19.07.2018 | Press Release

Half-Yearly Financial Report 2018

Frankfurt/Main 19 July 2018. In the first six months of fiscal year 2018 the Amadeus FiRe Group achieved consolidated revenue of EUR 97.8 million (prior year: EUR 88.7 million); an increase of 10.3%. All business segments contributed to the growth in revenue. In particular, revenue of Permanent Placement increased significantly year-on-year.

Revenue from the individual services developed as follows:

	Change in percent
Temporary Staffing	+ 7.3%
Permanent Placement	+ 23.6%
Interim-/Project Management	+ 3.6%
Training	+ 11.9%

The number of billable days in the reporting period was one day less than in the prior-year period. This had a negative impact of EUR 0.5 million on revenue, gross profit and earnings before taxes. Later in the year, this will be countered and ultimately neutralised by an extra billable day in the fourth quarter.

In Temporary Staffing the number of contracts at the start of the year was down by around 3% as a direct result of the first-time application of the equal pay regulation to the entire order backlog. In addition, sales in temporary work were burdened by an unusual flu outbreak in Germany in the first quarter and the one less available working day in the first half of the year.

The Amadeus FiRe Group’s gross profit climbed by 11.7% to EUR 45.5 million. The gross profit margin improved by 0.6 percentage points to 46.5%. The rise in margins can be attributed primarily to a growth-driven increase in the share of revenue generated by the higher-margin service Permanent Placement.

Selling and administrative expenses increased by 14.6% to EUR 30.4 million over the same period. This increase is largely due to higher personnel expenses. The successfully implemented investments in the sales organisation and the filling of previously open vacancies were the main drivers. Furthermore, the administrative implementation of the equal pay regulation and the introduction of aspects of new sales software led to increased expenditure.

EBITA climbed by 6.3% to EUR 15.2 million. This increase was achieved despite one billable day less in the reporting period compared to the same period of the previous year. The EBITA margin was 15.5% in the reporting period after 16.1% in the previous year.

Net income for the first half of 2018 amounted to EUR 10.4 million, bettering the figure for the previous year by 5.8%. Earnings per share, based on the net profit for the period attributable to the ordinary shareholders of the parent company, rose by 11 cents to EUR 1.93.

The Management Board is confirming its forecast of slightly increasing EBITA for the 2018 financial year.