Amadeus FiRe AG: First quarter results of fiscal year 2017
Press ReleaseAmadeus FiRe AG: First quarter results of fiscal year 2017Frankfurt/Main, 24 April 2017 In the first quarter of the 2017 financial year, the Amadeus FiRe Group generated consolidated revenue of EUR 44,848k, an increase of 11.6% (previous year: EUR 40,181k). The following sales were attributed to the individual services:
The higher revenue from temporary staffing compared to the previous year is mainly attributable to three more billable days in the first quarter of 2017. This corresponds to an effect of around EUR 1.5 million on revenues, gross profit and earnings. In this regard, it should be noted in the further course of the year that the remaining nine calendar months have six fewer billable days than in the previous year. The positive effect from the first quarter will be reversed over the rest of the year. Finally, there will be a negative effect on sales, gross profit and earnings in 2017 due to three fewer billable days. There is still a shortage of qualified temporary staff on the labour market and a tendency among customer companies to conclude permanent rather than temporary employment contracts.
The development of permanent placement is partly attributable to the modified companies' hiring practices as described above. Due to the lack of qualified staff, companies are able to fill vacancies with suitable candidates only at an inadequate and slow rate. According to this the demand for the permanent placement service remains positive.
Sales in the Training and Education segment rose by 10.6% to EUR 4,306k in the first quarter (previous year: EUR 3,893k). Due to the calendar situation of Easter holidays, there were more training days available in the first quarter of 2017.
The gross profit of the Amadeus FiRe Group increased to EUR 19,913k (previous year: EUR 16,649k). Gross profit margin improved by 3.0 percentage points from 41.4% to 44.4%. The main drivers were the further increase in the share of permanent placement revenues and the effect of the three additional working days in the first quarter of 2017.
Selling and administrative expenses amounted to EUR 12,529k in the reporting period (previous year: EUR 11,072k). The increase of 13.2% resulted primarily from higher staff costs due to the expansion of the sales organization, salary increases and higher performance-based bonuses in sales. EBITA for the first quarter amounted to EUR 7,434k (previous year: EUR 5,629k), representing an increase of EUR 1,805k or 32.1%. However, comparability with the previous year is limited due to the high number of billable days in the quarter under review. EBITA margin rose by 2.4 percentage points to 16.6% (previous year: 14.0%). Net profit for the period under review amounted to EUR 5,029k (previous year: EUR 3,794k). Earnings per share based on the net profit for the period attributable to the ordinary shareholders of the parent increased by 24 cents to EUR 0.96 in the first quarter (previous year: EUR 0.72). Further details on the unchanged forecast can be found in the forecast section of the 2016 annual report.
Amadeus FiRe AG Thomas Weider Investor Relations Tel: +49 (69) 96 876-180 Investor-Relations@Amadeus-FiRe.de
End of Media Release Issuer: Amadeus FiRe AG Key word(s): Services
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Company: Amadeus FiRe AG Darmstädter Landstr. 116 60598 Frankfurt
Germany Phone: +49 (0)69 96876 - 180 Fax: +49 (0)69 96876 - 182 E-mail: email@example.com Internet: www.amadeus-fire.de ISIN: DE0005093108 WKN: 509310 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP Media