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Germany – Stronger Q2 lifts Allgeier’s preliminary half-year results

05 August 2015

After a weaker than expected first quarter, Munich-based IT staffing and software firm Allgeier (AEI: GR) in its preliminary results announced that the company achieved clear double-digit growth in the second quarter.

As a result, the company’s half-year results are expected to be on par with the same period last year.

According to the company’s preliminary results, revenue and earnings for the second quarter were as follows:

  2Q15 Change with 2Q14
Revenue €121.0 million +20%
EBITDA €8.0 million +30%
EBIT €3.7 million +54%

For the six months ending 30 June 2015, Allgeier’s revenue and earnings were as follows:

  1H15 Change with 1H14
Revenue €239 million +16%
EBITDA €12.1 million +5%
EBIT €3.2 million -36%

The company attributed the EBIT decrease to costs associated with the acquisitions of Networker Project Consultancy (Projektberatung) in May 2015 and Search Consult in April 2015.

Looking forward to the second half of the year, Allgeier expect growth to continue, with sales forecast to increase by more than 20% compared with last year.

In trading today, the company’s share price increased by 0.1% to €18.10, an increase of 27.2% compared with a year ago. Based on its current share price, the company has a market value of €166.6 million.