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Amadeus FiRe announce half year results

In the first six months of the 2014 financial year, the Amadeus FiRe Group generated consolidated sales of EUR 75,512k (prior year: EUR 68,413k), an increase of 10.4%. Sales improved in all services. The reporting period had the same number of chargeable days as the respective prior year&acutes period.

Sales of individual services developed as follows:

&middot         Temporary staffing                                      13%

&middot         Interim and project management               4%

&middot         Permanent placement                                6%

&middot         Training                                                          1%

After the first half year, gross profit of the Group amounted to EUR 30,585k. The increase of 10.3% compared to prior year mainly arose from temporary staffing. Thereby the gross profit margin was unchanged year-on-year at 40.5%. Positive margin effects from all three personnel services were neutralised by a decrease in margin of the training segment.

In the reporting period, selling and administrative expenses came to EUR 20,271k after EUR 18,259k recorded last year. The increase of 11.0% was essentially due to personnel expenses. In addition to general salary improvements, expenses increased for performance-based remuneration and additional staff of the sales organisation.

The operating profit (EBITA) amounted to EUR 10,331k and hence exceeded the prior year&acutes result of EUR 9,512k by 8.6%. The EBITA margin fell slightly by 0.2 percentage points to 13.7% (prior year: 13.9%).

Based on the current order situation and the further process of increasing the productivity, while macroeconomic factors develop as assumed, the Management Board maintains the expectations that sales will exceed EUR 150m and earnings will increase in the current financial year again.

The complete report is available at www.amadeus-fire.de.

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