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Germany – Positive economic outlook boosts Amadeus FiRe’s Q1

24 April 2014

German recruitment firm Amadeus FiRe AG (AAD: GR) reported revenue of €37.4 million during the first quarter of 2014, a rise of +13% compared with €33.1 million during the same period last year. The company achieved gross profit of €15.5 million, a year-on-year rise of +18% from €13.2 million in Q1 2013.

Amadeus FiRe’s reported an operating profit for the period of €5.1 million, up by +24% from €4.1 million a year ago.

Revenue from temporary staffing rose by +16% to €28.3 million, up from €24.5 million last year, supported by a recent price increase of +2%. Interim/project management reported revenue growth of +9% to €2.2 million, up from €2 million in 2013. Revenue derived from permanent placements in Q1 2014 was €3.5 million, an increase of +3% from €3.4 million last year.

According to the company’s financial statement: “In Germany, the most recent industry survey projects an approximately +5% increase in temporary [workers] in January 2014 compared to January of last year to around 830,000. On this basis, and due to the positive economic outlook, the number of temporary [workers] is expected to be slighter higher than in the previous year.”

“In the permanent placement sector, the already fierce competition for qualified personnel will presumably intensify. This is because of the excess demand for employees, which is increasing as a result of the positive economic outlook and the mounting number of vacant positions.”

Looking forward, the Management Board maintains its expectations that sales will exceed €150 million and earnings will increase in financial year 2014.

In trading today, the company’s share price rose by +1.9% to €62.66, a rise of +45.1% compared with a year ago. Based on its current share price, the company has a market value of €327 million.