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Amadeus FiRe AG temp and interim divisions bring revenue down 2.2% YoY

Amadeus FiRe Group has released its first quarter 2016 financial results, confirming consolidated revenue of EUR 40,181k, down 2.2% on the same quarter of the previous year (EUR 41,096k).


The temporary staffing division generated EUR 29.126k in Q1 2016, down -4,6% from EUR 30.540K in Q1 2015. The interim/project management division generated EUR 2.300K IN Q1 2016, down -9,2% from EUR 2.533k in Q1 2015. However, Q1 2016 saw the permanent placement division generate EUR 4.862K in Q1 2016, up 12,1% from EUR 4.337K in Q1 2015.

Total revenue for the divisions in Q1 2016 was EUR 36.288, down 3% from 37.410 in Q1 2015. Revenue for segment training in Q1 2016 was EUR 3.893k, up 5,6% from EUR 3.686k IN Q1 2015.


in EUR k

Q 1 2016   

Q 1 2015   

Divergency in %  





Temporary staffing
















Permanent placement








Total segment








Segment training













The Group stated the lower revenue from temporary staffing compared to the previous year is attributable to the shortage of qualified temporary staff. In addition, the growing trend among customer companies towards giving qualified candidates a permanent position also contributed to the decline in temporary staffing.


The Group reported the number of orders in temporary staffing has been down year-on-year since the beginning of the year, announcing general salary increases and collective wages increases in the temporary employment sector resulted in a price increase of 1.7%.


It stated permanent placement is benefiting from the change in companies' hiring practices. The shortage of qualified personnel is still making it more difficult for companies to fill vacancies with suitable applicants.


Sales in the training and education segment rose by 5.6% to EUR 3,893k in the first months of the financial year (previous year: EUR 3,686k). This growth was achieved in spite of Easter holidays which came earlier than in the previous year, which meant that the course programme in March was thinned out.


The gross profit of the Amadeus FiRe Group decreased slightly to EUR 16,649k (previous year:  EUR 16,898k). Gross profit margin improved by 0.3 percentage points from 41.1% to 41.4%. In contrast to the same period of the previous year, there was not an unusually high level of illness among temporary staff in the reporting period, which had a positive impact on the gross profit margin. The further increase in permanent placement revenues also had a positive impact.

EBITA amounted to EUR 5,629k in the first quarter (previous year: EUR 6,043k), representing a decline of 6.8%. EBITA margin fell by 0.7 percentage points to 14.0% (previous year: 14.7%).
Revenues in the personnel services segment contributed EUR 5,351k (previous year: EUR 5,754k) to the EBITA generated, while the training segment contributed EUR 278k (previous year: EUR 289k). Due to the annual training course schedule the first quarter is generally the weakest quarter of the year in the training segment.


Net profit for the period under review amounted to EUR 3,794k (previous year: EUR 4,063k). Earnings per share based on the net profit for the period attributable to the ordinary shareholders of the parent fell by 6 cents to EUR 0.72 in the first quarter (previous year: EUR 0.78).


The Group confirmed a moderate revenue growth still is the objective for both the personnel services segment and the training segment.


It added, owing to the planned cost increases arising from strengthening the sales organization, the enhancement of competitiveness and the implementation of the new frontend software, EBITA for 2016 is still expected to be between five and ten percent below the 2015 result.


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