FRANKFURT (dpa-AFX) - The personnel services provider Amadeus Fire expects further growth following an increase in sales and profits last year. In view of the continuing shortage of skilled workers, the company is focusing on growth in the training business. Amadeus Fire wants to improve productivity in personnel services.

In 2024, turnover is set to increase to between 470 and 500 million euros, as the company announced on Tuesday when presenting its final figures in Frankfurt. Operating earnings before interest, taxes and amortization of intangible assets (EBITA) are expected to be between 74 and 80 million euros. Amadeus Fire expects the labor market to remain stable in the current year and the high level of employment to be maintained. The shortage of skilled workers will continue to play a major role and the demand for skilled workers will continue to exceed supply in the future. Amadeus Fire anticipates a significant increase in sales in the training sector.

In the previous year, consolidated sales rose by 8.7% to EUR 442.4 million, while operating EBITA increased by 3.5% to EUR 70.4 million. The company thus achieved new record figures. However, Amadeus Fire fell short of its earnings target due to a weaker final quarter in which a high sickness rate weighed on the personnel services business. In contrast, the training segment performed better than expected in 2023.

The company thus confirmed preliminary figures. On balance, profit increased from 38.4 million to 40.4 million euros. Shareholders are to receive a 50 cent higher dividend of 5.00 euros per share.

The share, which is listed in the small-cap segment SDax, jumped by more than eight percent to around 120 euros by midday. The share thus led the list of winners in the index by some distance.

Analyst Andreas Wolf from Warburg Bank confirmed that the outlook for the Frankfurt-based company was positive. He explained that the average of the operating EBITA range was above his estimate. In addition, the increased dividend underlines the strong cash inflows that the business model can generate. Wolf recommends buying the shares with a target price of EUR 180. He thus believes they can make a push towards the record high of EUR 206.50 reached in 2001. In 2024, the shares are still slightly in the red./nas/mne/jha/