Upturn in bookings prompts Amadeus half year profit boost

Growth in travel agency bookings has helped Amadeus increase half year profits by 38%.


Amadeus IT Holding, parent company of the Amadeus Group, reported the year-on-year increase to €246.8 million in the six months to June 30.


This was backed by revenue rising by 11.9% to €1,379.3 million and an improvement in earnings before interest, tax, depreciation and amortization (EBITDA) of 19.9% to €556.7million.


The total number of bookings in the six months rose by 8%, up from 214.9 million to 232.1 million. The volume of air travel agency bookings increased by 9.8%, up from 183 million to 201 million. 


Distribution revenue was up by 9.8%, rising from €944.9 million to €1.037 billion.


Amadeus president and chief executive David Jones said: “These results are underpinned by an encouraging growth in distribution bookings compared with the same period last year, coupled with the continuing evolution of our IT business.


“Our transaction-based model is both robust and profitable, and has shown that it can quickly benefit from a recovery in travel worldwide. We look forward to the remainder of the year with confidence.”


The company, which employs more than 9,300 people worldwide, reported revenues of €2,461 million and EBITDA of €894 million in 2009.


 



 

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