Amadeus Fire AG Adjusts 2024 Forecast Amid Challenging Economic Conditions

The Amadeus Fire Group experienced a positive close to the first half of 2024 following a challenging start and a difficult economic environment. Group operating EBITA rose by 4.7 percent in the second quarter compared to the previous year. However, the first half of 2024 ended with Group operating EBITA down by 12.1 percent year-on-year, at €28.9 million.

The Training segment recorded a significant earnings increase, continuing its positive momentum. In contrast, the personnel services market faced pressures due to reduced hiring desires among companies and job-seeking reluctance. Consequently, gross profit in this segment fell by 2.2 percent in the second quarter compared to last year.

The Management Board has lowered its 2024 financial year forecast, now expecting Group operating EBITA to range between €64 million and €70 million, down from last year's €70 million. The forecast revision reflects a conservative outlook for the market's recovery throughout the remainder of the year.