Allgeier SE — Earnings Release 2012

May 10, 2012

News Details

Ad-hoc | 10 May 2012 10:51

Allgeier continues growth course into first quarter 2012

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

10.05.2012 10:51

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Munich, May 10, 2012 - Allgeier Holding SE (ISIN DE0005086300, WKN 508630),
one of the leading companies in the German IT sector, has posted a
significant increase in revenues in the first quarter of 2012 (January 1,
2012 to March 31, 2012) and exceeded the extremely strong EBITA achieved in
the first quarter of 2011. Allgeier Holding SE has therefore continued its
positive development over the past few quarters and further strengthened its
position vis-à-vis the competition.

Revenues increased by 11% in the first quarter 2012 compared to the same
period in the previous year to reach EUR 92.7 million (1st quarter 2011: EUR
83.4 million). EBITDA rose by 24% to EUR 6.1 million (1st quarter 2011: EUR
4.9 million). EBITA (earnings before interest, taxes, amortization of
purchase price allocations and earnings-effective adjustment of earnout
pursuant to IFRS) climbed by 20% to EUR 5.2 million (1st quarter 2011: EUR
4.3 million). EBIT (earnings before interest and taxes) fell by 13% to EUR
2.8 million in the period under review in line with expectations (1st
quarter 2011: EUR 3.2 million). This earnings result for the first quarter
was also influenced by acquisitions made in 2011. These acquisitions
resulted in an increase in scheduled amortization to purchase price
allocations on the balance sheet pursuant to IFRS. The high levels of
amortization are based on the high measurement of the established customer
relationships of the companies acquired in 2011 which have strong order
books and a high number of established customer relationships.

Cash flow from operating activities and before working capital changes of
EUR 6 million was posted in the first three months of 2012 (1st quarter
2011: EUR 4.4 million). Including cash flows from working capital changes,
cash flow from operating activities stands at EUR 0.9 million due to
reporting date effects (1st quarter 2011: EUR 3.1 million). The Allgeier
Group posted high cash and cash equivalents of EUR 76.3 million as at March
31, 2012 (December 31, 2011: EUR 31.9 million). The increase essentially
results from the inflow from the promissory note loan of EUR 69 million net,
the repayment of a bank loan of EUR 19 million, expenditure on acquisitions
of EUR 2.1 million and financial investments of around EUR 3 million which
cannot be entered as cash on the balance sheet. The Group plans to deploy
the available funds to achieve further company growth and to acquire new
subsidiaries. Equity increased to EUR 89.2 million in the first quarter 2012
(December 31, 2011: EUR 88.2 million). Total assets rose by EUR 50.6 million
compared to December 31, 2011 from EUR 242.1 million to EUR 292.7 million.

Both the operational growth of the companies under longstanding Group
ownership and the companies acquired in 2011 made significant contributions
to the increase in revenues and EBITA. The management is confident that the
course of growth embarked upon will continue over the coming months.

The interim report on the first quarter 2012 will be published today, May
10, 2012, and can be viewed at www.allgeier.com.

Contact:
Allgeier Holding SE
Dr. Christopher Große
Wehrlestraße 12
81679 Munich
Tel.: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11
Email: ir@allgeier-holding.de
Web: www.allgeier.com

Munich-based Allgeier Holding AG is one of the leading consulting and
service companies in the German-speaking region. With more than 2,500
employees and around 1,500 freelance IT experts, Allgeier offers its
customers a complete service approach spanning design, implementation, and
through to the operation of IT landscapes. Fourteen corporate units, each
with its own specialist and sector-related focus, work together for more
than 2,000 customers from almost all sectors. Allgeier combines the
expertise and local presence of medium-sized company units with the
performance strength and flexibility of a listed company. This high-growth
company currently operates at more than 50 sites in the German-speaking
region, and at 23 further locations in the rest of Europe, as well as in
India, Mexico and the USA. The company is listed on the regular market of
the Frankfurt Stock Exchange in the General Standard segment (WKN 508630 /
ISIN DE0005086300). Further information is available on the company's
website at: www.allgeier.com.

10.05.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language: English
Company: ALLGEIER HOLDING SE
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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