Allgeier SE Clarifies BaFin Audit Findings

Munich, 11 March 2025 – Allgeier SE has responded to the audit findings issued by the German Federal Financial Supervisory Authority (BaFin) about their financial statements for 2020. The focus of the audit was on the spin-off of Nagarro SE, specifically in the presentation per IFRS standards. The audit found no impact on the company's taxes or liquidity.

BaFin pointed out that an earnings understatement occurred due to not individually reporting a EUR 199 million profit. Additionally, discrepancies were found in asset depreciations relating to the spin-off. These issues were acknowledged as related to reporting practices, not affecting the actual earnings or future financial statements of Allgeier or Nagarro SE.

The audit also highlighted a EUR 14.478 million understatement error in total comprehensive income due to sign misstatements. Again, the fundamental financial position remains unaffected, with corrections isolated to IFRS reporting.