Amadeus FiRe AG: Half year results of fiscal year 2011

Amadeus FiRe AG: Half year results of fiscal year 2011

In the first six months of fiscal year 2011 the Group achieved consolidated revenues of EUR k 62,862 (prior year EUR k 54,025). This is an increase in revenue of 16.4%. The period had one chargeable day more than the respective prior year period.

Sales of individual services developed as follows:

• Temporary staffing +18 %

• Interim and project management - 18 %

• Permanent placement +73 %

• Training - 0 %

After the first six months of the fiscal year, gross profit of the Amadeus FiRe Group amounted to EUR k 26,238 after EUR k 20,923 in prior year’s period, an increase of 25.4%. Amounting to 41.7% in the half year the gross profit margin was 3.0 per cent points above the comparable prior year amount.

This development is mainly due to the increased share of permanent placement, to the sales of the additional chargeable day and to the increased gross profit margin in interim and project management. The gross profit margin for training decreased, however, partly due to lower attendance figures.

In the first six months selling and administrative expenses increased by 17.4 % to EUR k 16,657 compared to EUR k 14,194 recorded last year.

Profit from operations came to EUR k 9,619 and exceeded prior year (EUR k 6,935) by 38.7 %. After six months the EBITA margin is at 15.3 % compared to 12.8 % 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.