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Amadeus Fire AG Q1 2026: Key Takeaways Presented by Jörg Peters, Head of Investor Relations In this latest financial results presentation on seat11a, Jörg Peters, Head of Investor Relations of Amadeus Fire Group, presents the company’s Q1 2026 financial results and provides an update on current business trends across the Personnel Services and Training segments. Challenging Macro Environment Continues to Impact Personnel Services Amadeus Fire started the year in a still difficult macroeconomic environment in Germany, with weak economic growth, high unemployment, and cautious hiring activity continuing to weigh on the Personnel Services business. Companies remained reluctant to make long-term staffing decisions, recruitment cycles became longer, and candidate willingness to change jobs stayed subdued during the quarter. Against this backdrop, group revenue declined by 9.0% to €89.4 million, while operating EBITA fell to €3.0 million and the operating EBITA margin declined to 3.4%. Nevertheless, management highlighted that business performance stabilised compared with Q4 2025 and developed broadly in line with expectations. Personnel Services Segment Remains Under Pressure The Personnel Services segment remained under pressure, with revenue declining by 17.6% and operating gross profit falling by 18.9% year-on-year. At the same time, the cost and efficiency measures introduced in 2025 continued to show positive effects, helping to stabilise operational performance over the course of the quarter. Management emphasized that strict cost control, productivity management, and cautious internal hiring are expected to support profitability improvements as the year progresses. While the short-term environment remains challenging, the company continues to position itself for improved operating leverage once demand conditions normalise. Training Segment Shows Greater Resilience In contrast, the Training segment delivered a more resilient performance. Revenue increased by 3.4% to €41.8 million, supported by the first-time consolidation of acquisitions such as Masterplan and eduBITES. The B2C business developed stable to slightly positive, while the publicly funded B2G market showed improving momentum compared with the previous quarter. This underlines the increasing strategic importance of the Training segment within the broader Amadeus Fire business model. AI-First Strategy Continues to Advance Strategically, Amadeus Fire continued to advance its AI-first orientation, with a focus on expanding AI-related training offerings and corporate AI learning solutions to address growing demand for digital skills development. The integration of Masterplan and eduBITES supports the company’s ambition to strengthen its position in digital learning, AI-enabled education, and scalable SaaS-driven training solutions. Management continues to view these activities as important long-term growth and margin drivers. FY 2026 Outlook Confirmed Overall, management sees Q1 2026 as the basis for a gradual return to higher profitability over the course of the year and confirmed the outlook for FY 2026. The combination of operational stabilisation, ongoing cost discipline, and improving trends in Training is expected to support a significant increase in earnings as market conditions gradually normalise. ▶️ Other videos: Elevator Pitch: https://seat11a.com/investor-relations-elevator-pitch/ Company Presentation: https://seat11a.com/investor-relations-company-presentation/ Deep Dive Presentation: https://seat11a.com/investor-relations-deep-dive/ Financial Results Presentation: https://seat11a.com/investor-relations-financial-results/ ESG Presentation: https://seat11a.com/investor-relations-esg/ 00:00 Amadeus Fire AG 00:56 Focused specialist provider in Germany 01:36 Development of the real Gross Domestic Product (GDP) 02:14 Highlights at a glance of Q1/2026 02:53 Group | Business development – Q1 2026 04:08 Personal Services | Business development – Q1 2026 05:26 Delimitation of training markets 07:04 Training | Business development – Q1 2026 T&C This publication is for informational purposes only and does not constitute investment advice. Using this website, you agree to our terms and conditions outlined on www.seat11a.com/legal and www.seat11a.com/imprint.

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