Munich, April 17, 2012
Munich-based Allgeier Holding AG, one of the leading IT service companies in the German-speaking region, continued to report significant revenue and earnings growth in the 2011 financial year. The Group is well positioned to continue its growth over the coming years through consistently occupying positions in important future IT sector
trend areas.
Ten years ago, Allgeier achieved revenue of less than EUR 10 million in its IT segment. The high-growth Group reported EUR 379 million of revenue in the past 2011 financial year, representing 23 percent year-on-year growth. Operating cash flow (before working capital changes) grew by 31 percent from EUR 21.6 million in the previous year to EUR 28.4 million. EBITDA as reported in the consolidated financial statements also underwent a year-on-year improvement of 23 percent to reach EUR 22.3 million. ‘Allgeier is firmly established as one of the leading IT service companies on the German market,’ commented Georg Dürschmidt, CEO of Allgeier Holding AG, as the annual financial statements were approved on Tuesday today. ‘Over the last few years, the company has not only reported strong organic growth, but we have also accelerated this growth through stringently selected acquisitions, and we have further expanded our portfolio of services.’ The Management Board regards the good results as confirmation of the path that the company has pursued. It believes that the Allgeier Group is correctly positioned in all key growth markets to continue this positive trend into the future.
Companies today are concentrating more than ever on technologies that make them more streamlined, more productive, and more effective. Information technology has significantly changed the working methodologies of almost every industry and public-sector administration over the last few years. IT is now the most important innovation driver in almost all sectors. New manager generations think increasingly in terms of networking and IT structures. This trend is still in its infancy, and requires that working environments be adjusted, and that the IT services on offer be developed further. The Management Board expects that the IT service industry, and Allgeier, as an innovative and powerful service-provider, will benefit from such changes.
The takeover of the US/Indian Nagarro Group last summer will contribute in this context. Capacity bottlenecks in terms of highly qualified IT experts already exist in Allgeier’s core market of Germany, Austria and Switzerland. At the same time, customers are making ever greater requirements of IT service providers in terms of supply capacity and quality. ‘With Nagarro, we have secured valuable access to outstandingly qualified IT experts at global locations, and we have significantly expanded our international presence,’ the Management Board commented.
High-end software service-provider Nagarro employees around 1,000 IT experts in India, and aims to further expand its staff base over the coming years. With last year’s acquisition of 1eEurope AG, which is based in Switzerland, the Allgeier Group has gained a leading IT service provider of collaboration software (such as SharePoint). Allgeier has bolstered its position in the growth market of health care with the acquisition of GEMED GmbH.
Application of unappropriated retained earnings
The Management and Supervisory boards have passed a resolution today, April 17, 2012, 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 41,419,801.12 as reported in the financial statements of Allgeier Holding AG as of December 31, 2011. The remaining retained earnings are to be carried forward to a new account.
Outlook
The Management Board expects sustained consolidated earnings growth in the low double-digit percentage range for the 2012 financial year, with earnings rising at a faster rate.
Concurrent with the publication of the annual financial statements, Allgeier Holding AG also announces a change to the Management Board. Dr. Holger von Daniels has chosen to discontinue his Management Board activities at the company as of April 30, 2012, in order to devote himself to a new business challenge within his family environment in the future. Dr. von Daniels has made a considerable contribution to the company’s successful further development during his period of Management Board activity. His Supervisory Board and Management Board colleagues would like to thank Dr. von Daniels for his services over the course of the recent years.
‘The past years have been characterised by strong growth at the Allgeier Group. It has been a great pleasure for me to be able to accompany the company’s strong development over this time. I would like to extend my warm thanks to all of my colleagues at the Group for their personal commitment, and for the positive way in which we have worked together over the years,’ Daniels went on to comment. Dr. von Daniels will continue to be available as an adviser to the Group following his departure. The remaining Management Board members Georg Dürschmidt und Dr. Marcus Goedsche will take over Dr. von Daniels’ Management Board tasks and areas of responsibility. The company will continue to pursue its existing strategy.