Amadeus Fire shares fall after FY core profit cut

Amadeus Fire AG

23/07/2024 07:35

** Shares in Amadeus Fire  AMDG.DE  fall 2.6% in early
Frankfurt trade after the German recruiter lowered its core
profit guidance for 2024
    ** The company now expects group operating EBITA to be in
the range of 64 million to 70 million euros  ($69.66-$76.19
million), compared to previously expected 74 to 80 million euros
    ** "The economy could improve marginally, but the economic
situation will continue to be  characterised by caution and
restraint on the part of the company," Amadeus said, expecting
no general improvement in economic development for the rest of
the year
    ** "Warning should weigh on shares at least first. But some
analysts saw the guidance at risk which could mitigate the
negative surprise," a local trader says in a note
    ** The stock, which has lost 20.3% YTD, is seen among the
worst performers of Germany's small-cap index  .SDAXI 



($1 = 0.9188 euros)