The distribution and IT solutions arms of Amadeus have helped push profits up in the first nine months of the year
Amadeus Q3: Distribution and IT drive 30% profit boost
The distribution and IT solutions arms of Amadeus have helped push profits up in the first nine months of the year.
EBITDA grew by almost 17% to €816.6 million over the same period last year to give an adjusted net profit up by 30% to €354.6 million.
This was based on revenue rising by 12.1% to €2,053.6 million.
Year-to-date revenue in the distribution area increased by 10.2%, rising from €1,387.6 million to €1,528.9 million.
The total number of bookings increased by 7.7%, up from 314.2 million to 338.6 million.
Amadeus claims this meant that it maintained a global leadership position in market share of travel agency air bookings during the first nine months of 2010.
The IT Solutions business continued its growth record by increasing revenue 19.3% during the period, from €383.2 million to €457.1 million.
Passengers boarded rose by 58% from 171.3 million to 270.6 million.
Results for the company’s third quarter to September 30 saw an increase in adjusted net profit of 14.9%, up from €93.7 million to €107.7 million. Total revenue rose by 12.6% from €598.6 million to €674.3 million to give a rise in quarterly EBITDA of 10.8% from €234.6 million to €259.9 million.
President and CEO David Jones said: “We have delivered strong financial growth during the first nine months of 2010.
“Once again our transaction-based model demonstrates its strength and flexibility, allowing us quickly to deliver financial returns from the current recovery in the global travel industry.”
