Amadeus Fire AG Announces Record Financial Results for Fiscal Year 2023

Amadeus Fire Group has confirmed its preliminary financial results for the fiscal year 2023, showcasing substantial growth. The company reported a consolidated revenue increase of 8.7 percent to €442.4 million. Additionally, operating EBITA rose by 3.5 percent to €70.4 million, setting new record levels for both metrics.

The Training segment of the company particularly stood out, almost doubling its operating segment result with an increase of 92 percent, despite facing a value adjustment of €1.7 million on an IT project. This significant achievement highlighted GFN's contribution with an impressive operating EBITA margin of around 10 percent since its incorporation into the group.

Despite achieving milestones, the Personnel Services segment faced challenges, including an exceptionally high sickness rate, which negatively impacted revenue and earnings. The segment’s result for 2023 was 13 percent lower than the previous year and below initial expectations, with the company short of its target growth of around 7 percent.

Amadeus Fire AG reported a rise in consolidated net income to €40.4 million and an increase in undiluted earnings per share to €7.12 from €6.71 in the previous year. The company plans to propose an 11 percent increase in the dividend to €5.00 per share at the upcoming Annual General Meeting.

Looking forward to 2024, Amadeus Fire Group anticipates a positive economic recovery and aims to achieve between €470 million and €500 million in revenue, alongside an expected increase in operating EBITA to between €74 and 80 million.