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Investor Relations
Allgeier SE: Allgeier reports half-yearly figures

07/29/2014

Munich, 29 July 2014 – Allgeier SE (ISIN DE0005086300, WKN 508630) reports a stable revenue trend during the first six months of the 2014 financial year (1 January 2014 – 30 June 2014), according to preliminary figures. EBITDA as reported on a preliminary basis fell slightly due to the business trend in the Experts segment. The two other segments reported significant growth in part, by contrast. Preliminary consolidated revenue, including discontinued operations, remained nearly unchanged at EUR 226.6 million in the first half-year of 2014 compared with the first six months of 2013 (EUR 227.3 million). Preliminary EBITDA, including discontinued operations, fell by 7 percent to EUR 11.5 million in a year-on-year comparison (previous year: EUR 12.3 million). Accordingly, preliminary earnings before interest and tax (EBIT), including discontinued operations, dropped to EUR 5.0 million (previous year: EUR 6.2 million). Preliminary earnings before tax (EBT), including discontinued operations, at EUR 3.3 million almost reached the result of the prior-year period (previous year: EUR 3.5 million). After deduction of preliminary tax expenses of EUR 1.5 million (previous year: EUR 1.4 million), Allgeier generated a preliminary profit of EUR 1.8 million in the first half-year of 2014 (previous year: EUR 2.1 million). Preliminary revenue generated by continuing operations (excluding discontinued operations) stood at EUR 202.4 million in the first half-year of 2014 (previous year: EUR 202.9 million). Preliminary EBITDA from continuing operations (excluding discontinued operations) posted EUR 10.7 million during the period under review (previous year: EUR 11.8 million).

This business area, which is reported as a discontinued operation in the half-year figures, is being deconsolidated in July 2014. The Allgeier Group anticipates a disposal gain of around EUR 1 million from the sale of this business.

Total assets decreased slightly in the first half year of 2014 to EUR 283.2 million as of 30 June 2014 (31 December 2013: EUR 289.3 million), according to preliminary figures. The reduction in total assets is essentially attributable to seasonal and reporting-date-related working capital fluctuations, outgoing payments as part of acquisition activities occurred during the first half-year of 2014, as well as the payment to the shareholders of Allgeier SE of the dividend from the earnings for the 2013 fiscal year. The Allgeier Group had cash and cash equivalents of EUR 35.0 million as of the balance sheet date at its disposal (31 December 2013: EUR 46.7 million). Current and non-current financial liabilities increased to EUR 77.9 million as of 30 June 2014 (31 December 2013: EUR 75.5 million). Consolidated equity reported a slight reduction to EUR 93.3 million as of 30 June 2014 (31 December 2013: EUR 94.7 million).

The 2014 half-yearly financial report of Allgeier SE will be published on August 14, 2014, and can then be viewed at www.allgeier.com.