Allgeier SE Reports H1 2024 Performance Impacted by OZG Amendment Act Delay

Munich, 06 August 2024 – Allgeier SE's first half of 2024 sales and earnings were notably affected by a delay in the Online Access Act (OZG) Amendment. Initially passed by the Bundestag in February, the amendment was unexpectedly blocked in the Bundesrat, delaying several federal and state-level digitalization projects.

This blockade caused Allgeier SE, including subsidiaries mgm technology partners and publicplan, to miss out on around EUR 10 million in revenue. Consequently, Group sales fell to EUR 225 million, down from a planned figure of over EUR 240 million, and adjusted EBITDA dropped to EUR 23 million.

However, an agreement in June allowed the OZG Amendment Act to take effect on 24 July 2024. This is expected to improve demand, particularly in public sector projects, in the second half of the year.

Projected H2 2024 sales are between EUR 250 million and EUR 260 million, with adjusted EBITDA anticipated around EUR 40 million. For 2024 overall, Group sales are expected to reach EUR 475 million to EUR 480 million, with an adjusted EBITDA of approximately EUR 63 million.