Amadeus Fire AG Reports Mixed Results for Q1 2024

Amadeus Fire Group observed a 3.4 percent increase in revenue during the first quarter of 2024, with particular success noted in its training segment, which saw revenues climb by 15.6 percent to €43.2 million. This increase was largely driven by publicly funded training programs, which experienced growth of approximately 20 percent. However, revenue from the personnel services segment did not perform as well, decreasing by 2.8 percent due to economic slowdowns and fewer billable days.

The company's operating EBITA fell by 24.3 percent compared to the previous year, influenced by two fewer working days in the quarter and the early occurrence of national Easter holidays resulting in reduced business activities. Despite these challenges, the operating EBITA of the training segment significantly outperformed last year's figures, while the personnel services segment lagged behind.

Demand for personnel services continues to be robust, spurred by an ongoing shortage of skilled labor. However, economic uncertainties are affecting recruitment processes, leading to a decrease in both client companies' willingness to hire and candidates' willingness to change jobs. For the entire year, Amadeus Fire Group projects revenue growth of 6 to 13 percent, achieving €470 to €500 million, with operating EBITA expected to increase by 5 to 14 percent.