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WE KEEP YOU UP TO DATE

CLIA Technology Initiative - Round Table Event

How can technology contribute to the challenges and the many opportunities the global cruise industry is facing? That is what has been discussed during the Round Table Event in Hamburg.

The intimate event will involve all members and participants of CLIA, leading to a series of concrete actions and activities that will enable the CLIA Technology Initiative to address some of the key challenges facing the cruise industry. 

BSH IT Solutions representatives had many conversations with other industry experts and participated in many interesting discussions.

Many thanks to the Cruise Line International Association for bringing us together and exchanging ideas.

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BSH IT Solutions becomes CLIA Executive Gold Partner

Since 15 years BSH provides IT infrastructure for maritime customers from communications to networks to data centers – we are now a proud member of the CLIA Executive Partner Program.

This is to show our long standing strong commitment to the Cruise industry, and to enhance and develop our relationship with Cruise lines, operators, suppliers and other industry stakeholders,“ declares Greg Stute, Director Business Development Maritime of BSH IT Solutions GmbH.

BSH IT Solutions offers IT infrastructure for network and data center, specializing to meet requirements of the Cruise industry, covering the full lifecycle from design to implementation to maintenance.

Our team of certified project managers and engineers have extensive experience with maritime projects and requirements. Our organization and processes are ISO 27001 certified. With close vicinity to European shipyards, and a dedicated staging area large enough to stage the entire IT infrastructure of a full size cruise vessel, all our products and services are tailored to the Cruise customer.

We are a subsidiary of global Allgeier SE group with 10,300 employees and branches in 25 countries, which gives us fast access to specialist knowledge and an international workforce.

Established in 1975, Cruise Lines International Association (CLIA) is the world’s largest cruise industry trade association, providing a unified voice and leading authority of the global cruise community. The community of CLIA consists of more than 50 cruise lines, over 350 executive partners and 25,000 tavel agent members.

Learn more about Cruise IT von BSH IT Solutions | All infos in a video

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Allgeier successfully completes capital increase

Publication of inside information pursuant to Art. 17 MAR

Munich, June 13, 2019 – Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) has successfully completed its capital increase as announced on June 13, 2019.

The company increased its share capital by EUR 997,864.00 from the current EUR 10,088,649.00 to EUR 11,086,513.00 through the partial utilization of Authorized Capital 2018 by issuing a total of 997,864 no-par value registered shares against cash capital contributions under exclusion of shareholders’ statutory subscription rights. The new shares carry full dividend rights from January 1, 2019.

The placement price set by the company’s Management Board with consent of the Supervisory Board, amounted to EUR 24.00 per share. The new shares were placed with international institutional investors, the company’s directors and other managers of Allgeier Group in accordance with the applicable exceptions for private placements in Europe without a securities prospectus. In determining the placement price, the fact that the new shares are only entitled to dividends for the current 2019 financial year and that the Annual General Meeting of the company has not yet resolved on the appropriation of profits for the past 2018 financial year was taken into account.

After registration of the implementation of the capital increase with the commercial register of the local court of Munich, the new share capital amounts to EUR 11,086,513.00 and is divided into 11,086,513 no-par value registered shares. The registration of the implementation of the capital increase with the commercial register of the local court of Munich is expected to occur on June 17, 2019. The new shares are expected to be admitted to trading without a securities prospectus on June 17, 2019 in the Regulated Market of the Frankfurt Stock Exchange (General Standard). The initial listing for the new shares from the capital increase under ISIN DE000A2YNUT5 is planned for June 20, 2019. The new shares are expected to be included in the existing quotation of the company’s shares (ISIN DE000A2GS633) on July 3, 2019, after the company’s ordinary annual general shareholders’ meeting, which is to be held on June 28, 2019.

The capital increase generates gross issue proceeds of EUR 23,948,736.00 for the company, which shall be used to finance further growth investments and to implement further acquisitions.

Important information:
The information included in this document is not intended for transmission to the USA, Australia, Canada or Japan, and is not intended for publication in the USA, Australia, Canada or Japan.

This document is neither an offer to sell nor a solicitation to buy securities.

In particular, this document is not an offer of securities for purchase in the United States of America. Securities can be sold or offered for purchase in the United States of America only with prior registration pursuant to the regulations of the U.S. Securities Act of 1933 in its the currently valid version, or without prior registration only on the basis of an exemption. The shares of Allgeier SE are not registered, and will not be registered, pursuant to the regulations of the U.S. Securities Act of 1933 in its currently valid version, and will neither be sold nor offered for purchase in the United States of America.

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Active together

Once again this year Germany's largest company running championship, the B2Run, called on companies to do something for the health of their employees - true to the motto "Active together". BSH IT Solutions has been a regular participant for several years and this year again supported the B2Run initiative with lots of fun and running enthusiasm.

On May 21 9,200 participants from around 500 companies took part in the race together in Bremen. The six runners of BSH IT Solutions took to the starting line punctually at 7.15 pm. The fourteen participants from the parent company Allgeier IT Solutions also took part. The two companies have been supporting the Bremen B2Run for many years with numerous colleagues who are enthusiastic about sports, thus promoting team spirit and cohesion among each other. Encouraged by friends and colleagues, all participants successfully entered the Weser Stadium after 6.3 km.

Thanks to the B2Run team for an unforgettable team experience in a great atmosphere. We are looking forward to a renewed participation with many colleagues in 2020.

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Meet BSH IT Solutions at Nor-Shipping 2019

Greg Stute, Director Business Development Maritime, and Thomas Löhndorf, Key Account Manager, will attend Nor-Shipping 2019 to discuss future developments in IT and network infrastructure in the Cruise and Maritime markets with interested customers and key industry stakeholders in Oslo 4th to 5th June.

BSH IT Solutions offers IT infrastructure for network and data center for maritime requirements, covering the full lifecycle from design to implementation to maintenance. We are a company of global Allgeier SE group with 10,300 employees and branches in 25 countries, which gives us fast access to specialist knowledge and an international workforce.

A weeklong, activity-filled event, Nor-Shipping attracts key maritime industry players from across the world. This is the place where every two years the maritime, tech, finance and wider business segments cross paths. For each of its 50 years, Nor-Shipping has encouraged the industry’s development and focused on the future. Innovative leaders meet their peers to share sneak peeks into the future. “What’s next?” is a question on everyone’s lips.

If you would like to see us on site, simply send an e-mail to Thomas Löhndorf and arrange a personal appointment. We look forward to meeting you in person on 4th or 5th June! Meet us at Nor-Shipping 2019.

Learn more about Cruise IT von BSH IT Solutions | All infos in a video

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Allgeier achieves sustained revenue and earnings growth in the first quarter of 2019 and intends capital increase to finance further growth investments

Munich, May 07, 2019 – According to preliminary figures, Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) will achieve further significant growth in sales and earnings in the first quarter of 2019 (January 1, 2019 – March 31, 2019) in line with its planning for 2019.

Sales and earnings development in the first quarter of 2019

In the first quarter of 2019 (01 January 2019 to 31 March 2019) the Allgeier Group increased its total operating performance by 22 percent to EUR 189.7 million (continuing operations of the previous year: EUR 155.2 million). Adjusted Group EBITDA (EBITDA before effects that qualify as extraordinary or non-periodic) for the first three months of 2019 rose by 34 percent to EUR 14.0 million (previous year: EUR 10.5 million). EBITDA for the period amounted to EUR 13.4 million (previous year: EUR 9.5 million), corresponding to an increase of 41 percent. In the first quarter of 2019, the Group thus generated EBIT of EUR 5.8 million (previous year: EUR 4.1 million), which likewise corresponds to an increase of 41 percent compared with the same period of the previous year.

In the first quarter of 2019, the standard for accounting for rental and lease agreements to be applied from 1 January 2019 onwards in accordance with IFRS was implemented (IFRS 16). This accounting change resulted in an increase in EBITDA of EUR 3.9 million in the first quarter of 2019; the prior-year quarter was up by EUR 2.9 million. The change in accounting for EBIT in the first quarter of 2019 resulted in an increase of EUR 0.3 million (the prior-year quarter was adjusted upwards by EUR 0.2 million). The Allgeier Group uses the retrograde method for the conversion, whereby the previous year’s figures have been adjusted to the reporting for the first quarter of 2019 in order to ensure comparability of the figures. In addition to the effects in the income statement, the effects from the application of IFRS 16 also affect the balance sheet presentation due to the capitalization of rental and lease agreements with their values in use and the recognition of future payments as liabilities over the expected useful life.

Key balance sheet data as of March 31, 2019

At the end of the first quarter of 2019, the Allgeier Group had cash and cash equivalents of EUR 71.7 million (December 31, 2018: EUR 77.0 million). Financial liabilities remained unchanged at EUR 181.8 million as of the balance sheet date (December 31, 2018: EUR 181.7 million), of which EUR 158.4 million were non-current financial liabilities (December 31, 2018: EUR 150.3 million).

Notes to the disclosures as of 31 March 2019

All figures for the first quarter of 2019 have been calculated in accordance with IFRS and have not been audited.

Voluntary interim information of Allgeier SE as of March 31, 2019 will be published on May 31, 2019 and can then be viewed at www.allgeier.com einzusehen.

Allgeier intends capital increase to finance further growth investments

Allgeier’s strategic goal is to continue the significant expansion in particular of its Technology division with its global presence. The market for software development and digitization is consolidating worldwide and is rapidly evolving technologically. Allgeier already has a profound footprint in areas such as software development, artificial intelligence or cloud services and maintains a well-filled M&A pipeline with companies of this kind. Against this background, Allgeier is constantly examining the possibilities of significantly expanding its financial leeway. This includes the optimization and expansion of the debt financing framework and the implementation of a capital increase of up to 10% of the share capital excluding subscription rights. This is to take place before the Annual General Meeting on 28 June 2019 using the authorized capital of the company in the form of a cash capital increase. Allgeier SE will announce the resolution on the intended capital increase and the subsequent implementation of the capital increase in separate ad-hoc announcements.

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Allgeier SE: Supervisory Board approves 2018 financial statements and proposes dividend

Munich, April 24, 2019 – The Supervisory Board of Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) today approved the audited annual and consolidated financial statements of Allgeier SE for the 2018 financial year. The annual financial statements have thereby been adopted. The final consolidated figures essentially correspond to the preliminary figures announced in the ad hoc announcement of March 22, 2019.

IFRS revenue and earnings trends

In the 2018 financial year (01 January 2018 – 31 December 2018), the Group recorded double-digit growth in sales and value added. In 2018, Group sales rose by 19 percent year-on-year to EUR 688.0 million (previous year: EUR 577.0 million). Group value added rose by 24 percent to EUR 194.7 million (previous year: EUR 156.8 million). Adjusted Group EBITDA (EBITDA before effects classified as extraordinary or prior-period from a business perspective) rose by 38 percent to EUR 40.6 million (previous year: EUR 29.3 million). Group EBITDA (earnings before interest, taxes, depreciation and amortization) rose by 14 percent to EUR 30.3 million (previous year: EUR 26.5 million). Group EBIT (earnings before interest and taxes) for the period rose by 19 percent to EUR 16.0 million (previous year: EUR 13.5 million). In the period under review, the Group generated EBT (earnings before taxes) of 13.1 million Euro (previous year: 11.0 million Euro). Income tax expenses in the reporting period amounted to Euro 6.3 million (previous year: Euro 6.5 million). After taxes, the Group generated earnings for the period of Euro 6.9 million (previous year: Euro 4.5 million). From the sale of Allgeier Medical IT GmbH at the end of March 2018, the Group generated a capital gain of EUR 1.7 million. The total result for the period thus amounted to EUR 8.6 million (previous year: EUR 4.5 million). Operating earnings per share adjusted for amortization from acquisition activities and calculated with normalized taxes amounted to EUR 1.60 in the year under review (previous year: EUR 1.06).

Key balance sheet financials as of December 31, 2018

As of the December 31, 2018 reporting date, equity amounted to EUR 133.9 million (previous year: EUR 122.8 million). The Allgeier Group had liquid assets of EUR 77.0 million at its disposal as of the 2018 year-end (previous year: EUR 53.0 million). Current and non-current financial liabilities increased to EUR 181.7 million as of the reporting date (previous year: EUR 108.8 million). Total assets amounted to 480.4 million euros as of December 31, 2018 (December 31, 2017: 337.9 million euros).

Application of profits

The Supervisory Board has today, April 24, 2019, passed a resolution to propose to the Annual General Meeting to distribute a dividend of EUR 0.50 per share to the shareholders from the unappropriated net profit of EUR 16,588,280.41 as reported as of December 31, 2018 in the separate annual financial statements of Allgeier SE. The remaining balance sheet profit is to be carried forward to a new account.

Outlook for the 2019 financial year

The current planning for the 2019 financial year envisages Group revenue growth in the region of 15 to 20 percent with an EBITDA margin of between 6.5 and 7 percent. The forecast made in the ad hoc announcement of 22 March 2019 is maintained. The target figures relate exclusively to the organic development of the currently existing Group, including the companies acquired in 2018, without any further changes to the portfolio. Further acquisitions in the individual business segments can make an additional contribution to growth.

Note

The Allgeier Annual Report 2018 will be published on April 30, 2019 and can then be viewed at www.allgeier.com. All figures have been calculated in accordance with IFRS. The statements for the 2019 financial year represent future expectations based on the current planning, the occurrence of which cannot, however, be expected with certainty.

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Looking back: Seatrade Cruise Global from 09-11 April 2019

After three successful days at the Seatrade Cruise Global in Miami, the BSH IT Solutions team draws a positive balance.

The trade fair once again brought together all areas of the cruise industry and offered a diverse field of exhibitors and experts, which made the current challenges and successes of the industry the theme of the supporting programme. The speakers agreed on the current development of the industry: the potential is considerable and demand is constantly rising. In addition, it was shown that digitalisation is also making its way into the cruise industry.

The BSH IT Solutions team had many interesting and promising discussions with representatives of cruise lines and shipyards. They also made contacts with potential partners.

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BSH IT Solutions at the Seatrade Cruise Global 2019 in Miami

Seatrade Cruise Global, the highlight and must-attend event for the cruise industry, got off to a very good start for BSH. The guests and the more than 70 exhibitors also draw a positive interim balance. This is certainly not only due to the summer location in Miami, but above all to the good organisation of the organisers.

Seatrade Cruise Global was opened with an official speech on the global situation of the cruise industry. Industry decision-makers gave exciting insights and revealed that 28.5 million travelers chose a cruise holiday in 2018, almost 7 percent more than in 2017. Thanks to the growing interest of travelers and the performance of our industry in meeting demand with new ships, the expectation for 2019 is over 30 million cruise vacationers. The growing demand for cruise ships is again opening the door to new technologies and innovations.

BSH's team has had good and fruitful discussions with cruise lines, manufacturers, partners and potential new partners in the industry to date.

We wish you continued success at the world's most important event for the cruise industry.

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BSH IT Solutions has been awarded Platinum Partner Status by Dell EMC for 2019!

BSH's growth with Dell Technologies over the past year has been remarkable and consequently Dell has rewarded the achievements with this higher status on the Solution Provider Track in the Dell EMC Partner Program.

This award underlines the excellent technical know-how of the employees and BSH IT looks back with pride on the achievements of the past fiscal year and looks forward to a new and certainly successful fiscal year, including an even closer cooperation with Dell EMC.

BSH has been working closely with Dell since 1995. At the beginning of August 2008, it was named the first Certified Partner in EMEA (Europe, Middle East and Africa) by Dell as part of the "PartnerDirect" Channel Program. In its more than 20 years as a DELL partner, BSH has achieved a status that enables it to offer Dell products to customers at extremely attractive price conditions by generating purchase quantities and bundling key accounts.

2019 is a year full of opportunities and Dell Technologies and BSH IT are ready to seize them together.

Dell EMC Portfolio and Solution Expertise:

  • Core Client
  • Server
  • Storage

Dell EMC Service Competencies:

  • Storage Services (1)
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Allgeier shows significant growth in sales and earnings in 2018 fiscal year

Publication of inside information pursuant to Art. 17 MAR

Munich, March 22, 2019 – According to preliminary figures, Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) recorded double-digit growth in total revenues, value creation and earnings in fiscal year 2018 (January 01, 2018 – December 31, 2018). Compared to the forecast published in the ad hoc release of December 11, 2018, the preliminary figures for the full year 2018 for the Experts segment show a lower level, while the Enterprise Services and Technology segments are in the range of the forecast.

Business development in continuing operations

Overall, the Group’s total operating performance in the 2018 financial year rose year-on-year to EUR 690 million (previous year: EUR 579 million), representing growth of 19 percent. According to preliminary figures, Group value creation rose by 24 percent to EUR 195 million (previous year: EUR 157 million). Adjusted Group EBITDA (EBITDA before effects that from a business perspective are extraordinary or relate to other periods) amounted to EUR 41 million in the reporting period, 39 percent above the comparable figure for the prior year (previous year: EUR 29 million). Group EBITDA amounted to EUR 30 million (previous year: EUR 26 million) and EBIT to EUR 16 million (previous year: EUR 13 million).

In an “as-if” analysis, in which the companies acquired in 2018 are included in the Group figures for the full year 2018, adjusted Group EBITDA amounts to EUR 45 million and Group EBITDA to EUR 34 million.

Key balance sheet data as of December 31, 2018

The Allgeier Group had cash and cash equivalents of EUR 77 million at its disposal at the end of the 2018 financial year (previous year: EUR 53 million). Preliminary current and non-current financial liabilities amounted to EUR 182 million at the balance sheet date (previous year: EUR 110 million). The preliminary balance sheet total at the end of 2018 was EUR 476 million (previous year: EUR 338 million).

Outlook for the 2019 financial year

The planning for the 2019 financial year envisages Group revenue growth in the region of 15 to 20 percent with an EBITDA margin of between 6.5 and 7 percent. The forecast made in the ad hoc announcement of 11 December 2018 is maintained.

The spin-off of the Allgeier Experts segment (see ad-hoc releases of July 9, 2018 and January 31, 2019) remains the goal. However, the weaker performance of the segment in 2018 compared with the original planning and the currently increased uncertainty on the capital markets create greater uncertainty for the timing of implementation. The Management Board has therefore decided not to present this segment separately as a discontinued operation in the consolidated financial statements for 2018.

reference

All IFRS figures mentioned in this release relate to continuing operations. All business figures for the 2018 financial year are preliminary and have not yet been conclusively audited by the Group auditor. The statements for the 2019 financial year represent future expectations based on the present planning, the occurrence of which cannot, however, be expected with certainty.

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Allgeier SE: Board decides for IPO of Allgeier Experts SE

Publication of inside information pursuant to Art. 17 MAR

Munich, January 31, 2019 – The Management Board of Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) has decided today that the subsidiary Allgeier Experts SE shall receive an independent stock exchange listing in the current year. Talks with investment banks are now leading to concrete preparations for an IPO, which is to take place in the second half of 2019, depending on the market situation.

With this strategic step, the Allgeier Group will be split into two independent companies with a perspective on the years ahead. Allgeier Experts SE bundles the personnel services business of the Allgeier Group, which specialises in IT and engineering. With a turnover of more than EUR 300 million planned for 2019, Allgeier Experts SE is one of the leading full-service IT personnel service providers in the German market. In the medium term, significant growth is planned both organically and through acquisitions in a market that is continuing to consolidate. By taking the step into an independent stock exchange listing, Allgeier Experts SE will reduce its dependence on its parent company Allgeier SE and gain direct access to financing.

The software business remaining in Allgeier SE is planning sales of more than EUR 500 million for 2019. In addition to substantial organic growth, further acquisitions are planned in order to accelerate the expansion into a globally active software development company. Allgeier SE already brings together more than 7,000 software specialists in more than 25 countries – more than 4,000 of them in India, over 1,000 in Germany, around 800 in Romania and around 500 at its locations in China.

With significantly tightened profiles and individual equity stories, both companies will drive their expansion even more consistently than before. Direct access to the capital market as well as to debt financing, each with its own peer group and valuation environment, will enable both companies to accelerate their growth. The sharpened specific profile in each case will create greater visibility and attractiveness both in the customer environment and, in particular, when recruiting new colleagues and key employees. The future cooperation between the two largely complementary companies is to be continued intensively and at eye level. Allgeier SE is expected to remain the anchor shareholder of Allgeier Experts SE in the medium term following its IPO.

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