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Investor Relations
Allgeier SE: Allgeier reports nine-month results

11/06/2014

Munich, November 6, 2014 – Allgeier SE (ISIN DE0005086300, WKN 508630) is reporting a slight increase in its revenues during the first nine months of the 2014 financial year (January 1, 2014 – September 30, 2014) due to the sales trend during the third quarter of the year, following on from the stagnation during the first half of the year. These figures have been prepared on a preliminary basis. Preliminary EBITDA was down year-on-year, however. The figures as of September 30, 2014 are affected by a further change to the scope of consolidation: on October 30, 2014, Allgeier divested a further part of its business – its Allgeier Benelux area (Allgeier N.V., Belgium, Allgeier Computer BV, Netherlands, Allgeier S.A., Luxembourg, Allgeier Ltd., Cyprus, and ALLGEIER LİMİTED, Turkey) – reporting this division as part of discontinued operations in its nine-month figures.

Preliminary consolidated revenue from the continuing operations of EUR 309.5 million during the first three quarters of 2014 represents slight growth compared with the first nine months of 2013 (continuing operations previous year: EUR 303.9 million). Preliminary EBITDA of EUR 19.3 million from the continuing operations were below those in the equivalent period of the previous year (continuing operations previous year: EUR 21.3 million). Preliminary EBIT (earnings before interest and tax) amounted to EUR 10.2 million from the continuing operations (continuing operations previous year: EUR 13.1 million). The corresponding preliminary EBT (earnings before tax) stood at EUR 8.1 million (continuing operations previous year: EUR 9.7 million). After deducting EUR 3.1 million of tax expenses (continuing operations prior-year: EUR 3.2 million), Allgeier generated EUR 5.1 million of preliminary profit after tax from its continuing operations during the first nine months of 2014 (continuing operations previous year: EUR 6.5 million). Due to the gain arising from the disposal that occurred before the September 30, 2014 reporting date, the overall Group reported a preliminary net profit of EUR 6.0 million, reflecting an increase compared with the previous year’s EUR 5.3 million.

The complete deconsolidation of the business that is reported as discontinued operations in the nine-month figures will occur prospectively as of October 31, 2014.

In the third quarter of 2014 (July 1, 2014 – September 30, 2014), the Group companies of Allgeier SE grew their preliminary revenue in the continuing operations to EUR 109.6 million (continuing operations prior year: EUR 103.8 million). Preliminary EBITDA from continuing operations stood at EUR 8.1 million (continuing operations previous year: EUR 8.8 million). Accordingly, preliminary EBIT from continuing operations amounted to EUR 4.9 million (continuing operations prior year: EUR 6.2 million).

On the basis of the preliminary nine-month figures, total assets of EUR 282.3 million as of September 30, 2014, reflected a slight reduction compared with the end of 2013 (December 31, 2013: EUR 289.3 million). This fall in total assets compared with December 31, 2013 is attributable primarily to seasonal and reporting date-related fluctuations in working capital, the payment of the dividend on the profit for the 2013 financial year to the shareholders of Allgeier SE in the second quarter, and the cash outflows that occurred as part of acquisition activity during the first three quarters of 2014.

The Allgeier Group held liquid assets of EUR 33.7 million (on the basis of preliminary figures) as of the balance sheet date (December 31, 2013: EUR 50.3 million). Preliminary current and non-current financial liabilities have increased to EUR 81.6 million as of September 30, 2014 (December 31, 2013: EUR 75.5 million). Preliminary consolidated equity rose to EUR 101.3 million as of the end of the third quarter of 2014 (December 31, 2013: EUR 94.7 million).

All of the aforementioned IFRS figures are preliminary. The third-quarter interim business report of Allgeier SE as of September 30, 2014 will be published on November 14, 2014, when it can be viewed at www.allgeier.com.