DGAP-Adhoc: Allgeier SE: Supervisory Board approves annual financial statements and makes dividend proposal

ALLGEIER SE / Key word(s): Final Results

18.04.2013 12:32

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Munich, April 17, 2013 - The Supervisory Board of Allgeier SE (ISIN
DE0005086300 / WKN 508630) has approved the audited separate and
consolidated annual financial statements of Allgeier SE for the 2012
financial year at its meeting held on April 17, 2013. The separate annual
financial statements have been adopted as a consequence. The final
consolidated figures correspond to the preliminary figures announced in the
ad hoc announcement of March 26, 2013.

IFRS revenue and earnings trends

Allgeier SE continued to report significant growth in its 2012 financial
year (January 1, 2012 to December 31, 2012). IFRS consolidated revenue was
up by EUR 44.0 million to EUR 422.8 million (previous year: EUR 378.8
million), representing 12 percent growth. Consolidated EBITDA grew 3
percent to EUR 22.9 million (previous year: EUR 22.3 million). EBITDA
generated by its operating divisions (before holding company costs)
increased by 17 percent to EUR 31.3 million (previous year: EUR 26.9
million). Consolidated EBIT (earnings before interest and tax) of EUR 9.1
million was weaker than in the previous year (previous year: EUR 12.0
million). EBIT generated by the operating divisions (before holding company
costs) increased by 5 percent to EUR 17.5 million (previous year: EUR 16.6
million). Earnings in the 2012 financial year included EUR 9.5 million of
extraordinary items (previous year: EUR 7.0 million). IFRS amortization
applied to purchase price allocations (in other words, amortization applied
to order book positions, customer bases and products) resulting from the
acquisition activity comprised the largest effect. Such charges were up by
EUR 2.3 million to EUR 9.5 million (previous year: EUR 7.2 million).
Outside the scope of continuing operations, the Allgeier Group also
realized EUR 5.1 million of earnings before tax from the valuation of
ongoing claims and risks arising from the Personal Services division, which
was sold in 2008. Together with the EUR 6.1 million of earnings before tax
from the continuing operations, the Group consequently generated EUR 11.3
million of earnings before tax (previous year: EUR 9.5 million). After
deducting all taxes on income, the Group achieved EUR 8.8 million of net
income from both its discontinued and continuing operations, up by EUR 3.5
million compared with the previous year's EUR 5.3 million.
Including the business that was sold, earnings per share rose by 92 percent
from EUR 0.52 in 2011 to EUR 1.00 in the reporting year. Earnings per share
after adjusting for amortization related to acquisition activity and other
extraordinary items were up by 46 percent to EUR 1.85 (previous year: EUR
1.27).

Key balance sheet figures

Equity increased by EUR 5.2 million to EUR 93.4 million as of December 31,
2012 (previous year: EUR 88.2 million). The Allgeier Group reported EUR
38.9 million of liquid assets at its disposal as of December 31, 2012
(previous year: EUR 31.9 million). Current and non-current finance debt
increased to EUR 73.8 million as of December 31, 2012 (previous year: EUR
41.4 million including liabilities arising from participation rights).
Total assets rose to EUR 289.6 million (previous year: EUR 242.1 million).
The main factors for the changes in the consolidated balance sheet included
the acquisitions of tecops personal GmbH and five further companies in the
financial year under review, the borrower's note loan in a net amount of
EUR 69.0 million that was placed on the capital market in February 2012,
the repayment of an existing short-term bank loan in an amount of EUR 19.0
million, and the redemption of the on-balance sheet ABS program of EUR 10.6
million through off-balance sheet factoring of customer receivables in the
same amount.

Application of unappropriated retained earnings

The Management and Supervisory boards have passed a resolution today, April
17, 2013, to propose to the AGM that it approves the distribution of a
dividend of EUR 0.50 per share to shareholders from the unappropriated
retained earnings of EUR 35,922,911.78 as reported in the separate annual
financial statements of Allgeier SE as of December 31, 2012. The remaining
retained earnings are to be carried forward to a new account.

Outlook

The Management Board expects sustained further consolidated revenue and
earnings growth for the 2013 financial year. Allgeier intends to respond
with an adjusted strategy to the further change in the IT sector market
environment, which is gauged as positive overall. The greater bundling of
business activities into divisions as major corporate units, and these
divisions' focus on products and services that enjoy above-average demand,
as well as some sector megatrends, are intended to help Allgeier to
continue to report above-average growth in the future, and to exploit
opportunities arising from the sector's advancing consolidation. The
company is to concentrate more strongly on profitable growth with
above-average improvements in key earnings figures in this context.

The 2012 annual report will be published on April 26, 2013, and will then
be available on the company's website at www.allgeier.com.

Contact:

Allgeier SE
Dr. Christopher Grosse
Wehrlestrasse 12
81679 Munich
Tel.: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11
E-Mail: ir@allgeier.com
Web: www.allgeier.com

Allgeier SE is one of the leading IT companies for Business Performance
today: Allgeier combines the advantages of an international provider with
the merits of medium-sized companies with a growth strategy oriented
consistently to innovations and future trends, and an integrative business
model. Six operating divisions, each with their individual specialist or
sector-related focal points, work together in the three segments of
Solutions, Experts and Projects for more than 2,000 customers from almost
all sectors. With more than 4,200 salaried employees and over 1,500
freelance IT experts, Allgeier, as a one-stop shop, offers customers a
comprehensive portfolio of solutions and services. Allgeier's customers
include globally operating groups as well as innovative medium-sized
operations that wish to secure strategic advantages through intelligent IT.
This high-growth company operates at more than 90 sites in the
German-speaking region, and at further locations in the rest of Europe, as
well as in India, Mexico and the USA. Allgeier generated EUR 423 million of
revenue in 2012. The company is listed on the Regulated 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.

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Language: English
Company: ALLGEIER 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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