AMADEUS FIRE AG

Earnings Release • Oct 21, 2002

News Details

Ad-hoc | 21 October 2002 10:32

Amadeus AG english

Strong Results of Amadeus AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Frankfurt/Main, October 21, 2002. In the first half year of fiscal year 2002/2003 Amadeus slightly increased the consolidated sales revenues by 0,1% to KEuro 32.863 (excluding Amadeus IT Consulting GmbH, sold March 27, 2002), while the staffing market decreased by approx. 15% in the comparison period. Contrary to the negative trend sales revenues increased in the areas of temporary staffing and education & training, extending the market leadership in finance and accounting. After six months the Amadeus Group achieved a gross profit of KEuro 12.897 (prior year adjusted: KEuro 13.803). For the half year the gross profit margin was 39,2% (prior year adjusted: 42,0%). Mainly the decrease of the margin is impacted by declining revenues in the areas of interim management, permanent placement and executive search as well as by a lower utilization rate in the comparison period. The adjusted margin decrease in the 2nd quarter was 1,1% after 4,5% in the 1st quarter. The EBITA for the first six months totals KEuro 3.482. For the first half year the EBITA margin amounts 10,6% (prior year adjusted: 14,5). After achieving 7,4% (prior year adjusted: 14,2%) in quarter 1 the EBITA margin improved to 13,7% (prior year adjusted: 14,9%) in quarter 2. The net income after minorities totals KEuro 1.471 for the half year, a decrease of adjusted 32,1%. Currently there are no indications that the economy will pick up. The originally projected German GDP growth of 0,75% for calendar year 2002 was revised to 0,1%. A recovery is expected for the second half of calendar year 2003 earliest. The staffing industry market is expected to decline in calendar year 2002 by at least 15%. The Amadeus Group resisted that development due to its specialisation and positioning and largely achieved the planned half year figures. Due to the worse than originally expected economic outlook the management reduces the projections for the second half year by some 17% to Euro 33,1 million revenues and an EBITA margin of 11,4%. The current half year report is available on http:/www.AmadeusAG.com. Amadeus AG, Investor Relations, Tel: +49 (69) 96 876-180 end of ad-hoc-announcement (c)DGAP 21.10.2002 ——————————————————————————– WKN: 509310; ISIN: DE0005093108; Index: SDax Listed: Amtlicher Markt in Frankfurt (SMAX), Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 211032 Okt 02