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MarketScreener Homepage  >  Equities  >  Xetra  >  Amadeus FiRe AG    AAD   DE0005093108

AMADEUS FIRE AG

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Amadeus FiRe : successfully acquired 100% of the shares in GFN AG, Heidelberg

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09/15/2020 | 09:20am EDT

15.09.2020 [Pressemeldung, News]

Frankfurt/Main, 15 September 2020 - The Amadeus FiRe AG concluded a purchase agreement yesterday evening for 100% of the shares in GFN AG, headquartered in Heidelberg. The Amadeus FiRe Group has taken a further consistent step in the expansion of its training business. Similar to the Comcave Group, which became part of the Group in December 2019, GFN focuses as a training provider on the market for publicly funded adult education. 'We are very pleased to have found a further strategic reinforcement for the Amadeus FiRe Group in GFN. GFN's specialization in IT qualifications and the high level of recognition in this particular qualification environment are an excellent fit for us,' said spokesman of the Management Board Robert von Wülfing. 'The business segments education and personnel services mutually strengthen each other, especially in the light of the particularly pronounced shortage of skilled workers in Germany in the IT environment.' Manfred Winter, founder, long-time chairman of the board and one of the main shareholders of GFN AG, adds: 'For our company and for our employees, the engagement of Amadeus FiRe AG as the new owner of the company represents a positive and consequent step to lead the company into a successful future.

GFN AG is expected to achieve sales of around 25 million euros in 2020 with a neutral operating result. The purchase price for 100% of the shares of GFN AG is around 6 million euros. The Management Board of Amadeus FiRe AG is convinced to be able to develop GFN in a sustainable profitable direction. Among other things, this should be possible by leveraging the high market-specific system and process competence in the training segment of the entire Amadeus FiRe Group. Furthermore, the group has profound know-how for the particular market of subsidized further education and in the B2B area.

Dennis Gerlitzki, responsible for the personnel services segment within the Management Board of Amadeus FiRe, is very excited about the cooperation. 'For us, access to qualified candidates is the main bottle-neck in the search for candidates and employees. In my view, a systematic cooperation is a unique opportunity for the IT training participants to receive assistance from Amadeus FiRe in finding a smooth transition into the labor market. Personnel services for IT professions is one of our core competencies'.

About Amadeus FiRe
Amadeus FiRe AG, founded in 1986 and headquartered in Frankfurt am Main, is active in the segments of Personnel Services and Training & Education.
In the Personnel Services segment with its 20 locations, Amadeus FiRe is focusing on functions in the administrative, commercial and IT sectors throughout Germany with the services temporary staffing, permanent placement and interim and project management. The company is the market leader for personnel services in accounting in Germany.
With its second business segment, the Amadeus FiRe Group is operating in the special market of professional Training & Education. The Tax College Dr. Endriss and the IFRS Academy are a well-established and market leading provider of professional training in tax, finance, accounting and controlling. The Comcave College is one of the leading providers in Germany for subsidized occupational retraining and advanced vocational training for administrative, IT and media qualifications with over 50 locations nationwide.
The Amadeus FiRe AG (ISIN DE 0005093108), which has been listed on the stock exchange since 1999 and is SDAX-listed, achieved sales of over 233 million euros (excluding Comcave) in the 2019 financial year with a total of almost 3,200 employees.

Further information is available at www.amadeus-fire.de.

About GFN
GFN AG is a German IT training provider and cooperates with well-known industry partners (including SAP, AWS, Microsoft) to offer specific training and certified qualifications. With more than 25 locations and over 200 employees, the company is expected to achieve sales of around 25 million euros in 2020. In addition to the publicly funded occupational retraining and advanced vocational training business, GFN also offers a services for corporate customers. The education and integration programs create the basis for personal and professional development and integration into the labor market for people in different life and work situations.

Further information is available at www.gfn.de.

Amadeus FiRe AG
Jan H. Wessling
Investor Relations
Phone: +49 (69) 96 876-180
Investor-Relations@Amadeus-FiRe.de

Disclaimer

Amadeus Fire AG published this content on 15 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2020 12:19:10 UTC


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Sales 2020 278 M 330 M 330 M
Net income 2020 14,0 M 16,6 M 16,6 M
Net Debt 2020 87,4 M 104 M 104 M
P/E ratio 2020 38,2x
Yield 2020 1,12%
Capitalization 562 M 665 M 667 M
EV / Sales 2020 2,34x
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Free-Float 99,6%
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Average target price 165,00 €
Last Close Price 98,30 €
Spread / Highest target 67,9%
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NameTitle
Robert von Wülfing Chairman-Management Board & CFO
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Dennis Gerlitzki Chief Operations Officer
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