Allgeier SE — Earnings Release 2011

Nov 10, 2011

News Details

Ad-hoc | 10 November 2011 17:01

Allgeier Holding AG reports continued revenue and earnings growth

ALLGEIER HOLDING AG / Key word(s): Quarter Results

10.11.2011 17:01

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Munich, November 10, 2011 - Allgeier Holding AG (ISIN DE000508630 / German
Securities Identification Number [WKN] 508630) continues to report
significant consolidated revenue and earnings growth in the first nine
months of the current 2011 financial year (January 1, 2011 until September
30, 2011) on an IFRS basis.

Revenue was up by 24% in the first nine months to reach EUR 265.7 million
(previous year: EUR 215.1 million). EBITA (earnings before interest, taxes,
and amortisation of goodwill and purchase price allocations) grew by 30% to
EUR 12.0 million (previous year: EUR 9.2 million). EBIT (earnings before
interest and taxes) increased by 38% to EUR 8.7 million in the period under
review (previous year: EUR 6.3 million). These earnings included a EUR 0.8
million charge booked in the reporting period arising from a one-off
reorganisation expense for one Group company.

In the third quarter of 2011 (July 1, 2011 until September 30, 2011),
Allgeier generated EUR 94.6 million of sales revenue compared with EUR 81.3
million in the third quarter of 2010, representing 16% growth. EBITA
amounted to EUR 4.5 million in the third quarter of 2011 (Q3 2010: EUR 5.0
million), and EBIT stood at EUR 3.5 million in the reporting quarter (Q3
2010: EUR 3.6 million).

Third-quarter EBITA included charges of EUR 0.6 million arising from
extraordinary effects due to currency differences connected with the
accounting treatment of earnout obligations, and charges of EUR 0.4 million
due to incidental purchase costs incurred with the acquisition of Nagarro,
which are not capitalised pursuant to IFRS. When adjusting for these items,
the company generated operating EBITA of EUR 5.5 million, equivalent to a
10% increase compared with the same quarter of the previous year.

EBIT was also impacted by acquisitions that were realised in the third
quarter of 2011, where the amortisation of capitalised intangible assets
rose to EUR 1.9 million (Q3 2010: EUR 1.3 million). The company also
reported EUR 1.0 million of extraordinary income due to purchase price
adjustments applied to companies acquired in the 2010 financial year. When
adjusting for these effects, EBIT amounted to EUR 4.1 million, representing
14% growth compared with the comparable prior-year quarter.

The total assets of the Allgeier Group grew by EUR 34.5 million, from EUR
204.1 million on December 31, 2010, to EUR 238.6 million as of September
30, 2011. Equity increased from EUR 85.5 million as of December 31, 2010 to
EUR 86.9 million as at September 30, 2011. The equity ratio stood at 36.4%
as of the balance sheet date (equity ratio on December 31, 2010: 41.9%).

The interim announcement as of September 30, 2011 can be viewed online at
www.allgeier.com.

Contact:
Allgeier Holding AG
Wehrlestr. 12
81679 Munich
Tel.: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11
eMail: ir@allgeier-holding.de
Web: www.allgeier.com

Allgeier Holding AG, with its headquarters in Munich, is one of the leading
consultancy and service companies in the German-speaking countries. With
their units IT Solutions, IT Services & Recruiting and Project Solutions,
Allgeier offers a comprehensive range of services from the initial concept
through implementation to the operation of IT landscapes. Allgeier Group
has 16 operational subsidiaries with over 2,200 employees as well as more
than 1,400 freelance experts serving some 3,000 customers in virtually
every area of the economy. In Germany, the Group runs 52 subsidiaries as
well as 25 offices in Austria, Belgium, France, the Netherlands, Romania,
Sweden, Switzerland and the Czech Republic as well as in India, Mexico and
United States. During the 2010 financial year, Allgeier achieved sales of
EUR 308.7 million. According to Lünendonk's market segment survey in 2010,
Allgeier ranks no. 2 among the medium-sized IT service companies and no. 2
among IT recruitment companies in Germany. The company is listed at the
Frankfurt Stock Exchange.

10.11.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language: English
Company: ALLGEIER HOLDING AG
Wehrlestraße 12
81679 München
Germany
Phone: +49 (0) 89 - 99 84 21 0
Fax: +49 (0) 89 - 99 84 21 11
E-mail: info@allgeier.com
Internet: http://www.allgeier.com
ISIN: DE0005086300
WKN: 508630
Indices: CDAX
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart

End of Announcement DGAP News-Service

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