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Germany – Amadeus FiRe reports positive Q3 results

24 October 2013

Germany recruitment firm Amadeus FiRe (AAD: GER) reported revenue of €37.4 million during the third quarter of 2013, an increase of +2.5% compared with €35.6 million a year ago. Gross profit for the period was €17 million, up by +7.6% from €15.8 million for the same period last year.

Net income for the three months ending 30 September 2013 was €5.1 million, up from €4.6 million, equating to a year-on-year increase of +10.9%.

For the nine-months to the end of September, Amadeus FiRe reported revenue of €105.8 million, a rise of +3.6% from €102.2 million last year. Gross profit for the year-to-date was €44.8 million, an increase of +2.8% from €43.5 million in the first nine months of 2012.

The company reported a slight gross profit margin decline of -0.3% to 42.3%, as a result of there being one less chargeable day and an unusually high level of sick leave for temporary workers during the first quarter of 2013. Net income for the period was €11.4 million, up from €11.2 million, equating to a year-on-year rise of +1.8%.

Revenue from temporary placement, the company’s largest business segment, increased by +1% to €77.2 million, up from €76.3 million, year-on-year. Interim and project management revenue reported the biggest increase with +19%, revenue rose to €6.2 million from €5.2 million last year. Permanent placement revenue increased by +8% to €10.6 million from €9.8 million, year-on-year. 

Looking forward to the fourth quarter, the company advised that the coming quarter will have four fewer working days than the corresponding period last year. The company expects that its financial results will be negatively impacted by the shortened period.

In trading today, the company’s share price fell by -1.5% to €49.75, an increase of +50.7% compared with a year ago. Based on its share price, the company has a current market value of €258.6 million. 

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