AMADEUS FIRE AG / DE0005093108

Quarterly statement three months 2024

AMADEUS FIRE AG / Key word(s): Quarterly / Interim Statement


23.04.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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The Amadeus Fire Group increased its revenue by 3.4 percent in the first three months of 2024. As in the course of 2023, revenue for training continued to develop positively, while revenue for personnel services was down slightly year-on-year at the start of the year. At the end of the first quarter, the Group's operating EBITA was 24.3 percent below the previous year's excellent figures. The following calendrical effects had a negative impact on the results. In direct comparison to the previous year, there were two fewer working days available in the quarter. The first national Easter holiday week this year was also in the first quarter, with traditionally significantly lower business activities. Despite these effects, the operating EBITA of the training segment clearly exceeded the already very positive first quarter of the previous year. In contrast, the personnel services segment fell well short of the previous year's result. The training segment continues on its successful course. Revenues increased by 15.6 percent to € 43.2 million in the first quarter. Publicly funded training made a particular contribution, with revenue growth of a good 20 percent. Revenue in the private customer market increased slightly in the first quarter of 2024, while revenue development with corporate customers was slightly below the previous year's level, as expected. In the first three months of 2024, the personnel services segment was unable to match the previous year's quarter. This was due to the noticeable economic slowdown and a lower number of billable days. The early Easter date also had a negative impact on revenues and gross profit. With revenue of € 71.8 million, the previous year's figure was slightly missed by 2.8 percent. In general, demand for personnel services remains high due to the noticeable shortage of skilled labour. The customer enquiries recorded were roughly on a par with the previous year. However, the economic trend is leading to increased uncertainty in the recruitment processes for temporary staffing and permanent placement services and a decline in the actual willingness to hire on the part of client companies, as well as a decreasing willingness on the part of candidates to change jobs. As a result, there is a lower conversion rate of enquiries into orders. By the end of the first half of 2023, the organisation has been staffed for a next phase of growth and expansion. In 2024, the focus will be on increasing productivity and the associated improvement in the profit situation. For the remaining course of 2024, there is no general trend reversal to be expected in terms of economic development. A slight recovery is only expected to occur in the second half of the year. The dominant shortage of skilled labour continues to stand in the way of economic development. Nevertheless, the trend is still characterised by considerable insecurity. The Management Board confirms its growth forecast for the end of the 2023 financial year. Consolidated revenues in the first quarter slightly exceeded expectations. Overall, the Amadeus Fire Group's earnings performance in the first three months of 2024 was slightly below the company's own forecasts. For the year as a whole, the Management Board therefore expects the Amadeus Fire Group to generate revenue of € 470 to 500 million, which corresponds to growth of 6 to 13 percent. Operating EBITA is expected to increase by 5 to 14 percent to between € 74 and 80 million. The full report is published on our website under https://group.amadeus-fire.de/en/investor-relations/financial-reports/.  

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23.04.2024 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:	1886305

End of News	EQS News Service

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1886305  23.04.2024 CET/CEST