DGAP-Ad-hoc: ALLGEIER SE / Key word(s): Preliminary Results/Forecast
Munich, March 22, 2019 - According to preliminary figures, Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) recorded double-digit growth in total revenues, value creation and earnings in fiscal year 2018 (January 01, 2018 - December 31, 2018). Compared to the forecast published in the ad hoc release of December 11, 2018, the preliminary figures for the full year 2018 for the Experts segment show a lower level, while the Enterprise Services and Technology segments are in the range of the forecast.
Business development in continuing operations
Overall, the Group's total operating performance in the 2018 financial year rose year-on-year to EUR 690 million (previous year: EUR 579 million), representing growth of 19 percent. According to preliminary figures, Group value creation rose by 24 percent to EUR 195 million (previous year: EUR 157 million). Adjusted Group EBITDA (EBITDA before effects that from a business perspective are extraordinary or relate to other periods) amounted to EUR 41 million in the reporting period, 39 percent above the comparable figure for the prior year (previous year: EUR 29 million). Group EBITDA amounted to EUR 30 million (previous year: EUR 26 million) and EBIT to EUR 16 million (previous year: EUR 13 million).
In an "as-if" analysis, in which the companies acquired in 2018 are included in the Group figures for the full year 2018, adjusted Group EBITDA amounts to EUR 45 million and Group EBITDA to EUR 34 million.
Key balance sheet data as of December 31, 2018
The Allgeier Group had cash and cash equivalents of EUR 77 million at its disposal at the end of the 2018 financial year (previous year: EUR 53 million). Preliminary current and non-current financial liabilities amounted to EUR 182 million at the balance sheet date (previous year: EUR 110 million). The preliminary balance sheet total at the end of 2018 was EUR 476 million (previous year: EUR 338 million).
Outlook for the 2019 financial year
The planning for the 2019 financial year envisages Group revenue growth in the region of 15 to 20 percent with an EBITDA margin of between 6.5 and 7 percent. The forecast made in the ad hoc announcement of 11 December 2018 is maintained.
The spin-off of the Allgeier Experts segment (see ad-hoc releases of July 9, 2018 and January 31, 2019) remains the goal. However, the weaker performance of the segment in 2018 compared with the original planning and the currently increased uncertainty on the capital markets create greater uncertainty for the timing of implementation. The Management Board has therefore decided not to present this segment separately as a discontinued operation in the consolidated financial statements for 2018.
All IFRS figures mentioned in this release relate to continuing operations. All business figures for the 2018 financial year are preliminary and have not yet been conclusively audited by the Group auditor. The statements for the 2019 financial year represent future expectations based on the present planning, the occurrence of which cannot, however, be expected with certainty.
Allgeier SE is one of the leading IT companies for digital transformation. With a growth strategy focused on innovations and future trends and an integrative entrepreneurial model, Allgeier is seizing the opportunities of digitization. Four segments with individual technical and industry-related focal points work together for around 3,000 customers from almost all industries. With more than 9,000 employees and more than 1,300 freelance experts, Allgeier offers its customers a comprehensive portfolio of solutions and services as a one-stop shop. Allgeier uses a highly flexible delivery model to map the complete IT service spectrum from onsite to nearshore to offshore: With strong footholds in India, China and Eastern Europe, flexibility and maximum scalability of services as well as highly qualified expert knowledge in high-end software development are ensured. Allgeier's customers include global corporations as well as innovative medium-sized companies that want to secure strategic advantages through high-performance IT solutions, intelligent software and flexible personnel services. The fast-growing group, headquartered in Munich, has more than 140 branches in the DACH region, eleven other European countries as well as in India, China, Singapore, Vietnam, Thailand, Malaysia, Japan, the United Arab Emirates, South Africa, Mauritius, Australia, Mexico, Canada and the USA. According to preliminary figures, Allgeier achieved a total operating performance of approximately EUR 690 million in continuing operations in the 2018 fiscal year. According to the Lünendonk(R) List 2018, Allgeier SE is one of the ten leading IT consulting and system integration companies in Germany. According to Lünendonk(R) Market Segment Study 2018 "The Market for Recruiting, Placement and Management of IT Freelancers in Germany", Allgeier Experts is among the TOP 3 IT personnel service providers in Germany. Allgeier SE is listed in the General Standard of the Regulated Market of the Frankfurt Stock Exchange (WKN A2GS63, ISIN DE000A2GS633). Further information is available at: www.allgeier.com.
22-March-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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790741 22-March-2019 CET/CEST