ALLGEIER SE \/ Key word(s): Quarter Results<\/b><\/p>\n
16.05.2013 14:34<\/p>\n
Dissemination of an Ad hoc announcement according to \u00a7 15 WpHG, transmitted
\nby DGAP – a company of EquityStory AG.
\nThe issuer is solely responsible for the content of this announcement.<\/p>\n
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Munich, May 15, 2013 – Allgeier SE (ISIN DE0005086300, WKN 508630) reported
\nfurther revenue growth in the first quarter of 2013 (January 1, 2013 –
\nMarch 31, 2013), although its EBITDA fell short of the very good result
\nreported in the first quarter of 2012 primarily as a consequence of a
\nnon-cash currency translation loss on a long-term dollar liability arising
\nfrom its Nagarro acquisition. Consequently, the Allgeier Group continued to
\nreport growth during the first quarter of 2013 financial year and further
\nbolstered its competitive position.<\/p>\n
Revenue in the first three months of 2013 grew significantly, by 19 percent
\ncompared with the first quarter of 2013, to reach EUR 110.2 million
\n(previous year: EUR 92.7 million). This revenue growth reflected operating
\ngrowth at most of the companies that have belonged to the Group for a
\nlonger period, and the corporate acquisitions realised in 2012. EBITDA fell
\nshort of the very good result reported in the comparable period of 2012,
\nfalling to EUR 4.8 million (previous year: EUR 6.1 million). This
\ndivergence is mainly attributable to currency differences arising from the
\ntranslation of a long-term purchase price liability deriving from the
\nacquisition of the Nagarro Group in 2011. The constellation of exchange
\nrates on the respective quarter-end reporting dates fed through to a EUR
\n1.1 million charge in the first quarter of 2013 resulting from valuation
\ndifferences. EBIT (earnings before interest and tax) also fell
\ncorrespondingly year-on-year to EUR 1.8 million (previous year: EUR 2.8
\nmillion). The EBIT earnings figure continued to be impacted in 2013 by
\namortisation charges applied to IFRS purchase price allocations pursuant
\n(amortisation of order book positions, customer bases and products), which
\ncomprise most of the amortisation and depreciation of EUR 3.1 million
\n(previous year: EUR 3.3 million). This continued high level of amortisation
\nis based mainly on the valuation of customer relationships and acquired
\nhidden reserves in products and developments, which was performed pursuant
\nto IFRS on the initial consolidation date of the acquired companies.<\/p>\n
The Allgeier Group continues to enjoy robust financing and net asset
\npositions as of the March 31, 2013 reporting date. Total assets reported
\nfurther slight growth of EUR 5.5 million, from EUR 289.6 million on
\nDecember 31, 2012, to EUR 295.1 million on March 31, 2013. Equity posted a
\nmodest increase of EUR 1.7 million to EUR 95.1 million on the balance sheet
\ndate (December 31, 2012: EUR 93.4 million). At EUR 5.3 million, cash flow
\nfrom operating activities before working capital changes in the first three
\nmonths of the year was approximately at the level of the prior-year
\ncomparable period (previous year: EUR 6.0 million). The Allgeier Group
\ncontinues to report a high level of liquid assets of EUR 33.6 million as of
\nMarch 31, 2013 (December 31, 2012: EUR 38.9 million). Along with outgoing
\npayments related to investment activities, this fall in liquid assets is
\nmainly connected with the increase in working capital related to the
\nreporting date, including liquidity not required due to a lower volume of
\nreceivables sold as part of factoring.<\/p>\n
The Management Board expects the entire Group to report sustained
\nabove-average growth revenue in the low double-digit percentage range for
\nthe 2013 financial year, with earnings rising at a faster rate.<\/p>\n
The interim report for the first quarter of 2013 of Allgeier SE is to be
\npublished today, May 15, 2013, and can be viewed at www.allgeier.com.<\/p>\n
Contact:<\/p>\n
Allgeier SE
\nCorporate Communications & Investor Relations
\nDr. Christopher Grosse
\nWehrlestrasse 12
\n81679 Munich
\nTel.: +49 (0)89\/998421-0
\nFax: +49 (0)89\/998421-11
\nE-mail: ir@allgeier.com
\nWeb: www.allgeier.com<\/p>\n
Allgeier SE is one of the leading IT companies for Business Performance:
\nAllgeier combines the advantages of an international provider with the
\nmerits of medium-sized companies with a growth strategy oriented
\nconsistently to innovations and future trends, and an integrative business
\nmodel. Six operating divisions, each with their individual specialist or
\nsector-related focal points, work together in the three segments of
\nSolutions\/Business Software, Experts and Software Development for more than
\n2,000 customers from almost all sectors. With more than 4,200 salaried
\nemployees and around 1,500 freelance IT experts, Allgeier, as a one-stop
\nshop, offers customers a comprehensive portfolio of solutions and services.
\nAllgeier’s customers include globally operating groups as well as
\ninnovative medium-sized operations that wish to secure strategic advantages
\nthrough intelligent IT solutions and flexible personnel services. This
\nhigh-growth company, which is based in Munich, Germany, operates at more
\nthan 90 sites in the German-speaking region, and at further locations in
\nthe rest of Europe, as well as in India, Mexico and the USA. Allgeier
\ngenerated EUR 423 million of revenue in 2012. The company is listed on the
\nregular market of the Frankfurt Stock Exchange in the General Standard
\nsegment (WKN 508630 \/ ISIN DE0005086300). Further information is available
\non the company’s website at: www.allgeier.com.<\/p>\n
16.05.2013 DGAP’s Distribution Services include Regulatory Announcements,
\nFinancial\/Corporate News and Press Releases.
\nMedia archive at www.dgap-medientreff.de and www.dgap.de<\/p>\n
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Language: English
\nCompany: ALLGEIER SE
\n Wehrlestra\u00dfe 12
\n 81679 M\u00fcnchen
\n Germany
\nPhone: +49 (0) 89 – 99 84 21 0
\nFax: +49 (0) 89 – 99 84 21 11
\nE-mail: info@allgeier.com
\nInternet: http:\/\/www.allgeier.com
\nISIN: DE0005086300
\nWKN: 508630
\nIndices: CDAX
\nListed: Regulierter Markt in Frankfurt (General Standard);
\n Freiverkehr in Berlin, D\u00fcsseldorf, Hamburg, Stuttgart<\/p>\n
End of Announcement DGAP News-Service<\/p>\n
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Munich, May 15, 2013 – Allgeier SE (ISIN DE0005086300, WKN 508630) reported further revenue growth in the first quarter of 2013 (January 1, 2013 – March 31, 2013), although its EBITDA fell short of the very good result reported in the first quarter of 2012 pri<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":219,"menu_order":0,"comment_status":"close","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-10883","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\n