AMADEUS FIRE AG / DE0005093108

AMADEUS FIRE AG: Explanatory notes regarding the adjusted guidance of the FY results EBITA 2024

AMADEUS FIRE AG / Key word(s): Change in Forecast/Quarter Results


18.10.2024 / 12:27 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Explanatory notes regarding the adjusted guidance of the FY results 2024
Frankfurt/Main, 18thOctober 2024 The Amadeus Fire AG remains clearly on its course of profitable growth in the current financial year 2024. The growing pessimism in the German economy over recent months, along with the resulting hesitancy in placing orders, has had a noticeable impact on the Amadeus Fire Group’s results for the first nine months of 2024. Resulting in a differentiated development of the Group’s key figures for full-year 2024. While targets are being reached in the training segment, the uncertainty among customers and candidates leads to expectations not being reached in the personnel services segment. Within the personnel services segment, the continuous increase in revenue from interim management / project management can only partially compensate for the current decline in revenue from temporary staffing and permanent placement. The increasingly negative business climate has had a noticeable impact on revenue and gross profit and consequently on earnings. The downturn and decrease in the demand has reached the commercial and IT professions which are relevant for the Amadeus Fire Group. Companies are acting noticeably restrained in their recruitment for new or vacant positions and the willingness of candidates to change jobs can also be considered to be rather restrained. According to current projections, it can be assumed that there will be no short-term improvement in economic development by the end of the year. The previous segment targets for personnel services are therefore not expected to be achieved by the end of 2024. The significantly positive development of the training segment, on the other hand, resulted in an overall increase in revenue and a higher gross profit at Group level. The Amadeus Fire Group achieved an operating EBITA* in the amount of € 46.4 million after nine months 2024 that is around 14.8 percent below the corresponding figure the year before as well as below the company’s expectations.  The Management Board expects no reversal of the trend for the rest of the year and adjusts the guidance of the operating EBITA* for full-year 2024 to around € 58 million € after the already adapted guidance at the half-year reporting 2024 to € 64-70 million.
* Definition operating EBITA at Amadeus Fire Group: Profit from operations before goodwill impairment and amortisation of intangible assets from the purchase price allocation / as well as before effects from the measurement of the purchase price liability of the non-controlling shareholders in Amadeus FiRe Weiterbildung Verwaltungs GmbH.
Disclosure of Interim Statement Q3/9M 2024 is scheduled for 23rd October 2024 post trading hours.

Additional information as well as an explanatory press release are available on our website under
https://group.amadeus-fire.de/en/investor-relations/financial-reports/ and under
https://group.amadeus-fire.de/en/investor-relations/news/   Contact: Jörg Peters
Head of Investor Relations
[e-mail]
[phone]
 

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18.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language:	English
Company:	AMADEUS FIRE AG
	Hanauer Landstrasse 160
	60314 Frankfurt am Main
	Germany
Phone:	[phone] - 180
Fax:	[phone] - 182
E-mail:	[e-mail]
Internet:	www.amadeus-fire.de
ISIN:	DE0005093108
WKN:	509310
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	2011597

End of News	EQS News Service

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2011597  18.10.2024 CET/CEST