DGAP-News: Allgeier continues to report significant growth in 2011, and occupies important future trend areas
(firmenpresse) - DGAP-News: ALLGEIER HOLDING AG / Key word(s): Final Results
Allgeier continues to report significant growth in 2011, and occupies
important future trend areas
17.04.2012 / 18:00
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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.
Contact:
Allgeier Holding AG
Dr. Christopher Grosse
Wehrlestrasse 12
81679 Munich
Tel.: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11
E-mail: ir(at)allgeier-holding.de
Web: www.allgeier.com
Munich-based Allgeier Holding AG is one of the leading consulting and
service companies in the German-speaking region. The Allgeier Group's
services are divided into the three segments of IT Solutions, IT Services&Recruiting, and Project Solutions. With more than 2,500 employees and over
1,500 freelance IT experts, the Allgeier Group offers its customers a
complete service approach spanning design, implementation, and through to
the operation of IT landscapes. Fourteen corporate units, each with its own
specialist and sector-related focus, work together for around 2,000
customers from almost all sectors. This high-growth company currently
operates at more than 50 sites in the German-speaking region, and at 23
further locations in the rest of Europe, as well as in India, Mexico and
the USA. The company is listed on the regular market of the Frankfurt Stock
Exchange in the General Standard segment. Further information is available
on the company's website at: www.allgeier.com.
End of Corporate News
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17.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: ALLGEIER HOLDING AG
Wehrlestraße 12
81679 München
Germany
Phone: +49 (0) 89 - 99 84 21 0
Fax: +49 (0) 89 - 99 84 21 11
E-mail: info(at)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 News DGAP News-Service
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