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Amadeus Fire AG (AADX:GER), the staffing and training group, today announces preliminary results for the financial year (FY) of 2009. Revenues were down by 3.4% from 114.6 million Euro in FY 2008 to 110.7 million Euro in FY 2009.
The fall in revenues is exclusively due to reduced activity in permanent recruitment. Revenues from temporary employment were stable at the levels of 2008, interim and project management activities were slightly up compared to 2008.
The gross margin fell from 41.9% in 2008 to 39.2% in 2009. EBITA fell by 11.5% from 18.1 million Euro in 2008 to 16.1 million Euro in 2009. The EBITA margin fell from 15.8% in 2008 to 14.5% in 2009.
Personnel and marketing expenses were reduced by 2.4 million Euro or 8% in 2009 compared to the previous year.
The board said in a statement "due to the current economic climate and the possibly negative developments in the labour market we do not anticipate an increase in demand for our services in 2010. We therefore anticipate stagnation or a slight fall in revenues for 2010. We expect to make profits in 2010, which should be above industry average."
Amadeus Fire AG will publish their final results for FY2009 on 17 March 2010.
In early trading Amadeus' shares were down by -0.58% to 17.05 Euro.