Press Release

Amadeus FiRe AG:Quarterly statement three months 2023

Frankfurt/Main, 25 April 2023. The Amadeus FiRe Group had a successful start into the year and was able to continue its growth path. Especially the training segment was able to develop positively in the first three months of the year. With consolidated revenue of € 111.1 million, the level of revenue increased by 8.0 percent compared to the previous year. The operating EBITA improved by 8.2 percent to € 19.1 million and the net profit for the period rose by 11.8 percent to € 11.9 million.

Revenues in the segments developed as follows:

The personnel services segment showed stable development in the first quarter of 2023. Compared to the particularly strong earnings and growth in the same quarter of the previous year, turnover increased by another 3 percent. The growth and expansion phase successfully implemented in the previous year was continued at the beginning of 2023. The development of the branch office organisations continues to be dynamic. As a result of the increased personnel-related expenses, the operating segment EBITA decreased slightly compared to the strong level of the previous year and amounted to € 13.5 million (-5.8 percent) as at 31 March 2023. Overall, the usual spring economic upturn was somewhat weaker. Nevertheless, customer demand is still at a good level, the same applies to the willingness of companies to hire employees.

Due to the measures implemented in 2022 and the improved situation of the operating business in the second half of the year, the training segment turnover in the first quarter of 2023 showed a clearly positive development with an increase of 19.9 percent. In total, the training segment achieved a turnover of € 37.4 million after € 31.2 million in the previous year. Correspondingly, the operating EBITA improved by 68.5 percent to € 5.6 million after a weak previous year. In particular, publicly funded training was able to develop positively due to the expansion of the network of training locations and product portfolio as well as the general market development. The course and seminar business with private and business customers was also able to achieve a further increase in turnover and results.

The results achieved by the Amadeus FiRe Group are within the expectations forecast at the end of 2022. The management board confirms its growth forecast for 2023. For 2023 as a whole, revenue of € 440 to € 470 million is still expected, combined with operating EBITA of € 73 to € 79 million. This would represent an average increase in turnover and operating EBITA of slightly less than 12 percent.

The overall economic situation remains tense, but according to current forecasts, Germany's economic development should be noticeably positive from the second half of the year. Nevertheless, current developments remain difficult to predict, harbour risks and are difficult to forecast accurately.

The full report is available on our homepage.

Amadeus FiRe AG
Jan Hendrik Wessling
Investor Relations
Tel: +49 (69) 96 876-180
IR@Amadeus-FiRe.de