FRANKFURT (dpa-AFX) - A more cautious earnings outlook for 2023 from Amadeus Fire initially weighed on the shares of the personnel services provider on Tuesday morning. They fell on the trading platform Tradegate compared to the Xetra close by 3.4 percent to 103.40 euros. This brings the support around 105 euros into focus once again, which has provided support time and again since the share price slipped by around a quarter from the end of March to the beginning of July.

Due to the weak economy in Germany, the company, which is listed on the small-cap index SDax, expects operating earnings before interest, taxes and amortization of goodwill (Ebita) to grow by only 7 to 9 percent. This would mean that only the lower end of the earnings corridor forecast at the beginning of the year would be reached.

However, as the personnel services segment had already disappointed recently, the market's profit expectation had already been below the original target, said a trader. Therefore, the new outlook is only surprising to a limited extent.

Personnel services are the Group's main revenue generator. Meanwhile, the training segment had performed better than the board had expected at the beginning of the year, the company said./mis/jha/