Amadeus FiRe stock holds focus on earnings and valuation

Amadeus FiRe (ISIN DE0005093108) remains a numbers-first story for investors, with the latest published report still framing the stock around revenue, profit, and margin trends. The companys investor relations page is the central source for those figures and for the latest corporate updates.

Latest published figures

Amadeus FiRe reported revenue of EUR 392.4 million in fiscal 2024, compared with EUR 437.2 million in fiscal 2023, a decline of 10.2%. Adjusted EBITDA came in at EUR 49.8 million in 2024, versus EUR 71.0 million a year earlier, while adjusted EBITDA margin narrowed to 12.7% from 16.2%.

Net income for 2024 was EUR 21.6 million, down from EUR 38.5 million in 2023. That makes margin control the key question, not top-line growth alone, because the business is still absorbing a softer staffing market.

Revenue down 10.2%

The 10.2% revenue decline is the clearest comparison in the latest set of numbers, and it matters because Amadeus FiRe is a staffing and training group whose profitability depends heavily on utilization and demand conditions. The 2024 decline was paired with a 29.9% drop in adjusted EBITDA, which shows that earnings fell faster than sales.

For investors, that gap between revenue and adjusted EBITDA is more important than the absolute size of either figure. It indicates that operating leverage has turned negative, at least in the most recent published year.

Margin still does the work

The adjusted EBITDA margin of 12.7% in fiscal 2024 remains a useful reference point for valuation because it sits below the 16.2% level from fiscal 2023. Net income of EUR 21.6 million also leaves a profitability base, but it is thinner than the EUR 38.5 million recorded a year earlier.

That mix of lower revenue, lower EBITDA, and lower net income is the main reason the stock tends to trade on execution rather than on a simple growth story. The market usually rewards any sign that the margin line stabilizes before it re-rates a staffing name.

Recruitment demand matters

Amadeus FiRe operates in professional staffing and training, so order flow and hiring demand can shift quickly with the broader labor market. That makes the companys segment mix and utilization rates more important than headline revenue alone.

The latest annual numbers show why: revenue fell, EBITDA fell faster, and net income also came down. If demand improves, the first visible payoff is usually in EBITDA margin rather than in a dramatic change in revenue.

Staffing as the core product

Amadeus FiRe acts as a specialist provider in personnel services and training, which means its economics are tied to placement volume, billable hours, and client demand for qualified staff. In that model, even modest changes in volume can have an outsized effect on margin.

The 2024 figures show a business that is still profitable but moving through a softer phase than the prior year. Revenue of EUR 392.4 million and net income of EUR 21.6 million remain the anchor numbers for the story.

Valuation needs a price anchor

The article focuses on the latest published operating data because no dated market quote is available in the current source set. For valuation, the practical reference remains the 2024 revenue of EUR 392.4 million, adjusted EBITDA of EUR 49.8 million, and net income of EUR 21.6 million, all from the latest annual reporting cycle.

Amadeus FiRe stock is best read through those numbers first, because they show the scale of the slowdown and the level of profitability that remains in place. The company is listed in Germany, and the latest annual report is still the most concrete guide to the stocks current fundamentals.

Company details

• Company: Amadeus FiRe AG
• ISIN: DE0005093108
• Ticker: XETRA: AAD
• Trading venue: Xetra
• Sector / Industry: Industrials / Professional Staffing and Training
• Index membership: SDAX
• Market capitalization: EUR 0 (as of 24 July 2026)