AMADEUS FIRE AG

Earnings Release • Apr 28, 2003

News Details

Ad-hoc | 28 April 2003 08:14

Amadeus AG english

Preliminary figures for fiscal year 2002/2003 of Amadeus AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Frankfurt/Main, 28th of April 2003. Amadeus AG Human Resource Services and Solution Provider achieves a clear above average result in a very difficult year for the staffing industry. In a negative market environment Amadeus’ sales declined by approx. 6% to Euro 61,6 mill. (prior year excluding Amadeus IT) whereas the staffing industry suffered from a market decline of at least 15%. Therewith the Amadeus group extended its market share further. The group’s gross profit margin in fiscal year 2002/2003 declined by approx. 2 percentage points. This decline results in particular from declining sales in permanent placement and an decreasing utilization rate caused by a reduction in demand for temporary staffing services. Amadeus’ operating result (EBITA) amounts to approx. Euro 4,5 mill., a decline of 47 % compared to prior year result (prior year excluding Amadeus IT). Due to an ongoing decline in demand in the fourth quarter of fiscal year 2002/2003 the Amadeus group reacted on this development with further cost cuttings by adjusting the payroll particularly. These costs had a negative impact on the quarterly result. It is assumed that the staffing industry will again decline in 2003. Especially the temporary staffing services in finance and accounting are considered to be late cyclical. Therefore, the Amadeus group expects decreasing sales revenues for fiscal year 2003/2004 unless an economic pick-up will arise. In fiscal year 2003/2004 the management board expects positive results above market average. After the outflow of outstanding purchase price rates for acquisitions made in previous periods in the amount of Euro 4,8 mill. Amadeus group’s cash position amounts to Euro 14 mill. as of 31st March 2003. As prior year the Management Board of Amadeus AG will propose to distribute a dividend of Euro 0,42 per share at the shareholders’ general meeting. The final figures for fiscal year 2002/2003 will be announced during a press conference/analyst’s meeting on 17th June 2003. Amadeus AG, Robert v. Wuelfing, Investor Relations end of ad-hoc-announcement (c)DGAP 28.04.2003 ——————————————————————————– WKN: 509310; ISIN: DE0005093108; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf und Stuttgart 280814 Apr 03