German recruitment firm Amadeus FiRe AG (AADX: GER) announced preliminary results today reporting revenue of €184.5 million in 2017, an increase of 6.5% from the previous year.

Gross profit margin for Amadeus FiRe improved by 0.9%, from 43.8% in 2016 to 44.7% in 2017.

Amadeus FiRe added that despite three fewer available billing days in the 2017 financial year, EBITA increased by 7.6%. The EBITA margin improved by 0.2% to 17.5% in 2017.

The company added that selling and administrative expenses accumulated to €50.4 million after €46.0 million in prior year. The increase mainly resulted from personnel expenditures in operations.

Amadeus FiRe’s goal for fiscal year 2018 is to exceed the EBITA level of €32.3 million despite further significant investments in the expansion of its business operations and increased expenses following last year’s adoption of equal pay regulations.

The group stated that final figures for the fiscal year 2017 will be announced on 13 March 2017.

In trading today, Amadeus Fire traded at €81.40, up 2.01% on the day and 8.53% below its 52-week high of €88.99, set on 16 May 2017. Based on its current share price the company has a market value of €414.82 million.