DGAP-News: Amadeus FiRe AG

Press release Amadeus FiRe AG: Half year results of fiscal year 2017

Frankfurt/Main, 20 July 2017. In the first six month of the 2017 financial year, the Amadeus FiRe Group generated consolidated sales of EUR 88.695k (prior year: EUR 83.533k), an increase of 6.2%. The number of billable days in the reporting period was identical to the prior-year period. All business segments contributed to the growth in revenue, with the exception of Interim/Project Management. Compared to prior year Permanent Placement developed very positive.

Sales of individual services developed as follows:

In the first half year, gross profit of the Group amounted to EUR 39.206k, an increase of 11.3% compared to prior year. The gross profit margin increased from 42.2% to 44.2%. Positive margin effects are mainly caused by a higher part of the more profitable permanent placement sales.

In the reporting period, selling and administrative expenses came to EUR 25.019k, after EUR 22.619k recorded last year. The increase of 10.6% can primarily be attributed to higher staff costs. Above all, the successfully implemented investments in the sales organization and the filling of open vacancies since the second half of 2016 have been the main drivers of this development. The higher commission entitlements as a result of the successful development in earnings and the whole-year effect of the structural increase in fixed salaries for sales implemented during 2016 also had an effect.

The operating profit (EBITA) amounted to EUR 14.287k and hence exceeded the prior year's result of EUR 12.712k by EUR 1.575k or 12.4%. The EBITA margin rose by 0.9 percentage points to 16.1% (prior year: 15.2%).

The financial year 2017 has three billable working days less than the previous year overall. While the number of billable days in the first half of the year was the same year-on-year, the three fewer days in the second half of the year will have a negative impact on revenue, gross profit and earnings of around EUR 1.5 million. The Management Board confirms its forecast for the 2017 financial year with a slightly increase in operating result (EBITA) at this time.

The complete report is available at www.amadeus-fire.de.