AMADEUS FIRE AG

Earnings Release • Jul 21, 2003

News Details

Ad-hoc | 21 July 2003 08:03

Amadeus AG english

First quarter results of Amadeus AG in fiscal year 2003/2004 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Frankfurt/Main, 21st of July 2003. After three months of the fiscal year 2003/2004 Amadeus AG Human Resource Services and Solution Provider achieves consolidated sales revenues of KEUR 12.466 (prior year: KEUR 16.126), a decline of 22,7%. Sales revenues for the first quarter are in line with the plan for fiscal year 2003/2004. Following a very strong 1st quarter of fiscal year 2002/2003 with a growth of 9% in temporary staffing, contrary to a declining German market, sales dropped notably. Mainly this is caused by the late cyclical slump in demand especially in the area of finance and accounting. The group continues to strengthen its leading training and education market position in accounting and tax. The gross profit margin gained 170 basis points, improving from 37,0% to 38,7%. The adjusted gross profit margin in temporary staffing has been increased significantly compared to the previous quarter, reflecting an improved utilization rate. Up to June 30, 2003, the EBITA totals to KEUR 251 (prior year: KEUR 1.185), a reduction by 78,8%. The EBITA margin for the first three months was 2,0% compared to 7,4% in prior year’s quarter. The planned result for the first quarter was slightly exceeded. The ongoing weak economic situation continues to burden the German staffing industry. In general 1st quarter sales revenues and profitability are impacted by many not chargeable bank holidays falling in that period. An improvement is expected in the following quarters. The utilization rate is expected to stabilize on a higher level. The management reinforces the stated projections to achieve full year sales of some EUR 54 million and an EBITA margin of 5%. The current quarter 1 report is available for download on the Amadeus’ homepage http://www.AmadeusAG.com . Amadeus AG Robert v. Wuelfing Investor Relations Tel: +49 (69) 96 876-180 Investor-Relations@AmadeusAG.de end of ad-hoc-announcement (c)DGAP 21.07.2003 ——————————————————————————– WKN: 509310; ISIN: DE0005093108; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf und Stuttgart 210803 Jul 03