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Netherlands – AamigoO makes losses but revenue is up

01 October 2012

The Dutch staffing firm AamigoO Group NV (AMIGO:AEX) has seen “difficult economic conditions” in the first half of the year with the firm making an EBITA loss of €0.73 million  compared to an EBITA profit of €1.30 million a year ago.

The firm reported on Monday that the loss was due to restructuring costs mainly related to the integration of Corso, which the firm acquired towards the end of last year.

But the acquisition has also helped boost the company’s revenue which was up +191% to €206.6 million from €70.96 million a year ago.

In the first half of the year, gross profit rose sharply to €4.6 million from €2.8 million, however, operating expenses increased to €5.3 million from €1.5 million. The company has put together a cost reduction programme to improve operating results.  

During the period, the company faced higher financial expenses of €1.8 million compared to €0.1 million at the same time last year.

AamigoO Group NV is a venture capital company specialising in owning minority shares in non-listed companies with the firm offering staffing services in Europe and the US.

In early trading this morning, the company’ share price dropped by -0.3% to its 52-week low of €3.00, a -25.0% decrease from a year ago. The firm has a market value of €20.41 million. 

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