11/16/2012

ALLGEIER SE / Key word(s): Quarter Results16.11.2012 09:39Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP – a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.—————————————————————————Munich, November 16, 2012 – Munich-based Allgeier SE (ISIN DE0005086300,WKN 508630) raised its sales revenue again in the first three quarters of2012 (January 1 to September 30, 2012), thereby outperforming the goodEBITDA already posted in the first nine months of 2011. The Group thereforecontinued to chart its course of growth in the first nine months of thefinancial year 2012 and gained an even firmer footing in the competitivearena.Compared with the first nine months of 2011, sales revenue climbed by 12.1percent to EUR 297.8 million (previous year: EUR 265.7 million). Thisincrease in sales revenue was achieved through operational growth in themajority of the companies belonging to the Group over a longer period andthrough company acquisitions made in 2011 and in the first three quartersof 2012. EBITDA climbed by 7.4 percent to EUR 16.1 million in the firstnine months of 2012 (previous year: EUR 14.9 million). EBITA (earningsbefore interest, tax and amortization on purchase price allocations and theearnings-effective adjustment of earn outs pursuant to IFRS) advanced by8.3 percent to EUR 13.0 million (previous year: EUR 12.0 million).By contrast, EBIT (earnings before interest and tax) fell 27.3 percent toEUR 6.3 million in comparison with a year ago (previous year: EUR 8.7million). Particularly EBIT as a measurement of performance reflects theinfluence of acquisition activity. In the first three quarters of 2012, theacquisitions led to a significant increase in IFRS amortization applied topurchase price allocations (in other words, amortization applied to orderbook positions, customer bases and products) which was largely the reasonfor the rise in depreciation and amortization of around EUR 3.5 million toEUR 9.8 million (previous year: EUR 6.3 million). The higher level ofamortization is based on the high valuation of customer relationships ofthe companies acquired in 2011 and 2012, which enjoy good order bookpositions and a large number of established customer relationships. Ordersare written down as and when they are processed, customer bases – withinfive years.The Group continued to raise its sales revenue steadily in the thirdquarter of 2012: Compared with the previous year’s period, this figureclimbed by 13.8 percent to EUR 107.7 million (Q3 2011: EUR 94.6 million).EBITDA remained stable at EUR 6.1 million in comparison with the thirdquarter of 2011. EBITA (earnings before interest, tax and amortizationrelating to purchase price allocations, and from the earnings-effectiveadjustment of earnouts pursuant to IFRS) was raised by 15.6 percent to EUR5.2 million (Q3 2011: EUR 4.5 million). EBIT (earnings before interest andtax) declined marginally to EUR 3.0 million as against the year-earlierperiod (Q3 2011: EUR 3.5 million), due in the main to the higher level ofscheduled IFRS amortization on purchase price allocations as part of theacquisitions made in 2011.As of the balance sheet date on September 30, 2012, the Allgeier Groupreported a sound financial and assets position. There was another increasein the balance sheet total of the Allgeier Group which grew from EUR 242.1million as per December 31, 2011, to EUR 301.8 million on September 30,2012, up EUR 59.7 million. This development was primarily attributable tothe successful placement of a borrower’s note loan in a net amount of EUR69.0 million and the repayment of a bank loan of EUR 19.0 million, thebalance of which resulted in the respective increase in the balance sheettotal. Another material effect on the balance sheet size was theacquisition of tecops personal GmbH whose assets and liabilities wereconsolidated in the third quarter of 2012. The cash flow from operatingactivities, adjusted for changes in working capital, stood at EUR 12.6million and was thus virtually unchanged from the year-earlier figure(previous year: EUR 12.7 million). As per September 30, 2012, the AllgeierGroup reports a high level of liquid assets amounting to EUR 43.8 millionat its disposal (status on December 31, 2011: EUR 31.9 million).The Interim Statement of Allgeier SE on the first quarter of 2012 is to bereleased today, November 16, 2012, and can be viewed at the company’swebsite under www.allgeier.com.Contact:Allgeier SEDr. Christopher GrosseWehrlestrasse 1281679 MunichGermanyTel.: +49 (0)89/998421-0Fax: +49 (0)89/998421-11E-Mail: ir@allgeier.comWeb: www.allgeier.comMunich-based Allgeier SE is one of the leading consulting and servicecompanies for IT solutions and services in the German-speaking region. Withmore than 4,000 employees and in excess of 1,500 freelance IT experts,Allgeier offers its customers a full-line service approach and acomprehensive solutions and services portfolio. Sixteen operationalcorporate 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 advantages of an international IT company, whichinclude product width, performance and process strengths, with theflexibility, expertise and proximity to customers of a powerfulmedium-sized provider. This high-growth company currently operates at morethan 90 locations in the German-speaking region, in the rest of Europe, aswell as in India, Mexico and the USA. Allgeier generated revenue of EUR 379million in 2011. The company is listed on the regulated market of theFrankfurt Stock Exchange in the General Standard segment (WKN 508630 / ISINDE0005086300). Further information is available on the company’s websiteat: www.allgeier.com.16.11.2012 DGAP’s Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de————————————————————————— Language: EnglishCompany: ALLGEIER SE Wehrlestraße 12 81679 München GermanyPhone: +49 (0) 89 – 99 84 21 0Fax: +49 (0) 89 – 99 84 21 11E-mail: info@allgeier.comInternet: http://www.allgeier.comISIN: DE0005086300WKN: 508630Indices: CDAXListed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart End of Announcement DGAP News-Service —————————————————————————