Amadeus FiRe AG: First quarter results of fiscal year 2011

Amadeus FiRe AG: First quarter results of fiscal year 2011

In the first quarter of fiscal year 2011 the Amadeus FiRe Group achieved consolidated revenues of EUR k 31,003 (prior year EUR k 25,812), an increase of 20 %. The period had one chargeable day more than the respective prior year period.

The different services developed as follows:

• Temporary staffing + 24 %

• Interim and project management - 19 %

• Permanent placement + 78 %

• Training - 6 %

In the first three months the Amadeus FiRe group achieved a gross profit of EUR k 13,005 after EUR k 9,988 in prior year’s quarter. With 41.9 % the gross profit margin was well above the prior year amount of 38.7 %. The higher gross margin was mainly due to the increased share of permanent placement, to the sales of the additional chargeable day and to the increased margin in interim and project

management. The margin for training decreased due to lower attendance figures. In the first quarter selling and administrative expenses came to EUR k 8,522. Compared with EUR k 7,090 recorded last year this was an increase of 20 %.

The operating profit came to EUR k 4,492 and exceeded prior year (EUR k 3,102) by 45%. After three months the EBITA margin was at 14.5 % compared to 12.0% in prior year’s period. 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.