11/09/2011

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