 3.8 million), corresponding to an increase of 239 percent.
|Key Group figures*||HY1 2022||HY1 2021||Change|
|Gross profit||70.3||57.6||+ 22%|
|Adjusted EBITDA||24.8||18.0||+ 38%|
*Continuing operations according to IFRS, figures in EUR million (unless otherwise stated)
Business performance of continuing operations in the second quarter of 2022
In the second quarter of 2022 (April 01, 2022 – June 30, 2022), the Allgeier Group increased revenue from continuing operations by 19 percent year-on-year to EUR 116.7 million (previous year: EUR 97.8 million). In the same period, gross profit increased by 16 percent to EUR 33.1 million (previous year: EUR 28.5 million). Adjusted EBITDA for the second quarter of 2022 was EUR 13.5 million, 31 percent higher than in the same period of the previous year (previous year: EUR 10.3 million). EBITDA amounted to EUR 14.4 million (previous year: EUR 4.3 million), corresponding to an expansion of 235 percent compared to the same period of the previous year. EBIT rose to EUR 7.8 million (previous year: EUR 0.2 million).
Key balance sheet data as of June 30, 2022
According to preliminary figures, consolidated equity increased to EUR 168 million as of the balance sheet date June 30, 2022 (December 31, 2021: EUR 163 million). The Allgeier Group had cash and cash equivalents of EUR 69 million at the end of the second quarter of 2022 (December 31, 2021: EUR 69 million). The Group’s net financial liabilities decreased to EUR 107 million at the balance sheet date, of which EUR 43 million were liabilities from rental and lease agreements (December 31, 2021: EUR 114 million, of which EUR 45 million were liabilities from rental and lease agreements). Current and non-current financial liabilities stood at EUR 134 million at the end of the first half of 2022 (December 31, 2021: EUR 138 million). Total assets amounted to EUR 493 million as of June 30, 2022 (December 31, 2021: EUR 485 million).
Outlook for the second half of 2022
As of today, Allgeier SE confirms the guidance for the financial year 2022 published in the ad hoc announcement of December 17, 2021 as well as in the Allgeier SE Annual Report 2021.
The 2022 half-yearly financial report of Allgeier SE will be published on August 15, 2022 and can then be viewed at www.allgeier.com.
All figures stated have been prepared in accordance with IFRS, are preliminary and have not been audited.
It should also be noted that disclosures for periods after June 30, 2022 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 assumes no guarantee and no liability that future developments and actual results achieved in the future will correspond to the assumptions and estimates expressed in this ad hoc announcement.
This document contains supplementary financial measures – not precisely defined in relevant accounting frameworks – that 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 2021.