Amadeus Q1 results show record revenues for Opodo

Amadeus-owned OTA Opodo has recorded revenues of €26.7m for the first three months of the year

Amadeus-owned OTA Opodo has recorded revenues of €26.7m for the first three months of the year.

The €26.7m represents an improvement on the first three months of 2009 when revenues came in at €24.7m.

The figures are revealed in Amadeus’s first financial filing since it returned to public ownership and was listed on the Madrid exchange. No other details about Opodo – such as gross bookings, site traffic or product document – are featured in the five-page document.

Amadeus’s other business units have had a strong start to the year. Its distribution services, primarily its GDS role – recorded revenues of €538.2m compared with 478.7m in H1 09. Its IT solutions unit services unit also performed well, lifting revenues this quarter to €146.8m from €130.8m.

The three units’ combined revenues of €705.3m represent an increase of 13% on Q1 2009. Adjusted net income is 58.1% up at  €128.9m with adjusted EBITDA ahead 26.1% at €280.3m.
 
The statement said that “This continues Amadeus’ trend for steady growth, following an increase in adjusted EBITDA every year between 2004 and 2009.”