Allgeier SE Meets 2024 Earnings Target Amid Economic Challenges

Allgeier SE reported achieving its 2024 earnings guidance, amidst a challenging economic environment. The company's operations were notably affected by delays in digitalization projects for public sector clients and the sale of its personnel services division. Despite these hurdles, the unaffected segments met their targets, with a total operating performance of EUR 457 million, down from EUR 496 million in the previous year. Adjusted EBITDA reached EUR 55.8 million, in line with prior forecasts.

The ongoing operations, excluding the divested Experts Group, recorded a total operating performance of EUR 411 million. The delays led to a missed revenue of approximately EUR 25 million. However, the gross margin improved to 36.1%, supporting a gross profit of EUR 148.4 million. EBIT for continuous operations slightly decreased to EUR 28.8 million.

As of the end of 2024, Allgeier's net debt saw a slight increase, attributed to cash and financial liabilities movements. The equity rose to EUR 194 million, bolstering the equity ratio above 41%.

The company reaffirms its 2025 guidance, indicating confidence despite previous setbacks. The full 2024 Annual Report is scheduled for release on April 30, 2025.