Strong Amadeus half-year figures reveal earnings up 10.8%

Strong Amadeus half-year figures reveal earnings up 10.8%

Amadeus today reported a strong first half of the year with improved revenues and profits.

The travel technology giant reported a 14.2% rise in revenue to €1.97 billion in the six months to June 30 over the same period in 2014.

Earnings [EBITDA] were up by 10.8% to €778.8 million.

Total travel agency air bookings increased by 10% to 265.9 million, while passengers boarded in its IT Solutions business rose by 7.8% to 354.2 million.

President and chief executive, Luis Maroto, said: “Amadeus has maintained its track record for growth in both revenues and profitability through a combination of market share expansion and growth in its businesses.

“̈Distribution delivered strong revenue growth of 11.3% through a 1.9 percentage point increase in global market share of air travel agency bookings.

“IT Solutions continued its track record for double-digit growth with a revenue increase of 22.3%, with Asia-Pacific remaining the driving force.”

He added: “Our solid business model and our strong cash-flow generation have allowed us to make strategic acquisitions.

“Early in July we announced an agreement to acquire Navitaire, subject to approval by regulators, that once completed will give Amadeus a strong position in IT solutions for the low-cost carriers market.

“Following that, we also announced plans to acquire Netherlands-based Itesso, a provider of cloud-native property management systems for hotels.

“Whilst earlier in the year we accelerated our growth in the Airport IT space with the acquisition of Air-Transport IT Services, a leading company in the segment, with a portfolio of solutions used by 30 of the busiest 50 airports in the US.”

Abacus GDS acquisition completed by Sabre

Sabre has completed the acquisition of Abacus national marketing company, Abacus Travel Systems, based in Singapore.

Sabre finalised the previously announced acquisition of Hong Kong-based Abacus Distribution Systems on July 3.

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