For any additional information please contact us directly:
Dr. Christopher Große
Tel.: +49 89 998421-0
Fax: +49 89 998421-11
Publication of inside information pursuant to Art. 17 MAR
Munich, December 09, 2019 – The Management Board of Allgeier SE (ISIN DE000A2GS633, WKN A2GS63), Munich, today approved the Group planning for the year 2020 and prepared a forecast for the end of 2019 on the basis of the preliminary Group figures as of October 2019.
In the current forecast for the 2019 financial year, the Management Board anticipates sales of between EUR 770 and 790 million; this corresponds to growth of 12 to 15 percent compared with the previous year. Due to the restructuring of the Allgeier Experts division in fiscal year 2019 and the associated discontinuation of low-margin sales, expected sales will be lower than originally forecast for the Group as a whole. However, the Management Board expects this to result in a disproportionately high increase in adjusted EBITDA (EBITDA before effects that qualify as extraordinary or non-periodic) to between 64 and 69 million euros; this corresponds to an increase of 18 to 21 percent over the previous year. The expected adjusted EBITDA margin is 8.3 to 8.7 percent.
The planning approved today by the Supervisory Board for the 2020 financial year envisages sales in the range of EUR 820 to 840 million for the Group as a whole, corresponding to sales growth of between 6 and 8 percent. The background is a further planned significant reduction of business with low margins in the Allgeier Experts segment. The adjusted EBITDA margin for the Group as a whole is expected to increase to between 11 and 12 percent, which corresponds to adjusted EBITDA of between EUR 90 and 100 million.
The aforementioned target figures refer to the organic growth of the Group. Future acquisitions in the individual divisions can make an additional contribution to growth.
All figures stated for 2019 and 2020 were prepared in accordance with IFRS, applying the IFRS 16 standard effective from 2019. The comparative figures for 2018 have been restated retrospectively to IFRS 16 for comparability purposes. It should also be noted that all figures for 2019 and 2020 are expectations of the Executive Board based on assumptions and estimates. Even if the Executive Board is of the opinion that these assumptions and estimates are correct, future actual developments and future actual results may differ from these assumptions and estimates. Allgeier SE does not warrant or assume any liability that future developments and future actual results will be consistent with the assumptions and estimates expressed in this ad hoc announcement.