AMADEUS FIRE AG
ISIN: DE0005093108
WKN: 509310
23 October 2024 06:10PM

EQS-News: Amadeus Fire AG: Slight increase in revenue and operating gross profit of the Amadeus Fire Group after nine months in 2024

AMADEUS FIRE AG · ISIN: DE0005093108 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 2014681

EQS-News: AMADEUS FIRE AG / Key word(s): Quarterly / Interim Statement/Quarter Results
Amadeus Fire AG: Slight increase in revenue and operating gross profit of the Amadeus Fire Group after nine months in 2024

23.10.2024 / 18:10 CET/CEST
The issuer is solely responsible for the content of this announcement.


Slight increase in revenue and operating gross profit of the Amadeus Fire Group after nine months in 2024


Frankfurt/Main, 23 October 2024

The Amadeus Fire Group increased the consolidated revenue for fiscal year 2024 by 1.9 percent to € 337.7 million at the end of September (previous year: € 331.5 million). Operating gross profit increased by 0.6 percent to € 184.5 million after nine months (previous year: € 183.4 million) despite the persistent recessionary trend in the German economy. This results in an approximately constant gross profit margin of 54.6 percent (9-month period 2023: 55.3 percent).

Economic development in Germany in the third quarter of 2024 was below general forecasts. An economic recovery remains unlikely in the fourth quarter of the year, so 2024 will be a further year of recession.

Despite the persistent shortage of skilled labour, the decrease in corporate demand resulting from the weak economic conditions had a noticeable impact on business development in the Personnel Services segment. The ongoing increase in revenue from interim/project management mitigates the decline in current revenue from temporary staffing and permanent placement, but is only able to compensate for this in part.

The Amadeus Fire Group generated operating EBITA* of € 46.4 million in the first nine months of the 2024 fiscal year, roughly 14.8 percent below the same period of the previous year. This results in an operating EBITA* margin of 13.8 percent (9-month period of 2023: 16.4 percent).

Earnings per share, based on the profit for the period attributable to ordinary shareholders of the parent company, amounted to € 4.79 in the first nine months of this year (previous year: € 5.67).

At € 150.7 million as of 30 September 2024, the Group's equity was slightly below the prior-year level of € 151.5 million as of 31 December 2023, but considerably above the comparable prior-year figure of € 143.3 million. The net profit for the period of € 26.4 million earned by
30 September 2024 was contrasted by the dividend payment of € 27.2 million implemented in May. This resulted in a slight increase in the equity ratio from 44.2% at year-end 2023 to currently 45.0% (comparable prior-year figure: 40.5%) due to the slight decrease in total assets as of 30 September 2024.

Personnel Services segment
In recent years, the shortage of skilled labour has established itself as the main driver of the personnel services market in Germany. However, the ongoing economic weakness and the unusually negative assessment of the business situation by companies are currently acting in the opposite direction. The economic downturn and decline in demand has impacted the commercial and IT professions relevant to the Amadeus Fire Group. Companies are noticeably reluctant to fill vacancies or new positions. The willingness of candidates to change jobs is also noticeably more restrained than in previous years. Segment revenue of € 208.9 million after nine months (previous year: € 218.2 million) was -4.3 percent down on the previous year. Segment gross profit decreased by -7.4 percent to € 104.3 million (previous year: € 112.6 million). The segment's operating gross profit margin fell accordingly to 49.9 percent (previous year: 51.6 percent).

The segment result for personnel services was noticeably affected by the economic development and, with an operating EBITA* of € 29.1 million, was -24.7 percent below the previous year's figure of € 38.7 million. In addition to the effects on gross profit, the operating result was also negatively impacted by the planned and necessary increase in expenses for digitalisation and software projects. Investments in the digital transformation and in the future viability of business applications will continue in the upcoming quarters.

Training segment
The measures implemented in 2023 to stimulate business had a significant positive impact, with the number of participants in training programmes significantly exceeding the previous year's level again after three quarters. The revenue for this segment increased significantly by 13.6 percent to € 129.1 million in the first nine months of 2024 (previous year: € 113.7 million). The significant 13.0% increase in gross profit to € 80.4 million (previous year: € 71.2 million) resulted in an approximately constant gross profit margin for the segment of 62.3% (previous year: 62.6%) despite increased expenses in teaching and other measures to improve the training organisation.

The ongoing growth resulted in a significant increase of 9.6 percent in the segment result for training with an operating EBITA* of € 17.3 million (previous year: € 15.8 million). Higher IT expenses for the modern infrastructure required and for a digital learning platform also had a negative impact on earnings in the Training segment.

Outlook 2024
According to recent forecasts, the currently noticeably weak economy is not likely to gradually recover and gain momentum until 2025 at the earliest. No positive change in the situation is expected in the fourth quarter of 2024. Inflation rates are expected to return to a moderate level. In general, however, forecasts are still influenced by numerous factors and actual developments are difficult to predict.

The earnings generated in the Personnel Services segment are significantly below the original plans, with the result the segment targets set at the end of the year are currently not expected to be achieved. As there are currently no signs of a market recovery, the Executive Board assumes that the recessionary trend will remain unchanged for the rest of the year.

In the Training segment, the earnings are within the own expectations, but a strained enquiry situation in the field of publicly funded training is limiting accelerated growth.

The Amadeus Fire Group was unable to fulfil internal expectations in the first nine months of 2024. The ongoing deterioration in the recessionary assessment of the corporate environment in the third quarter and the market impact were more severe than expected several months ago. As a result of the continuing pessimistic expectations and no sign of an economic upturn in the short term, the Executive Board's earnings expectations for the second half of the year have decreased once again. After the end of the third quarter of 2024, the Executive Board expects to achieve consolidated operating EBITA* in the range of € 58 million by the end of 2024.

 

* Definition of operating EBITA Amadeus Fire Group: Result from operating activities before goodwill amortisation and amortisation of intangible assets from the purchase price allocation and before effects from the measurement of the purchase price liability of the non-controlling interests in Amadeus FiRe Weiterbildung Verwaltungs GmbH.

 

The full interim statement is published on our website at 
https://group.amadeus-fire.de/en/investor-relations/financial-reports/

 

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



23.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: AMADEUS FIRE AG
Hanauer Landstrasse 160
60314 Frankfurt am Main
Germany
Phone: +49 (0)69 96876 - 180
Fax: +49 (0)69 96876 - 182
E-mail: investor-relations@amadeus-fire.de
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: 2014681

 
End of News EQS News Service

2014681  23.10.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=2014681&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f

Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 205,84 233,12 280,15 372,37 407,07 442,36 475,00
EBITDA1,2 38,92 45,81 59,30 86,39 92,40 96,06 81,00
EBITDA-Margin3 18,91 19,65 21,17 23,20 22,70 21,72 17,05
EBIT1,4 37,52 38,72 30,96 61,02 64,11 64,70 51,00
EBIT-Margin5 18,23 16,61 11,05 16,39 15,75 14,63 10,74
Net Profit (Loss)1 25,84 25,75 19,36 37,40 39,01 41,25 31,00
Net-Margin6 12,55 11,05 6,91 10,04 9,58 9,33 6,53
Cashflow1,7 26,35 36,69 40,68 75,92 83,89 83,14 0,00
Earnings per share8 4,66 4,62 3,29 6,09 6,71 7,12 5,70
Dividend per share8 4,66 0,00 1,55 3,04 4,50 5,00 4,50
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: PricewaterhouseCoopers

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Amadeus Fire
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
509310 DE0005093108 AG 412,84 Mio € 04.03.1999 Halten 9F2C4P78+6W
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
10,86 22,46 0,48 14,70 3,39 4,97 0,93
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
4,50 5,00 4,50 5,92%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
22.05.2025 23.04.2024 23.07.2024 23.10.2024 26.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+0,00%
76,00 €
ATH 206,50 €
-7,09% -22,84% -38,21% -37,91% +560,87%

Advertising is an important revenue channel for us. But we understand, that sometimes it becomes annoying. If you want to reduce the number of shown ADs just simply login to your useraccount and manage the settings from there. As registered user you get even more benefits.
          Qualitätsjournalismus · Made in Germany © 2024          
The news manufactory

Good luck with all your investments

Founded in 2013 by Gereon Kruse, the financial portal boersengefluester.de is all about German shares - with a clear focus on second-line stocks. In addition to traditional editorial articles, the site stands out in particular thanks to a large number of self-developed analysis tools. All tools are based on a completely self-maintained database for more than 650 shares. As a result, boersengefluester.de produces Germany's largest profit and dividend forecast.

Contact

Idea & concept: 3R Technologies   
boersengefluester.de GmbH Copyright © 2024 by Gereon Kruse #BGFL