Allgeier SE Reports Double-Digit Growth in Software and IT Services for 2023

On March 7, 2024, the Munich-based technology company Allgeier SE announced achieving double-digit growth in its software and IT services business for the financial year 2023, according to preliminary results. The company, listed under ISIN DE000A2GS633 and WKN A2GS63, detailed a continued transformation leading to a total operating performance of EUR 496 million, slightly higher than the preceding year.

The software and IT services sector of Allgeier SE reported a remarkable sales increase of over 20%, contributing EUR 326 million out of the total performance, while the personnel services sectors witnessed a 21% decline as part of the company's ongoing strategic realignment. Despite these shifts, Allgeier SE maintained a steady adjusted EBITDA of EUR 61 million and reported an EBIT of EUR 32 million for the year.

Financial stability remains a cornerstone of Allgeier SE's operation, with the year ending in cash and cash equivalents of EUR 83 million. The firm confirmed its financial outlook for 2024, anticipating sales between EUR 510 million to EUR 550 million and an adjusted EBITDA in the range of EUR 63 million to EUR 69 million. This projection underscores Allgeier's ambition for sustained growth and profitability, emphasizing the successful transition towards becoming a more focused and efficient organization.