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Investor Relations
Allgeier SE: Allgeier achieves double-digit growth in total operating revenue in Q1 2015

05/05/2015

Munich, May 4, 2015 – Allgeier SE (ISIN DE0005086300, WKN 508630) reports both growth in its total operating revenue, and a fall in earnings as expected as part of its planning, according to preliminary figures for the first three months of its 2015 financial year (January 1, 2015 to March 31, 2015).

Preliminary total operating revenue generated across the entire Group during the first quarter of 2015 grew by 10 percent compared with the first three months of 2014 to reach EUR 114.1 million (prior-year continuing operations: EUR 103.3 million). By contrast, preliminary operating EBITDA (before extraordinary items and effects unrelated to the reporting period) registered a year-on-year fall of 19 percent to EUR 4.4 million (prior-year continuing operations: EUR 5.4 million). investments in the business areas in the IT Solutions division that were acquired in the second half of 2014 burdened EBITDA to the tune of EUR -0.8 million in the first quarter, as planned. Preliminary EBITDA including extraordinary items and effects unrelated to the reporting period amounted to EUR 2.7 million (previous year: EUR 5.5 million), chiefly reflecting significantly higher extraordinary items of EUR -1.7 million (previous year: EUR 0.1 million), which were especially due to the impact of currency fluctuations on balance sheet items measured on the reporting date. Preliminary EBIT (earnings before interest and tax) of EUR -0.5 million were negative accordingly (previous year: EUR 2.6 million).

Group revenue growth in the first quarter was slightly higher below the line than planned. Operating EBITDA (before extraordinary items and effects unrelated to the reporting period) lay more than 20 percent above planning for the first quarter despite the year-on-year decline. This level of extraordinary items was not planned. Due to operating earnings exceeding budget, reported EBITDA nevertheless reached the planning level.

Outlook for Q2 2015

On the basis of its planning, the Management Board expects double-digit year-on-year revenue growth for the second quarter of 2015. In contrast to the first quarter, where a fall in earnings formed part of planning, operating EBITDA (before extraordinary items and effects unrelated to the reporting period) should grow at a double-digit rate in the second quarter of 2015, according to Group planning.

Key balance sheet financials

Preliminary equity rose to EUR 105.4 million as of March 31, 2015 (December 31, 2014: EUR 100.7 million), with this growth being mainly due to the effects of currency translation on equity. The Allgeier Group had liquid assets of EUR 85.2 million (on the basis of preliminary figures) available as of the balance sheet date (December 31, 2014: EUR 98.0 million). This fall is chiefly attributable to the scheduled repayment of financial liabilities in an amount of EUR 11.5 million. Current and non-current financial liabilities have reduced accordingly to EUR 115.5 million as of March 31, 2015 (December 31, 2014: EUR 125.2 million). Preliminary total assets stood at EUR 340.0 million as of March 31, 2015 (December 31, 2014: EUR 329.8 million).

All of the aforementioned IFRS figures are preliminary. The interim report of Allgeier SE as of March 31, 2015 will be published on Friday, May 15, 2015, when it can be viewed at www.allgeier.com.