Allgeier Increases Profitability and Achieves Double-Digit Revenue and Profit Growth in First Nine Months of 2021

ALLGEIER SE / Keyword (s): Figures 9 months
Allgeier Increases Profitability and Achieves Double-Digit Revenue and Profit Growth in First Nine Months of 2021

25-Oct-2021 / 03:28 PM CET / CEST
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Munich, October 25, 2021 – According to preliminary figures, Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) recorded revenue growth of 11% in the first nine months of 2021 (January 01, 2021 – September 30, 2021) with a significantly disproportionate increase in profits. In the third quarter of 2021, the Group increased its sales by 17%. Adjusted EBITDA margin increased to 11% in the third quarter.

Commercial performance of continuing operations in the first nine months of 2021

In total, the turnover of the continuing activities of the Allgeier group increased by 11% to reach 291.2 million euros in the first nine months of 2021 compared to the first nine months of 2020 (previous year: 263, 1 million euros). Gross margin (defined as total operating performance less cost of sales and personnel expenses directly attributable to sales) increased 19% to € 89.3 million during this period (previous year: 74, 9 million euros), which corresponds to a gross margin of 31%. Adjusted EBITDA (profit before amortization and impairment on property, plant and equipment, interest and taxes, adjusted for exceptional items and items relating to other periods) increased by 41% to € 28.7 million (previous year) : 20.3 million euros), corresponding to an adjusted EBITDA margin of 10%. The adjustments include in particular an exceptional item for the second quarter of 2021 for an amount of € 6.1 million resulting from the valuation of 900,000 stock options issued in June 2021 with a term of ten years. This amount is allocated to personnel costs and thus reduces the elements of the result in the second quarter of 2021, but is not relevant for cash as there is a corresponding contingent capital for the subsequent exercise of the option rights. EBITDA increased by 53% to reach 22.4 million euros during the reporting period after exceptional items (previous year: 14.6 million euros). EBIT for the period (profit before interest and taxes) amounted to 9.5 million euros (previous year: 3.5 million euros), which corresponds to an increase of 172%. Adjusted EBIT for the first three quarters of 2021 was € 17.7 million (previous year: € 9.9 million).

Group key figures *

Q1-Q3 2021

Q1-Q3 2020

Switch

Income

291.2

263.1

+ 11%

Gross profit

89.3

74.9

+ 19%

Adjusted EBITDA

28.7

20.3

+ 41%

EBITDA

22.4

14.6

+ 53%

Adjusted EBIT

17.7

9.9

+ 79%

BAII

9.5

3.5

+ 172%

* Continuing operations under IFRS, figures in millions of euros (unless otherwise indicated)

Commercial performance of continuing operations in the third quarter of 2021

In the third quarter of 2021 (July 1, 2021 – September 30, 2021), the Allgeier group increased revenue from continuing operations by 17% year-on-year to reach 98.8 million euros (previous year: 84.6 million euros). During the same period, the gross margin increased by 12% to 31.8 million euros (previous year: 28.3 million euros), which corresponds to a gross margin of 32%. At 10.7 million euros, adjusted EBITDA was 6% higher than the same period of the previous year (previous year: 10.1 million euros). This corresponds to an adjusted EBITDA margin of 11%. Third quarter EBITDA amounted to 10.4 million euros (previous year: 6.6 million euros), which corresponds to an increase of 58% compared to the same period of the year former. EBIT increased 112% to 5.7 million euros (previous year: 2.7 million euros). Adjusted EBIT amounted to € 6.7 million (previous year: € 6.5 million).

Key figures in the balance sheet at September 30, 2021

According to preliminary figures, the consolidated shareholders’ equity of the Allgeier group has increased to reach 112.1 million euros at the balance sheet date on September 30, 2021 (December 31, 2020: 105.5 million euros). The Group had cash and cash equivalents of € 57.2 million at the end of the third quarter of 2021 (December 31, 2020: € 60.8 million). The Group’s net financial debts (including debts related to rental and lease contracts) amounted to 65.4 million euros at the closing date (December 31, 2020: net cash of 1.2 million euros). euros). Due in particular to the acquisition activity during the first nine months of the year, current and non-current financial liabilities increased to € 80.0 million at the closing date (December 31, 2020: 28, 6 million euros). Total assets amounted to € 326.3 million as of September 30, 2021 (December 31, 2020: € 243.9 million).

Outlook for the fourth quarter of 2021

To date, Allgeier SE confirms the adjusted forecasts for fiscal year 2021, which were published in the ad hoc announcement of July 29, 2021 and in the half-year financial report 2021.

Remarks

Allgeier SE’s voluntary interim information as of September 30, 2021 will be published on November 12, 2021 and can then be viewed on www.allgeier.com.

All figures shown have been prepared in accordance with IFRS, are preliminary and have not been audited.

It should also be noted that the information provided for periods after September 30, 2021 represents the Management Board’s expectations based on assumptions and estimates. Actual future developments and actual future results may differ from these assumptions and estimates. Allgeier SE assumes no guarantee and no responsibility that future developments and actual results obtained in the future will correspond to the assumptions and estimates expressed in this ad hoc announcement.

This document contains additional financial measures – which are not precisely defined in the relevant financial statements – which are or may be alternative performance measures. These additional financial measures may be of limited use as an analytical tool and should not be used in isolation or as an alternative to financial measures presented in the consolidated financial statements and determined in accordance with the relevant financial reporting frameworks for assessing the financial position, financial performance and cash flow of Allgeier SE. Other companies that present or report alternative performance measures with a similar title may calculate them differently and therefore they may not be comparable. For more information on the alternative performance measures used by Allgeier SE, please refer to the 2020 annual report.

Contact:

Allgeier SE
Corporate communication and investor relations
Dr Christopher Große
Einsteinstr. 172
81677 Munich
Phone. : +49 (0) 89 / 998421-0
Fax: +49 (0) 89 / 998421-11
Email: [email protected]
Web: www.allgeier.com

25-Oct-2021 CET / CEST DGAP’s distribution services include regulatory announcements, financial / corporate news and press releases.
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