Amadeus saw adjusted profit rise by almost a quarter to reach €427.4 million last year over 2009 on the back of global travel industry recovery from recession.
Amadeus profits from recovering global economic outlook
Amadeus saw adjusted profit rise by almost a quarter to reach €427.4 million last year over 2009 on the back of global travel industry recovery from recession.
The improvement in profit came on revenue growth of 10.6% to €2,683.3 million and EBITDA (profits after items such as tax and depreciation) up by 14.2% to €1,014.9 million.
Total travel transactions increased by 25.6% in the year to reach 849.9 million, rising from 676.6 million in 2009. Amadeus claimed that it maintained its leadership position with 36.7% of the global market share of travel agency air bookings in 2010.
The company saw an improvement in fourth quarter revenue of 6% from €593.8 million to €629.7 million and an increase in adjusted net profit of 2.1%, up from €71.3 million to €72.8 million.
President and chief executive Luis Maroto said: “We delivered strong growth during 2010 and further strengthened our financial position by substantially reducing our financial debt.
“Our transaction-based model has again proven adaptable and profitable, allowing us to benefit from the significant improvement in the global travel industry during 2010.
“During 2011, we aim to reinforce our leading position worldwide, both in our distribution and IT solutions businesses. We look forward to 2011 with confidence.”
Both the distribution and IT solutions businesses contributed to the company’s performance. Revenue in the distribution arm increased by 8.5%, rising from €1,836.3 million to €1,992.2 million. Total bookings increased by 6.9%, up from 413.2 million to 441.6 million.
The IT solutions business continued its growth by increasing revenue 17.7% during the year, from €511.1 million to €601.4 million.
