The personnel service provider Amadeus FiRe continued on its growth course from the first quarter.
In the first six months of the current financial year, the training business in particular performed significantly better than a year earlier. The personnel services segment continued to be stable. The demand from companies for specialists and executives is overall at a good level, the company announced on Tuesday in Frankfurt. The Executive Board confirmed the earnings target for the full year 2023.
However, things are not looking good for the stock on Tuesday: the paper temporarily fell to its lowest level since November. At times, the price loss in XETRA trading was 5.70 percent to EUR 105.80 – making the value the second weakest in the SDAX.
Sales increased by 7.8 percent to EUR 216.7 million in the first half of the year. The company benefited from strong demand for further training measures. The proceeds from Comcave, GFN and the companies of Steuer-Fachschule Dr. Endriss increased by a quarter. The personnel services segment, on the other hand, only increased slightly. While permanent placement was able to increase significantly, sales of temporary staffing and interim management services declined slightly.
Adjusted for special effects, earnings before interest, taxes and goodwill amortization (Ebita) improved by 10.3 percent to EUR 32.9 million. The bottom line was 19.9 million euros after 16.6 million a year earlier.
The management confirmed the profit forecast for the current year. Amadeus FiRe therefore sees the adjusted operating result at 73 to 79 million euros. A year earlier, the company reported 68 million.
Warburg Research leaves Amadeus Fire on ‘Buy’ – target 180 euros
The analysis house Warburg Research has left the rating for Amadeus FiRe on “Buy” after quarterly figures with a target price of EUR 180. The recruitment agency’s good sales growth reflects continued market share gains, wrote analyst Andreas Wolf in a study published on Tuesday. The free cash flow yield is attractive and the good long-term prospects are intact.
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FRANKFURT (dpa-AFX) / HAMBURG (dpa-AFX Broker)
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