{"id":6543,"date":"2012-04-17T15:56:50","date_gmt":"2012-04-17T15:56:50","guid":{"rendered":"https:\/\/allgeier-se.seowerk.net\/?p=6543"},"modified":"2025-09-03T20:14:26","modified_gmt":"2025-09-03T18:14:26","slug":"allgeier-holding-ag-supervisory-board-approves-annual-financial-statements-and-makes-dividend-proposal","status":"publish","type":"post","link":"https:\/\/allgeier-se.seowerk.net\/en\/adhoc-announcements\/allgeier-holding-ag-supervisory-board-approves-annual-financial-statements-and-makes-dividend-proposal\/","title":{"rendered":"Allgeier Holding AG: Supervisory Board approves annual financial statements, and makes dividend proposal"},"content":{"rendered":"<pre>\n<b>ALLGEIER HOLDING AG  \/ Key word(s): Final Results<\/b>\n\n17.04.2012 17:56\n\nDissemination of an Ad hoc announcement according to \u00a7 15 WpHG, transmitted\nby DGAP - a company of EquityStory AG.\nThe issuer is solely responsible for the content of this announcement.\n\n---------------------------------------------------------------------------\n\nThe Supervisory Board of Munich-based Allgeier Holding AG (ISIN DE000508630\n\/ WKN 508630), one of the leading companies in the German IT sector, has\napproved the audited single-entity and consolidated financial statements of\nAllgeier Holding AG for the 2011 financial year at its meeting held on\nApril 17, 2012. The annual financial statements have been adopted as a\nconsequence. The final consolidated results slightly exceeded the\npreliminary results announced in the unscheduled press release of February\n16, 2012.\n\nIFRS revenue and earnings trends\n\nAllgeier Holding AG continued to report significant growth in the 2011\nfinancial year (January 1, 2011 until December 31, 2011). Consolidated\nrevenue (on IFRS basis) was up by EUR 70.1 million to reach EUR 378.8\nmillion as of December 31, 2011, due to the good economic environment, the\nacquisitions that the company realised, and organic growth (previous year:\nEUR 308.7 million). This represents 23 percent growth. Operating cash flow\n(before working capital changes) grew by 31 percent from EUR 21.6 million\nin the previous year to EUR 28.4 million. EBITDA as reported in the\nconsolidated financial statements also underwent a year-on-year improvement\nof 23 percent to reach EUR 22.3 million (previous year: EUR 18.1 million). \nEBITDA incurred a EUR 1.3 million charge arising from currency effects\nreflecting payments and balance sheet date currency translation (previous\nyear: EUR -0.3 million). Earnings before interest, tax and amortisation\nrelating to purchase price allocations, and from the earnings-effective\nadjustment of earnout pursuant to IFRS (EBITA) grew by 22 percent to EUR\n19.0 million (previous year: EUR 15.6 million). At EUR 12.0 million,\nearnings before interest and tax (EBIT) rose faster than EBITA, and were up\nby 8 percent (previous year: EUR 11.0 million). This earnings figure has\nbeen significantly affected by acquisition activities in 2010 and 2011. In\naccounting terms, these acquisitions resulted in a rise of around EUR 2.3\nmillion in IFRS amortisation applied to purchase price allocations (in\nother words, amortisation applied to order book positions, customer bases\nand products) to reach approximately EUR 7.2 million (previous year: EUR\n4.8 million). The EBT of EUR 9.5 million that was achieved (previous year:\nEUR 10.2 million) was burdened by a net financial result of EUR -2.5\nmillion (previous year: EUR -0.9 million). Loans taken out to finance\ngrowth fed through to a significantly higher interest burden in this\ncontext. At EUR 5.3 million, earnings after tax were below the previous\nyear's figure of EUR 8.7 million. This reduction is also attributable to a\nnegative tax effect. Compared with a EUR 1.5 million tax expense in 2010,\nAllgeier incurred EUR 4.2 million of taxes on income in 2011. The high tax\nrate is largely due to the inability to utilise loss carryforwards in 2011\nas a result of structural effects, whereby the company intends to utilise\nthese loss carryforwards in subsequent years. Earnings per share fell from\nEUR 0.99 in 2010 to EUR 0.52 in the year under review. Adjusted earnings\nper share, which are formed on the basis of EBITA (in other words, adjusted\nto reflect effects arising from amortisation applied to purchase price\nallocations), and which are also adjusted for effects arising from the\nchange to the tax rate (through assuming a constant 30 percent percent tax\nrate), rose by 7 percent from EUR 1.18 in 2010 to EUR 1.27 in 2011.\n\nKey balance sheet figures\n\nTotal assets increased to EUR 242.1 million (previous year: EUR 204.1\nmillion). Consolidated equity stood at EUR 88.2 million as of December 31,\n2011 (previous year: EUR 85.5 million), with the equity ratio declining\nfrom EUR 41.9 million at the end of 2010 to EUR 36.4 million as of December\n31, 2011, due to the increase in total assets. Current and non-current\nfinancial liabilities (including liabilities relating to profit\nparticipation rights) fell to EUR 41.4 million as of December 31, 2011\n(previous year: EUR 45.5 million). Cash and cash equivalents declined to\nEUR 31.9 million (previous year: EUR 61.3 million). Outgoing payments for\ncorporate acquisitions are primarily responsible for the reduction in cash\nand cash equivalents.\n\n\nApplication of unappropriated retained earnings\nThe Management and Supervisory boards have passed a resolution today, April\n17, 2012, to propose to the AGM that it approves the distribution of a\ndividend of EUR 0.50 per share to shareholders from the unappropriated\nretained earnings of EUR 41,419,801.12 as reported in the financial\nstatements of Allgeier Holding AG as of December 31, 2011. The remaining\nretained earnings are to be carried forward to a new account.\n\nOutlook\n\nThe Management Board expects sustained consolidated earnings growth in the\nlow double-digit percentage range for the 2012 financial year, with\nearnings rising at a faster rate.\n\n\nThe 2011 annual report was published today, April 17, 2012, and is\navailable on the company's website at www.allgeier.com.\n\n\nContact:\nAllgeier Holding AG\nDr. Christopher Grosse\nWehrlestr. 12\n81679 Munich \/ Germany\nPhone +49 89 998421-0\nFax   +49 89 998421-11\neMail: ir@allgeier-holding.de \nWeb: www.allgeier.com\n\nMunich-based Allgeier Holding AG is one of the leading consulting and\nservice companies in the German-speaking region. The Allgeier Group's\nservices are divided into the three segments of IT Solutions, IT Services &amp;\nRecruiting, and Project Solutions. With more than 2,500 employees and over\n1,500 freelance IT experts, the Allgeier Group offers its customers a\ncomplete service approach spanning design, implementation, and through to\nthe operation of IT landscapes. Fourteen corporate units, each with its own\nspecialist and sector-related focus, work together for around 2,000\ncustomers from almost all sectors. This high-growth company currently\noperates at more than 50 sites in the German-speaking region, and at 23\nfurther locations in the rest of Europe, as well as in India, Mexico and\nthe USA. The company is listed on the regular market of the Frankfurt Stock\nExchange in the General Standard segment (WKN 508630 \/ ISIN DE000508630).\nFurther information is available on the company's website at:\nwww.allgeier.com.\n\n\n17.04.2012 DGAP's 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 HOLDING AG\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:       Regulierter Markt in Frankfurt (General Standard);\n              Freiverkehr in Berlin, D\u00fcsseldorf, Hamburg, Stuttgart\n \nEnd of Announcement                             DGAP News-Service\n \n---------------------------------------------------------------------------\n\n<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>The Supervisory Board of Munich-based Allgeier Holding AG (ISIN DE000508630 \/ WKN 508630), one of the leading companies in the German IT sector, has approved the audited single-entity and consolidated financial statements of Allgeier Holding AG for the 2<\/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-6543","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\/6543","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=6543"}],"version-history":[{"count":4,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/posts\/6543\/revisions"}],"predecessor-version":[{"id":11136,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/posts\/6543\/revisions\/11136"}],"wp:attachment":[{"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/media?parent=6543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/categories?post=6543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allgeier-se.seowerk.net\/en\/wp-json\/wp\/v2\/tags?post=6543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}