Frankfurt/Main, October 25, 2022. In the first nine months of the year, the Amadeus FiRe Group achieved an overall positive result. With consolidated revenue of €305.9 million, the level of revenue was up 11.3 percent on the previous year. Operating EBITA improved by 1.7 percent to €50.2 million, and net profit for the period rose by 9.4 percent to €29.8 million.

Revenues in the business segments developed as follows:

	in € million	in percent
Tempory staffing	136.9	+	13.9
Permanent placement	56.4	+	41.6
Interim-/project management	21.8	+	21.5
Segment Personnel Services	215.2	+	20.9
Segment Training	90.8	-	6.5

The positive overall development is especially due to the development in the Personnel Services segment. As in the first half of 2022, outstanding results could be achieved. In total, the segment generated revenues of € 215.2 million, an increase of 20.9 percent. The operating EBITA for the segment showed a pleasing increase of 40.8 percent to € 43.7 million. The permanent placement services performed especially successful. The level of customer inquiries remained high in the third quarter and a new revenue record was achieved. The branch organization remains in a successful expansion and growth phase proceeding as planned.

The revenues of the training segment declined by 6.5 percent to € 90.8 million, driven by the weak development in the area of subsidized training. Also, the operating segment EBITA, at 64.4 percent and € 6.5 million, was significantly below the previous year and the original planning. By the end of the quarter, though, revenues as well as operating results in the training segment could be increased again.

In the area of subsidized training, the market bottomed out in July, as expected. As a result, the demand situation improved and the number of participants increased again, in contrast to the market trend.

During the year, COMCAVE and GFN structurally improved their own market position with an expanded network of locations and an expansion of the product portfolio despite the pandemic related market constraints. However, the overall number of participants in the first nine months was significantly lower than in the previous year. The development of the training and seminar business with private customers continues to be positive and growing. Against the background of increasing uncertainty and risks, revenue in business with corporate customers is developing weakly.

The Amadeus FiRe Group was able to achieve overall results within the forecast ranges of expectation in the first nine months. For the year as a whole, the Amadeus FiRe Group expects to achieve operating EBITA in excess of EUR 70 million compared with EUR 66.5 million in the previous year. This means the Management Board is reiterating its forecast of growth in operating EBITA at the lower end of the current forecast range of 7 to 9 percent.

It is quite possible that macroeconomic disruption will lead to falling demand in isolated cases. This risk to Amadeus FiRe is significantly reduced by its broad customer base across multiple sectors and the opportunities this entails for substitution. The economic development of Germany continues to be subject to major uncertainties, which make it difficult to provide an accurate forecast.

 

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Amadeus FiRe AG
Jan Hendrik Wessling
Investor Relations
Phone: +49 (69) 96 876-180
[email protected]