Investor Relations

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    Allgeier SE

    Dr. Christopher Große
    Marion Genais
    Einsteinstrasse 172
    D-81677 Munich
    Tel.: +49 89 998421-0
    Fax: +49 89 998421-11
    E-Mail: ir@allgeier.com

Investor Relations
Allgeier reports continued growth in FY 2012

03/26/2013

Munich, March 26, 2013 – Allgeier SE (ISIN DE0005086300, WKN 508630) once again reports significant growth in its 2012 financial year (January 1, 2012 to December 31, 2012), according to preliminary results. IFRS consolidated revenue was up by EUR 44 million to EUR 423 million (previous year: EUR 379 million), representing 12 percent growth.

Consolidated EBITDA grew 3 percent to EUR 22.9 million (previous year: EUR 22.3 million). EBITDA generated by its operating divisions (before holding company costs) increased by 16 percent to EUR 31.3 million (previous year: EUR 26.9 million). Consolidated EBIT (earnings before interest and tax) of EUR 9.1 million was weaker than in the previous year (previous year: EUR 12.0 million). EBIT generated by the operating divisions (before holding company costs) increased by 5 percent to EUR 17.5 million (previous year: EUR 16.6 million). Earnings in the 2012 financial year included EUR 9.5 million of extraordinary items (previous year: EUR 7.0 million). IFRS amortization applied to purchase price allocations (in other words, amortization applied to order book positions, customer bases and products) resulting from the acquisition activity comprised the largest effect. Such charges were up by EUR 2.3 million to EUR 9.5 million (previous year: EUR 7.2 million).

Outside the scope of continuing operations, the Allgeier Group also realized EUR 5.1 million of earnings before tax from the valuation of ongoing claims and risks arising from the Personnel Services division, which was sold in 2008. Together with the EUR 6.1 million of earnings before tax from the continuing operations, the Group consequently generated EUR 11.3 million of earnings before tax (previous year: EUR 9.5 million). After deducting all taxes on income, the Group achieved EUR 8.8 million of net income from both its discontinued and continuing operations, up by EUR 3.5 million compared with the previous year’s EUR 5.3 million.

Including the business that was sold, earnings per share rose by 91 percent from EUR 0.52 in 2011 to EUR 1.00 in the reporting year. Earnings per share after adjusting for amortization related to acquisition activity and other extraordinary items were up by 47 percent to EUR 1.85 (previous year: EUR 1.27).

Equity increased by EUR 5.2 million to EUR 93.4 million as of December 31, 2012 (previous year: EUR 88.2 million). The Allgeier Group reported EUR 38.9 million of liquid assets at its disposal as of December 31, 2012 (previous year: EUR 31.9 million). Current and non-current finance debt increased to EUR 73.8 million as of December 31, 2012 (previous year: EUR 41.4 million including liabilities arising from participation rights). Total assets rose to EUR 289.6 million (previous year: EUR 242.1 million). The main factors for the changes in the consolidated balance sheet included the acquisitions of tecops personal GmbH and five further companies in the financial year under review, the borrower’s note loan in a net amount of EUR 69.0 million that was placed on the capital market in February 2012, the repayment of an existing short-term bank loan in an amount of EUR 19.0 million, and the redemption of the on-balance sheet ABS program of EUR 10.6 million through off-balance sheet factoring of customer receivables in the same amount.

All of the IFRS figures referred to are preliminary, and have not yet been finally audited.