Amadeus reports solid start to 2018 in first-quarter trading update

Amadeus reports solid start to 2018 in first-quarter trading update

Amadeus reported a strong start to 2018 with revenues increasing 3.1% to €1,230.00 million in the first three months of its financial year.

The group reported adjusted profit of €305.6 million for the quarter to the end of March, an increase of 4.3% on the same period last year.

EBITDA, a measure of profitability, increased 7.4% to €539.0 million and travel agency air bookings reached 160.0 million, up 3.7%.

The firm said its financial performance was negatively impacted by the US dollar depreciation relative to the Euro.

But it added its underlying business performance continued to be “very strong”. Excluding foreign exchange effects, both revenue and EBIDTA grew at a high single-digit growth rate.
Amadeus’s IT Solutions division saw the number of airline passengers boarded increase 22.7% to 416.9 million.
Luis Maroto, president and chief executive of Amadeus, said: “Amadeus has started the year with positive financial results.
“The solid operating performance of our businesses contributed to an 8.2% increase of our revenues and 7.9%(3) increase of EBITDA, when excluding FX, which has been a negative headwind these first three months of the year“.

“Air volumes in our Distribution segment grew at a steady pace. We also continued to secure and expand content for our subscribers by renewing or signing content agreements with nine airlines“.

“In IT Solutions, we saw progress throughout our customer base, with new contracts such as the one with Philippine Airlines for Altéa or the one with ASA Cape Verde Airports, which contracted ACUS Mobile during the quarter.

“We also progressed well on our upselling efforts, with existing customers like Qantas contracting further Amadeus solutions.

“Our international footprint continued to expand: 65.3% of our passengers boarded were generated outside Europe. In Airport IT, we now serve 280 customers around the world.

“We look at the rest of the year with confidence and expect to maintain a positive growth trend“.

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