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Allgeier SE
Investor Presentation • Dec 1, 2022
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Investor Presentation
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Investor Presentation December 2022
Agenda
Allgeier at a glance
Market trends
Business overview
Group financials
Value creation highlights
Allgeier is a proven specialist in the digitization of business models Key growth & future sectors such as e-commerce, cloud, cyber security & open-source software development 20211,3 (2018-2021)
| 1 €403m Revenue 2021 11% Adj. EBITDA margin 20211,3 Adj. EBITDA CAGR1,2,3 30% (2018-2021) |
Broad and stable customer base of large enterprises, medium-sized companies & public sector clients on all federal levels |
|---|---|
| ≈3,000 highly skilled employees1 & >750 freelance IT & 1 software experts |
Buy & build track record with 80+ value-adding 1 acquisitions |
Allgeier is a software and IT services company specialized in the digitization of mission-critical enterprise processes
At a glance
Agenda
Allgeier at a glance Market trends Business overview Group financials Value creation highlights
Allgeier is driven by major software & IT services market trends and the huge demand for digital transformation
Global cloud containerization market2
www.allgeier.com 5 1) BITKOM, Eito; as of July 2022 2) Data Bridge Market Research: Global Application Container Market; as of December 2021 3) National Standards Control Council: Monitor Digital Administration (federal budget for implementation of OZG and register modernization) 4) Fortune Business Insights: Cyber Security Market Research Report; as of March 2022 5) Statista: Spending on digital transformation technologies and services worldwide from 2017 to 2026; as of November 2022 6) Statista: eCommerce - global; as of November 2022
| 39% CAGR 2022-29 | 13% CAGR 2022-29 | 11% CAGR 2022-27 |
|---|---|---|
| \$22.7bn 2029 | \$376bn 2029 | \$5,480bn 2027 |
| Global cloud | 4 | 6 |
| containerization market2 | Global cyber security market | Global e-commerce market |
| €76.0bn 2022 | >€3.3bn 2021/2022 | \$1,850bn 2022 |
| German IT & software services market1 |
Investment in the digitization of public administration in Germany3 |
Global spending on digital transformation 5 technology & services |
39% CAGR 2022-29 \$22.7bn 2029
Agenda
Allgeier at a glance Market trends Business overview Group financials Value creation highlights
Allgeier organizes its software & IT services in two segments with strong & well-established brands
Business overview
Allgeier Enterprise IT mgm technology partners
| Focused on large IT & software projects for digital transformation, long-term managed services & proprietary software solutions |
Open-source/E-government • • Cyber security • Cloud E-commerce • • ERP & ECM • SAP & ServiceNow consulting & software development |
|---|---|
| >2,000 IT & software specialists1 1 >600 freelance IT experts |
1 19 locations in Germany 7 locations in Austria, 1 Switzerland, USA & India |
Allgeier Enterprise IT is specialized in large digital transformation projects with recurring nature at the core of the customers' operations
Allgeier Enterprise IT has a broad base of enterprise, Mittelstand & public customers …
- Building a central document collaboration platform for Vodafone in Germany and other countries as well as subsidiaries of Vodafone
- Migration of >4.5bn documents accessible by 4,500 users
- Technical basis is our proprietary DMS software that got highly customized for the specific Vodafone requirements, all architecture and software engineering is done by us
- The project is ongoing for 4 years and with a deployment of over 14,000 person days so far
- Our revenue from the project comprises of T&M & license fees
Customer story Vodafone Project OneDMS: Selected clients
… across major industries and with significant growth potential
www.allgeier.com
Allgeier Enterprise IT continues increase in earnings & margins
1) Based on unconsolidated quarterly segment financials; FY 2022 figures according to unaudited segment financials 2) Adj. EBITDA (EBITDA before effects that are extraordinary or relate to other periods) of operating unit w/o holding company costs
| One of the leading service providers for e-government solutions in Germany |
• High-end software development • E-government & E-commerce • A12 Enterprise Low Code Platform • Proprietary platform solutions Digitization consulting • Web application security • |
|---|---|
| ≈900 software developers & consultants1 1 >50 freelance IT experts |
1 10 locations in Germany 6 locations in France, Czech Republic, Switzerland, Austria, USA & Vietnam1 |
mgm technology partners is a high-end specialist for digitization, disruptive technology & consulting services
- mgm platforms are used by millions of users every day the most prominent platform is the electronic tax system ELSTER
- ELSTER is the largest and best-known e-government solution from Germany and one of the best references
- Online since >15 years safe, easily accessible, highly available & scalable; permanent access for 30m households and 5m companies
- Modern open-source technology with proprietary IT and modelbased approach that allows flexibility and customization
- High performance & stability for up to 1,000 system requests per second
- Ongoing project that continuously generates T&M revenues
Customer story ELSTER
| 13 | |
|---|---|
Selected clients
mgm technology partners' ongoing success is underlined by key public & enterprise accounts
mgm technology partners has in-depth know-how in e-government & commerce
Customer diversification1 Number of accounts1
Industry segmentation1
| 1 | 4 |
|---|---|
www.allgeier.com
mgm technology partners accelerates its growth with high profitability
1) Based on unconsolidated quarterly segment financials; FY 2022 figures according to unaudited segment financials 2) Adj. EBITDA (EBITDA before effects that are extraordinary or relate to other periods) of operating unit w/o holding company costs
Agenda
Allgeier at a glance
Market trends
Business overview
Group financials
Value creation highlights
www.allgeier.com
Group financials
Allgeier P&L shows growth and continuous margin improvement
1) Continuing operations according to IFRS; FY 2022 figures unaudited 2) EBITDA before effects that are extraordinary or relate to other periods
www.allgeier.com
Operating Cashflow development H1 2022 Net debt in € m1 in € m1
Balance sheet ratios offer leeway for further M&A
€200m
Revolving credit facility by a bank consortium
+
€60m
Promissory note loan by a bank consortium with a term of 5 & 7 yrs
1) Continuing operations according to IFRS
2) Net debt-to-Pro-forma Adjusted EBITDA (LTM) ratio according to revolving credit facility
Guidance for the 2022 financial year and mid-term forecast: Further revenue growth & margin expansion
Group financials
Revenue
FY 2022
€480-520m
€63-69m
(corresponding to a margin of 13-14%)
Mid-term (next 3 yrs)
Organic growth rate of 10-15%
Agenda
Allgeier at a glance
Market trends
Business overview
Group financials
Value creation highlights
Allgeier is creating sustainable shareholder value at the core of digitization
Digitization is disrupting any business.
- Digitization drives our business. We address the need of our customers for change-the-business projects.
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Modern software solutions are a key competitive differentiator.
We deliver high value-add through software solutions like open-source software, cyber security, cloud transformation & e-government.
Smart & highly skilled people are the basis of know-how in a fast-developing business environment.
- We are a safe & exciting home to our people based on modern & open cultures in the various Allgeier companies.
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M&A creates outstanding development opportunities in a fragmented market environment.
We are attracting companies & entrepreneurial people to join us.
Postal address
Allgeier SE Einsteinstrasse 172 – Blue Tower D -81677 Munich Phone: +49 89 998421 - 0
Contact
Investor Relations [email protected]
Web Follow us on LinkedIn www.allgeier.com/en/investor -relations
