{"id":6489,"date":"2015-04-21T12:39:37","date_gmt":"2015-04-21T12:39:37","guid":{"rendered":"https:\/\/allgeier-se.seowerk.net\/?p=6489"},"modified":"2025-09-03T20:14:25","modified_gmt":"2025-09-03T18:14:25","slug":"allgeier-se-supervisory-board-approves-annual-financial-statements-and-proposes-dividend-management-board-sees-positive-outlook-for-2015","status":"publish","type":"post","link":"https:\/\/allgeier-se.seowerk.net\/en\/adhoc-announcements\/allgeier-se-supervisory-board-approves-annual-financial-statements-and-proposes-dividend-management-board-sees-positive-outlook-for-2015\/","title":{"rendered":"ALLGEIER SE: Supervisory Board approves annual financial statements and proposes dividend; Management Board sees positive outlook for 2015"},"content":{"rendered":"<pre>\n<b>ALLGEIER SE  \/ Key word(s): Final Results\/Dividend<\/b>\n\n21.04.2015 14:39\n\nDissemination of an Ad hoc announcement according to \u00a7 15 WpHG, transmitted\nby DGAP - a service of EQS Group AG.\nThe issuer is solely responsible for the content of this announcement.\n\n---------------------------------------------------------------------------\n\nMunich, April 21, 2015 - The Supervisory Board of Allgeier SE (ISIN\nDE0005086300, WKN 508630) at its meeting on April 21, 2015, has approved\nthe audited separate and consolidated financial statements for Allgeier SE\nfor the 2014 financial year. The separate annual financial statements have\nbeen adopted as a consequence. The finalised consolidated figures\nessentially correspond to the preliminary figures that were announced in an\nad hoc release on March 6, 2015.\n\nRevenue and earnings trends (IFRS)\n\nDuring the 2014 financial year elapsed (January 1, 2014 to December 31,\n2014), the Allgeier Group achieved 3 percent revenue growth in its\ncontinuing operations to reach a level of EUR 428.2 million (IFRS basis;\nprevious year: EUR 414.8 million). EBITDA from continuing operations stood\nat EUR 23.9 million (previous year: EUR 29.8 million). After depreciation,\namortisation and impairment losses, Allgeier generated EUR 11.1 million of\nEBIT on IFRS basis (previous year: EUR 16.5 million). After deducting\ninterest, the Group achieved EUR 6.2 million of earnings before tax from\nits continuing operations (previous year: EUR 12.5 million). Net income\nfrom continuing operations stood at EUR 1.1 million (previous year: EUR 5.4\nmillion). Including disposal gains, the Allgeier Group reports EUR 2.6\nmillion of total net income for the 2014 financial year from both its\ndiscontinued and continuing operations (previous year: EUR 3.7 million).\nEarnings per share for the entire Allgeier Group (discontinued and\ncontinuing operations) amounted to EUR 0.23 in the year under review\n(previous year: EUR 0.42). Earnings per share from the continuing\noperations (adjusted for amortisation relating to acquisition activity, and\nwith normalised taxes) amounted to EUR 1.18 during the reporting year\n(previous year: EUR 1.52).\n\nKey balance sheet data\n\nEquity grew to EUR 100.7 million as of December 31, 2014 (previous year:\nEUR 94.7 million). The increase in liquid assets from EUR 46.7 million in\nthe previous year to EUR 98.0 million as of December 31, 2014, was offset\nby a rise in financial liabilities from EUR 75.5 million at the end of 2013\nto EUR 125.2 million at the end of the reporting year. The main factor for\nboth effects is a placing of new bond in December 2014, which allowed\nAllgeier to establish medium- and long-term financial security for the\nentire corporate group on significantly improved terms.\n\nApplication of profits\n\nThe Supervisory Board has today, April 21, 2015, passed a resolution to\npropose to the Annual General Meeting the distribution of a dividend of EUR\n0.50 per share to the shareholders from the unappropriated retained\nearnings EUR 19,994,078.33 as of December 31, 2014, as reported in the\nseparate annual financial statements of Allgeier SE. The remaining\nunappropriated retained earnings are to be carried forward to a new\naccount.\n\nOutlook for 2015\n\nIn line with the statement in the management report as of December 31,\n2014, the Management Board anticipates total revenue growth of between 10\nand 15 percent for the continuing operations, according to planning for the\n2015 financial year. The EBITDA margin (before extraordinary effects, and\neffects related to other accounting periods) is to rise in the magnitude of\none percentage point,\nequivalent to above-average EBITDA growth in the magnitude of a\ndouble-digit percentage amount.\n\nTargeted acquisitions in 2015 should also support and accelerate the growth\nand positioning of the Group and its individual segments on the market.\nAllgeier will finance its intended investments from both equity and debt.\nFor this purpose, existing and new financing facilities are being reviewed\nconstantly, and adapted where required. This also includes examining\nopportunities for equity-based financing.\n\nThe performance of the Allgeier share during the second half of 2014 is\nunsatisfactory in this context. After reaching highs of up to more than EUR\n19.00 during the first half of 2014, the share price fell considerably\nduring the second half of 2014 to a level of around EUR 14.00 at the end of\n2014. The share has since recovered a little to a level above EUR 16.00.\nThis corresponds to a market capitalisation of EUR 150 million.\n\nOver recent months, various parties have expressed a general interest to\nthe company in acquiring various individual participating interests or\nindividual operating segments from the portfolio. Given this, the\nmanagement has conducted its own calculations of the values of the\nindividual operating segments through peer group comparisons based on what\nthe management believes are appropriate EBITDA multiples (enterprise\nvalue\/EBITDA 2014\/2015). Applying the 2015 expected EBITDA for the\nindividual business areas - including acquisitions already realised or\nexpected in 2015 - a total value of around between EUR 330 million and EUR\n400 million is derived for the operating segments (enterprise values before\ndeducting net assets\/liabilities). The management is of the opinion that\nthe individual segments make the following contributions in this context:\nExperts EUR 130 million to EUR 150 million, Projects EUR 150 million to EUR\n185 million, and Solutions EUR 50 million to EUR 65 million.\n\nFor an overall valuation of the Allgeier Group, the Group's net debt\n(almost EUR 30 million as of December 31, 2014), the purchase prices of the\ncompanies acquired in 2015 or the entities still to be acquired, and their\nfinancial statements, as well as the holding company's negative EBITDA\ncontribution of around EUR 5 million for 2015 are to be taken into account.\n\nGiven these rough value estimates, the Management Board sees a marked\ndiscrepancy between the current market capitalisation of around EUR 150\nmillion and the operating segments' intrinsic value. Together with selected\ninvestment banks, the company is currently discussing options to structure\nthe composition of the investment portfolio more clearly and more\nattractively for the capital market. Besides ongoing acquisition activity,\nthe company is also examining the disposal or spin-off of parts of the\nportfolio on the capital market in this context.\n\nThe 2014 Annual Report will be published on April 30, 2015, when it can be\nviewed at www.allgeier.com.\n\nContact:\n\nAllgeier SE\nCorporate Communications &amp; Investor Relations\nDr. Christopher Gro\u00dfe\nWehrlestra\u00dfe 12\n81679 Munich\nTel.: +49 (0)89\/998421-0\nFax: +49 (0)89\/998421-11\nE-Mail: ir@allgeier.com\nWeb: www.allgeier.com\n\nAllgeier SE is one of the leading IT companies for Business Performance\ntoday: Allgeier combines the advantages of an international provider with\nthe merits of medium-sized companies with a growth strategy oriented\nconsistently to innovations and future trends, and an integrative business\nmodel. Operating segments, each with their individual specialist or\nsector-related focal points, work together for more than 3,000 customers\nfrom almost all sectors. With more than 5.300 salaried employees and over\n1.200 freelance IT experts, Allgeier, as a one-stop shop, offers customers\na comprehensive portfolio of solutions and services. With a highly flexible\ndelivery model, Allgeier covers the full range of IT services, from on-site\nand nearshore through to offshore: A strong presence in India ensures\nflexibility and maximum scalability of the services, supplemented by highly\nqualified expertise in high-end software development. Allgeier's customers\ninclude globally operating groups as well as innovative medium-sized\noperations that wish to secure strategic advantages through high-performing\nIT solutions, intelligent software and flexible personnel services. This\nhigh-growth company, which is based in Munich, Germany, operates at 100\nsites in the German-speaking region, and at further locations in the rest\nof Europe, as well as in India, Singapore, Mexico and the USA. In 2014\nAllgeier generated EUR 428 million of revenue (continued operations).\nAllgeier SE was ranked first in the L\u00fcnendonk(R) List 2014 of \"Leading\nGerman medium-sized IT consulting and system integration companies\".\nAllgeier Experts ranks among the top three IT personnel service-providers\nin Germany according to the L\u00fcnendonk(R) 2014 market segment study \"The\nmarket for recruiting, mediating and managing IT freelancers in Germany\".\nThe company is listed on the regular market of the Frankfurt Stock Exchange\nin the General Standard segment (WKN 508630\/ISIN DE0005086300). Further\ninformation is available on the company's website at: www.allgeier.com.\n\n\n21.04.2015 The DGAP Distribution Services include Regulatory Announcements,\nFinancial\/Corporate News and Press Releases.\nMedia archive at www.dgap-medientreff.de and www.dgap.de\n\n---------------------------------------------------------------------------\n \nLanguage:     English\nCompany:      ALLGEIER SE\n              Wehrlestra\u00dfe 12\n              81679 M\u00fcnchen\n              Germany\nPhone:        +49 (0) 89 - 99 84 21 0\nFax:          +49 (0) 89 - 99 84 21 11\nE-mail:       info@allgeier.com\nInternet:     http:\/\/www.allgeier.com\nISIN:         DE0005086300\nWKN:          508630\nIndices:      CDAX\nListed:       Regulated Market in Frankfurt (General Standard); Regulated\n              Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart\n \nEnd of Announcement                             DGAP News-Service\n \n---------------------------------------------------------------------------\n\n<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Munich, April 21, 2015 &#8211; The Supervisory Board of Allgeier SE (ISIN DE0005086300, WKN 508630) at its meeting on April 21, 2015, has approved the audited separate and consolidated financial statements for Allgeier SE for the 2014 financial year. The separa<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[56],"class_list":["post-6489","post","type-post","status-publish","format-standard","hentry","category-adhoc-announcements","tag-adhoc-announcements"],"_links":{"self":[{"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/posts\/6489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/comments?post=6489"}],"version-history":[{"count":4,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/posts\/6489\/revisions"}],"predecessor-version":[{"id":11122,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/posts\/6489\/revisions\/11122"}],"wp:attachment":[{"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/media?parent=6489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/categories?post=6489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/tags?post=6489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}