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Germany – Amadeus FiRe sees Q2 revenue and profits rise

25 July 2013

Frankfurt-based recruiter Amadeus FiRe (AAD: GER) announced that revenue in the second quarter of 2013 rose +5.9% to €35.3 million, compared with €33.2 million during the same period last year. Amadeus FiRe is one of the top 20 staffing firms in Germany based on revenue, according to research by Staffing Industry Analysts.

Gross profit in the period was up +7.1% to €14.57 million from €13.54 million during the same period last year. Pre-tax profit for the period rose +11.6% to €5.5 million compared with €4.8 million a year ago.

Segmental breakdown is not available per quarter; however, they are provided for half-year results. Staffing revenue increased during the first half of 2013 +2% to €60.8 million. Temporary recruitment held steady with negligible change (0%) with sales of €49.8 million, while permanent placements sales rose +8% to €6.7 million. The biggest increase was in interim and project management sales, rising +22% to €4.2 million.  

Looking ahead to the third quarter, Amadeus FiRe predicts higher revenues on the basis of a greater number of billable days. However, the weak macroeconomic environment and negative industry outlook is expected to continue throughout 2013. Recruiting qualified staff for the temporary market is expected to remain challenging. Amadeus FiRe, however, expects to buck the trend and increase labour turnover in the second half of the year.

Amadeus FiRe provides specialist staffing services for business professionals and executives in banking, accounting, IT, and office sectors. The company’s share price opened at €43.34 an increase of +0.54% and an increase of +29.89% compared with a year ago. Based on its current share price, the company has a market value of €226.12 million. 

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