Amadeus Fire Group lowers 2024 earnings forecast amid economic woes

FRANKFURT/MAIN - The Amadeus Fire Group, a German company, has revised its full-year 2024 earnings forecast downward in light of the country's economic downturn and a recent decline in order placements. The company's operating EBITA for the first nine months of 2024 reached €46.4 million, a drop of about 14.8% compared to the same period last year and below the company's own projections.

In response to the challenging economic environment and lack of market clarity expected for the remainder of the year, the Management Board has adjusted the operating EBITA forecast for the full year to approximately €58 million. This is a decrease from the previously adjusted guidance of €64-70 million announced at the half-year mark in 2024.

Operating EBITA, as defined by Amadeus Fire Group, represents profit from operations before deductions such as goodwill impairment, amortization of intangible assets from purchase price allocation, and effects from the measurement of purchase price liability of non-controlling shareholders in Amadeus FiRe Weiterbildung Verwaltungs GmbH.

This revised guidance reflects the broader sentiment of pessimism within the German economy, which has been characterized by hesitancy in order commitments. The information is based on a press release statement from the Amadeus Fire Group.

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Source: Investing.com