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Investor Relations
Allgeier SE: Following a strong second quarter, Allgeier achieves double-digit total operating revenue growth in H1 2015 in its continuing operations

08/04/2015

Munich, August 4, 2015 – During the first six months of its 2015 financial year (January 1, 2015 to June 30, 2015), Allgeier SE (ISIN DE0005086300, WKN 508630) reports double-digit growth in total operating revenue from continuing operations, according to preliminary figures. Following first-quarter earnings that were still down year-on-year (ad hoc announcement of May 4, 2015), Allgeier achieved significant double-digit earnings growth during the second quarter of the year. Operating earnings (before extraordinary items and effects relating to other accounting periods) for the first half of 2015 thereby achieve an overall level above the corresponding previous-year result.

Q2 2015 business trends

The Group reported significant revenue and earnings growth in the second quarter of 2015 (April 1, 2015 – June 30, 2015). Revenue as reported on a preliminary basis was up by 20 percent year-on-year to EUR 121 million (prior-year continuing operations: EUR 101 million). Preliminary operating EBITDA (before extraordinary items and effects relating to other accounting periods) of EUR 8.0 million was more than 30 percent ahead of the previous year’s result (previous-year continuing operations: EUR 6.1 million). Preliminary consolidated EBITDA amounted to EUR 7.5 million for the second quarter, thereby 36 percent above the equivalent figure for the previous-year period (prior-year period continuing operations: EUR 5.5 million). Preliminary consolidated EBIT (earnings before interest and tax) of EUR 3.7 million reflect 54 percent year-on-year growth (previous-year period continuing operations: EUR 2.4 million).

H1 2015 business trends

In sum, preliminary total operating revenue generated across the Group during the first half of 2015 grew by 16 percent compared with the first six months of 2014, to reach EUR 239 million (prior-year continuing operations: EUR 206 million). Preliminary operating EBITDA (before extraordinary items and effects related to other reporting periods) reported year-on-year growth of 5 percent to EUR 12.1 million (prior-year continuing operations: EUR 11.5 million). Preliminary consolidated EBITDA, including extraordinary items and effects relating to other accounting periods, amounted to EUR 10.1 million (prior-year continuing operations: EUR 11.0 million). Preliminary consolidated EBIT (earnings before interest and tax) for the period stood at EUR 3.2 million, also down year-on-year (prior-year continuing operations: EUR 5.0 million). This was mainly due to a higher level of depreciation and amortization charges arising from the first-time inclusion of the companies acquired during the reporting half-year, as well as investments in high-growth business operations at the sites in India.

Outlook for H2 2015

On the basis of its planning, the Management Board expects the year-on-year growth to continue during the second half of 2015. Revenue is set to increase by more than 20 percent during the second six months of 2015, according to Group planning. Group operating EBITDA (before extraordinary items and effects relating to other accounting periods) should grow at a disproportionately faster pace than the rate of revenue growth during the second half of 2015, according to planning.

Key balance sheet financials as of June 30, 2015

Preliminary equity rose to EUR 105 million as of June 30, 2015 (December 31, 2014: EUR 100.7 million). The Allgeier Group had liquid assets available of EUR 54 million (on the basis of preliminary figures) as of the balance sheet date (December 31, 2014: EUR 98.0 million). Above and beyond operating cash flows, this change chiefly reflects cash flows due to acquisition activities, the repayment of financial liabilities, earn-out payments that have been made, and the dividend distribution. Preliminary total assets stood at EUR 331 million as of June 30, 2015 (December 31, 2014: EUR 329.8 million).

All of the aforementioned IFRS figures are preliminary. The interim report of Allgeier SE for the first half of 2015 will be published on August 14, 2015, when it can be viewed at www.allgeier.com.