EQS-News: Amadeus Fire Group confirms preliminary financial figures for 2024 and proposes a dividend of EUR 4.03 per share

Amadeus Fire Group confirms preliminary financial figures for 2024 and proposes a dividend of EUR 4.03 per share

Frankfurt / Main, 26 March 2025

The Amadeus Fire Group (ISIN: DE0005093108, Prime Standard, SDAX) confirms the preliminary financial figures for the 2024 financial year. Revenue of € 436.9 million represents a slight decrease of 1.2 percent compared to the previous year (€ 442.4 million). The slightly lower operating gross profit* of € 236.7 million (previous year: € 243.4 million), a decline of 2.8 percent, results in an operating gross profit margin* of 54.2 percent, nearly in line with the previous year's figure of 55.0 percent.

A decline in operating gross profits* within the Personnel Services segment, combined with forward-looking investments in the digital transformation of the Amadeus Fire Group, led to a disproportionately high reduction in operating EBITA* by approximately 21 percent. Operating EBITA* for 2024 amounted to € 55.5 million (previous year: € 70.4 million). Nevertheless, the Amadeus Fire Group continues to achieve above-market operating gross profit margins* and an operating EBITA* margin of 12.7 percent (previous year: 15.9 percent).

The Group recorded an operating result after income tax of € 36.8 million in 2024 (previous year: € 48.9 million). The net profit attributable to shareholders of Amadeus Fire AG for 2024 was € 32.6 million (previous year: € 40.4 million), resulting in undiluted earnings per share of € 6.01, compared to € 7.12 in the previous year.

As of 31 December 2024, the Group's equity amounted to € 155.0 million, slightly above the € 151.5 million recorded on 31 December 2023. Due to a 3.7 percent reduction in the total balance sheet volume at year-end 2024, the equity ratio increased slightly from 44.2 percent on 31 December 2023 to 46.9 percent.

As a result, the Management Board and Supervisory Board propose to the Annual General Meeting to once again distribute approximately two-thirds (around 67 percent) of the net income attributable to Amadeus Fire AG shareholders as a cash dividend of € 4.03 per share. The remaining one-third shall be carried forward and retained for further growth investments within the Group.

Personnel Services segment
The ongoing revenue growth in interim and project management within the Personnel Services segment could only partially offset the decline in revenue from temporary staffing and permanent placement. The increasingly adverse business climate, particularly in Q4/2024, weighed on this segment. The downturn and declining demand have now impacted the commercial and IT professions relevant to the Amadeus Fire Group. Additionally, the conversion rate of inquiries into successful placements in both temporary staffing and permanent placement worsened throughout 2024. Candidate willingness to switch jobs also remained noticeably lower than in previous years. The segment's revenue for 2024 was € 268.8 million (previous year: € 289.2 million), representing a 4.8 percent decline. The segment's gross profit fell by 10.2 percent to € 132.7 million (previous year: € 147.7 million), leading to a decrease in the operating gross profit margin to 49.4 percent (previous year: 51.1 percent).

Planned and necessary expenses for digitalisation and software projects, as well as investments in the digital transformation and long-term viability of business applications, negatively impacted the segment's result for 2024. As a result, the segment's operating EBITA* amounted to € 34.9 million, a 29.5 percent decline compared to the previous year (€ 49.5 million), corresponding to an operating EBITA* margin of 13.0 percent (previous year: 17.1 percent).

Training Segment
Measures implemented in 2023 to revitalise the business had a significantly positive impact, leading to a notable increase in participant numbers in training programmes throughout 2024. The segment's revenue rose by 9.6 percent to € 168.5 million (previous year: € 153.7 million). The gross profit increased by 8.3 percent to € 104.3 million (previous year: € 96.3 million), resulting in a stable gross profit margin of 61.9 percent (previous year: 62.6 percent), despite higher expenditures on teaching and further improvements in training organisation.

Significant investments in IT infrastructure, training room and participant technology, and digital learning environments slightly reduced the segment result for 2024 by 1.1 percent. Operating EBITA* remained at € 20.6 million (previous year: € 20.8 million), corresponding to an operating EBITA* margin of 12.2 percent (previous year: 13.6 percent).

Outlook for 2025
The Amadeus Fire Group does not anticipate a significant improvement in economic conditions in 2025, nor a rapid recovery in the market environment. However, medium-term prospects remain positive due to the ongoing shortage of skilled professionals, the demographic shift, and the increasing demand for professional qualifications in a dynamically evolving labour market. Nonetheless, 2025 will remain a challenging financial year.

Based on the declining earnings trend in 2024, business performance from November 2024 to February 2025, and the persistently negative sentiment among German companies, the following outlook is provided:

The Amadeus Fire Group expects revenue in the financial year 2025 in a range of € 387–417 million.

The operating EBITA* in the financial year 2025 is expected in a range of € 36–44 million, with an operating EBITA* margin on an averaged value of around ten percent.

The market opportunities in the Personnel Services segment remain fundamentally positive in the medium term. A tight labour market for specialists and managers supports the business model of Amadeus Fire. However, companies are currently more cautious in filling new or vacant positions, and candidate willingness to switch jobs remains subdued. Sales, administrative, and marketing costs are expected to align with business trends in 2025, and a lower headcount compared to the previous year is anticipated. IT investments will remain high in 2025 to further improve systems and processes, with a focus on increasing efficiency and productivity.

The Personnel Services segment expects revenue in the financial year 2025 of € 219–239 million and an operating EBITA* of € 20–26 million, with an EBITA* margin on an averaged value of around ten percent.

The constantly growing Training segment expects slightly to grow in the publicly funded training segment (B2G). The expansion of marketing and sales activities as well as the consistent expansion of the range of courses and seminars at economically strong locations with their own training facilities, multimedia and digital training concepts are expected to gain further market share. The corporate customer (B2B) and private self-paying customer (B2C) segments expect constant to slightly increasing revenue.

The Training segment expects revenue in the financial year 2025 of € 168–178 million and an operating EBITA* of € 16–18 million, with an EBITA* margin on an averaged value of around ten percent. Growth in the Training segment is expected to be purely organic, with no acquisitions included in the forecast.

*For the definition of operating EBITA of the Amadeus Fire Group, please refer to the first footnote on page 3 of the 2024 Annual Report.

The audited consolidated financial statements for 2024, along with the corresponding sustainability report, are available at:
https://group.amadeus-fire.de/en/investor-relations/financial-reports/

The 2024 remuneration report is available at:
https://group.amadeus-fire.de/en/sustainability/governance/compensation/

Contact:
Jörg Peters
Head of Investor Relations
Tel.: +49 69 96 87 61 80
eMail: jpeters@amadeus-fire.de