09.07.2018
ALLGEIER SE DE000A2GS633
DGAP-Adhoc: ALLGEIER SE: Allgeier sets new corporate strategy
DGAP-Ad-hoc: ALLGEIER SE / Key word(s): Strategic Company Decision
ALLGEIER SE: Allgeier sets new corporate strategy
09-Jul-2018 / 15:44 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Munich, July 9, 2018 - The Management Board of Allgeier SE (ISIN
DE000A2GS633, WKN A2GS63) decided today on the further strategic direction
of the Allgeier Group.
In previous years, Allgeier has grown strongly through acquisitions and has
built up a broad portfolio of various, differently integrated companies. In
recent years, Allgeier has focused on the three segments Experts, Enterprise
Services and Technology. While the two divisions Technology and Enterprise
Services are growing closer together in the areas of consulting, software
development and software services, in particular also through the current
topics HANA, Cloud, IoT and Multi Channel Commerce, Allgeier Experts with
its specialized personnel services business in the German-speaking region
represents a clearly complementary activity with a differing business model.
As a result, Allgeier today consists of two large business units with
significantly different business models under the umbrella of the listed
Allgeier SE.
The Management Board has made the decision to expand both divisions more
systematically and independently in the coming years:
- The strategic goal for Allgeier SE is the intensive expansion of the
international software development and services business, which is now
divided into the Technology and Enterprise Services divisions. The next step
was the acquisition of Objectiva Software Solutions, Inc., San Diego, USA.
Further acquisitions are planned. The goal is to create a modern and
scalable matrix organization with very flat structures that is aligned
according to Markets/Geographies, Industry Verticals, Technologies/Skills.
Future integration will not be based on legal entities or management
hierarchies, but on a modern matrix structure that meets market
requirements.
- For Allgeier Experts, the Management Board also sees a clear growth
potential following the realignment carried out in the recent two years.
Allgeier Experts intends to significantly expand its market position as one
of the leading personnel services companies specializing in the technology
sector, IT and engineering through acquisitions, entry into further markets,
the expansion of international recruiting with corresponding training
concepts and new software-based recruiting methods, and to expand strongly.
As a result, a split into Technology/Software Services and Experts will come
to the fore in the near future. Due to the differences between the two
business units in terms of business model, peer group and capital market
perception, neither the existing growth opportunities can be sufficiently
exploited nor a fair capital market valuation can be achieved under a common
roof with limited resources. For both parts of the company, more independent
further development is a much more attractive option. Their own image and
standing in the market can be sharpened considerably. Access to sources of
finance - both capital markets and credit institutions or private sources of
finance - should be possible for both units directly. Strategic development
options can be assessed and decided in a more targeted manner.
The Management Board of Allgeier SE has therefore decided to separate the
two parts of the company within a timeframe of the next 18 months and to
spin off the Allgeier Experts division. All possibilities are examined with
the support of appropriate professional partners. This ranges from the IPO
of one of the two units to a split into two independently listed companies
as well as further strategic options with a view to private sources of
financing to prepare the company for its own capital market capability and
acquisitions or mergers to achieve an attractive size.
Above all, the step is intended to greatly increase the dynamics of further
development and profile in the respective business model. The aim of the
separation is to be able to continue the establishment of two market-leading
units with significant acceleration and intensity:
- Allgeier SE is focusing its further development on the divisions
Technology, consisting of Nagarro, mgm technology partners and Objectiva, as
well as Enterprise Services, which together with sales of around 400 million
EUR planned for 2018, approx. 6,000 employees and customers in more than 30
countries are on the threshold of becoming a globally relevant player in the
field of software development and future technologies. This path is to be
accelerated with further targeted acquisitions and an intelligent structure
that favors integration as well as organic growth and scaling. The peer
group includes companies like Globant, EPAM Systems, GlobalLogic, but to a
certain extent also global players like Accenture, TCS, Infosys or
Cognizant. In times of massive upheaval, it will be important in future
competition not only to provide qualified specialists for customers, but
also to provide the decisive ideas and contributions for the repositioning
of customers' business models. Allgeier already sees itself excellently
positioned here.
- Following its realignment and separation from Allgeier SE, Allgeier
Experts is on the threshold of developing from one of Germany's leading
personnel and recruitment service providers to a more internationally active
player with a comprehensive service portfolio and sales of more than EUR 300
million planned for 2018. This requires further investments in cross-border
recruitment and training concepts as well as the development of new markets
through organic development, acquisitions and strategic partnerships. The
peer group basically includes companies such as Adecco, Randstad/Gulp,
Manpower/Experis, Recruit, Outsourcing, Technopro, Hays, Amadeus Fire or
Brunel. As a first step, further acquisitions and growth in the domestic
German market are aimed at in order to further expand the market-leading
position and to further increase the growth momentum achieved.
The Management Board will work out the details of the future setup with the
respective management teams. The aim is to continue to maintain and expand
the good cooperation between the two corporate units. The Management Board
is convinced that both Allgeier SE and the Experts division will experience
an acceleration in their development after the separation and spin-off of
the personnel services business.
Contact:
Allgeier SE
Corporate Communications & Investor Relations
Dr. Christopher Große
Wehrlestraße 12
81679 Munich
Phone: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11
E-Mail: [email protected]
Web: www.allgeier.com
Allgeier SE is one of the leading IT companies for digital transformation:
with a growth strategy oriented to innovations and future trends, as well as
an integrative business model, Allgeier exploits the opportunities that
digitization offers. Three operating segments with individual specialist and
sector-related focus areas work together for around 3,000 customers from
almost all business sectors. With around 8,000 salaried employees and about
1,400 freelance experts, Allgeier offers its customers an extensive
one-stop-shop range of solutions and services. Based on a highly flexible
delivery model, Allgeier covers the entire IT service spectrum from on-site
through to nearshore and offshore: with strong business pillars in India and
China, the company secures flexibility and maximum scalability of services,
as well as highly qualified high-end software development expertise.
Allgeier customers include globally operating groups as well as innovative
medium-size business operations that aim to secure strategic advantages
through high-performance IT solutions, intelligent software and flexible
personnel services. This Munich-based, fast-growing Group maintains more
than 120 branches in the region of Germany, Austria and Switzerland, in ten
further European countries, as well as in India, China, Singapore, Vietnam,
Malaysia, Japan, Australia, South Africa, Mexico and the USA. Allgeier
generated EUR 574 million of revenue in 2017 (continued operations).
Allgeier SE ranks first in the 2017 Lünendonk(R) special analysis of
"Leading German Medium-Sized IT Consultants and System Integrators".
According to the Lünendonk(R) 2017 market segment study "The Market for
Recruiting, Mediating and Managing IT Freelancers in Germany", Allgeier
Experts ranks among Germany's top three IT personnel service providers.
Allgeier SE is listed on the Regulated Market of the Frankfurt Stock
Exchange (WKN A2GS63, ISIN DE000A2GS633). For more information, visit:
www.allgeier.com.
---------------------------------------------------------------------------
09-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: ALLGEIER SE
Wehrlestraße 12
81679 München
Germany
Phone: +49 (0) 89 - 99 84 21 0
Fax: +49 (0) 89 - 99 84 21 11
E-mail: [email protected]
Internet: http://www.allgeier.com
ISIN: DE000A2GS633
WKN: A2GS63
Indices: CDAX
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
---------------------------------------------------------------------------
702769 09-Jul-2018 CET/CEST
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
ALLGEIER SE ISIN: DE000A2GS633 können Sie bei EQS abrufen
IT-Services , A2GS63 , AEIN , XETR:AEIN