Allgeier : achieves further revenue growth in the first quarter of 2017

Allgeier achieves further revenue growth in the first quarter of 2017

05/02/2017

Publication of inside information pursuant to Art. 17 MAR

Munich, May 2, 2017 - Allgeier SE (ISIN DE0005086300, WKN 508630) achieved sustained growth in revenue in the first quarter of 2017 (January 1, 2017 - March 31, 2017) accompanied by a marginal decline in the result compared with the previous year's continuing operations.

Revenue and earnings trends in the first quarter of 2017

In the first quarter of 2017 (January 1, 2017 - March 31, 2017) overall performance stood at EUR 133.8 million, reflecting an increase of 16 percent in a year-on-year comparison (previous year: EUR 114.9 million). Adjusted consolidated EBITDA from continuing operations (EBITDA before effects qualified as extraordinary in operating terms or relating to other accounting periods) amounted to EUR 4.6 million in the period under review (previous year: EUR 5.1 million). EBITDA for the period stood at EUR 5.3 million (previous year: EUR 5.6 million). The result reflects the Group's investment in expanding business and in personnel in the Allgeier Experts division as well as in the SAP units of Allgeier Enterprise Services. The Group therefore achieved EBIT of EUR 2.4 million in the first quarter of 2017 (previous year: EUR 2.9 million).

Key balance sheet financials as of March 31, 2017

Equity stood at EUR 117.6 million as of the reporting date on March 31, 2017 (December 31, 2016: EUR 116.9 million). The Allgeier Group had liquid assets of EUR 58.3 million at its disposal at the end of the first quarter of 2017 (December 31, 2016: EUR 71.8 million). The decline was due in particular to an increase in working capital during the year, earn-out payments, capital expenditure and interest payments. Current and non-current financial liabilities dropped slightly to EUR 107.8 million as of the reporting date (December 31, 2016: EUR 109.1 million). Total assets came in at EUR 341.3 million on the reporting date of March 31, 2017 (December 31, 2016: EUR 344.4 million).

Note

The aforementioned year-earlier results are not comparable with the financial information on the previous year due to the restatement of the previous year to reflect the divested units. All figures pertaining to the first quarter of 2017 have been determined in accordance with IFRS. A voluntary Interim Report of Allgeier SE as of March 31, 2017 will be released on May 19, 2017, when it can be viewed on the company's website at www.allgeier.com.