ALLGEIER SE / Key word(s): Forecast
Munich, September 23, 2020 - Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) provides the following guidance for the 2020 financial year: For the remainder of the 2020 financial year, the Management Board expects the stable development of the first eight months to continue. The expected revenues of the overall Group in the 2020 financial year will prospectively be in the same range as in the previous year. The adjusted EBITDA margin is expected to be in the range of 10 to 12 percent. For the Nagarro segment, which is planned to be spun off, revenue growth in the mid single-digit percentage range is expected with an adjusted EBITDA margin in the range of 15 to 17 percent. The remaining Allgeier Group after the planned spin-off of Nagarro is expected to see a mid-single-digit percentage revenue decline, mainly due to the planned continuation of the reduction of business in the area of personnel services, and an adjusted EBITDA margin in the range of 6 to 8 percent.
To the extent this announcement contains statements related to our future business and financial performance and future events or developments involving the Allgeier Group and which may constitute forward-looking statements, these statements may be identified by words such as "expect", "forecast", "anticipate", "intend", "plan", "believe", "seek", "estimate", "will", "target" or words of similar meaning. Such statements are based on the current expectations and certain assumptions of Allgeier's management, of which many are beyond Allgeier's control. Future actual developments and future actual results may differ from these assumptions and estimates. Allgeier SE gives no guarantee and assumes no liability that future developments and the actual results achieved in the future will correspond to the assumptions and estimates expressed in this announcement. All forward-looking statements only speak as of the date when they were made and Allgeier neither intends, nor assumes any obligation, unless required by law, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
This announcement contains supplementary financial indicators, which are or may be alternative performance indicators, not precisely defined in the relevant accounting framework. These supplementary financial indicators may have limited suitability as an analytical tool and should not be used in isolation or as an alternative to the financial indicators presented in the consolidated financial statements and determined in accordance with relevant accounting frameworks in order to assess the net assets, financial position and results of operations of Allgeier SE. Other companies that present or report alternative performance indicators with a similar designation may calculate them differently and may therefore not be comparable. Further information on the alternative performance indicators used by Allgeier SE can be found in the Annual Report 2019.
Allgeier SE is one of the leading technology companies for digital transformation: Allgeier guides its clients through the challenges of digital change to ensure their future success. For global corporations and market and industry leaders from many verticals and geographies Allgeier is thinking breakthroughs for new digital business models, taking strategic priorities and executing fast and without fuss groundbreaking projects to create agile and intelligent enterprise for the digital era. With nearly 11,000 salaried employees and more than 1,000 freelance experts, Allgeier uses a highly flexible delivery model to cover the entire IT service spectrum from onsite to nearshore to offshore - with strong footholds in India, China, Vietnam and Eastern Europe. The fast-growing group, headquartered in Munich, Germany, has around 130 offices worldwide in 28 countries across five continents. In the 2019 financial year, Allgeier generated consolidated sales of EUR 784 million with more than 2,000 customers. According to the Lünendonk(R) List 2020, Allgeier is one of the leading IT consulting and system integration companies in Germany. According to Lünendonk(R)-List 2020, Allgeier Experts is one of the leading personnel service providers for the recruitment, placement and management of IT freelancers in Germany. Allgeier SE is listed on the Regulated Market of the Frankfurt Stock Exchange in the General Standard (WKN A2GS63, ISIN DE000A2GS633). Further information is available at: www.allgeier.com.
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