German recruitment firm Amadeus FiRe AG (AADX: GER) announced that, in the fiscal year 2018, the group achieved consolidated sales of €205.8 million, up 11.5% compared to €184.5 million last year. The group added that all services provided by the Amadeus FiRe Group contributed to this positive overall development.

Gross margin improved by 1.8% from 46.4% in the previous year to 48.2% in 2018.

Selling and administrative expenses grew to €62.0 million compared to 53.4 million in prior year. The 16.1% increase was mainly derived from personnel expenditures for the growing sales organisation.

The group added that its increase in EBITA was achieved despite the negative impact on the total order backlog as a result of the first-time application of the new regulation of the German Temporary Employment Act (in particular equal pay and maximum lending period). EBITA margin improved by 0.7% to 18.2%.

Looking ahead, for fiscal year 2019 the Amadeus FiRe Group plans further significant investments in the expansion of its operating business and sales organisation. The company’s goal for FY 2019 is to increase both consolidated sales and EBITA once again. It added that the plans are based on a stable macroeconomic environment in Germany.

In trading today, Amadeus Fire shares last traded at €89.90, up 2.16% on the day and 14.96% above the 52 week low of €78.20 set on 7 February 2018. Based on its current share price the company has a market value of €457.44 million.