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Germany - Amadeus FiRe's EBITDA up +41.8%

28 April 2011

Revenues were up by +20.1% from 25.8 million Euro in Q1 2010 to 31 million Euro in Q1 2011 at Amadeus FiRe AG (AAD:GER), the temporary and permanent staffing group. Interim results for the three months ended 31 March 2011, reveal that gross profit was up by +30.2% from 10 million Euro in Q1 2010 to 13 million Euro in Q1 2011.

EBITDA was up by +41.8% from 3.3 million Euro in Q1 2010 to 4.7 million Euro in Q1 2011.

Profit for the period was up by +43.1% from 2 million Euro in Q1 2010 to 2.8 million Euro in Q1 2011.

Revenues generated from temporary staffing were up by +24% from 19.2 million Euro in Q1 2010 to 23.8 million Euro in Q1 2011.

Revenues generated from permanent staffing were up by +78% from 1.6 million Euro in Q1 2010 to 2.8 million Euro in Q1 2011.

Revenues generated from interim and project management were down by -19% from 2.3 million Euro in Q1 2010 to 1.8 million Euro in Q1 2011.

Revenues generated from professional training were down by -6% from 2.7 million Euro in Q1 2010 to 2.6 million Euro in Q1 2011.

The group says in a statement "given the general economic and industry-specific outlook, the Amadeus FiRe Group's business prospects for the rest of this financial year still remain positive. Business in the temporary staffing areas has developed satisfactorily in the year to date. In an increasingly tight labour market, it is becoming more and more difficult to hire qualified staff."

"The group expects demand for permanent placement/recruitment and interim/project management to remain steady over the year. Due to forthcoming events, Amadeus FiRe expects that the training division will deliver a higher earnings contribution in the next three quarters than in the first quarter."

"On the basis of the current order situation and under constant economic general conditions, the Management Board of the Amadeus FiRe Group anticipates a positive result for fiscal year 2011 that will be higher than the industry average despite the planned investments in personnel in the existing branch network."

In early trading Amadeus FiRe's shares were up by +0.31% to 31.25 Euro.

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