Amadeus sees positive Q1 results

Amadeus sees positive Q1 results

Amadeus saw total bookings increase by 6.1% to 132.3 million in the first quarter of the year.

The company’s global market share of travel agency air bookings rose by 0.9 of a percentage point to maintain its leadership position at 38.2%.

Total travel agency bookings from low-cost carrier flights via the Amadeus system increased by 18% year on year.

Adjusted profit for the three months to March increased 22.1% to €167.9 million.

This was backed by revenue growth of 8.5% to €764.1 million and a 5.4% rise in Ebitda to €307.2 million.

Revenue in the distribution business increased by 8% to €597.6 million while the IT solutions business revenue increased by 10.4% to €166.6 million.

Consolidated net financial debt was €1.7 billion at March 31, down by €91.7 million compared to December 31, 2011.

President and chief executive Luis Maroto said:
 “Following on from our strong outcome in 2011, the results from the first quarter of this year continue to be very encouraging.

“Once again this pleasing performance was underpinned by growth across both our businesses.

“Distribution’s revenue increased 8%, backed by 0.9 p.p. expansion of global market share; whilst IT Solutions’ revenue increased 10.4%, driven by successful migrations to our platform and the strong performance of our different solutions.”

He added: “Such consistent growth in revenues as well as new clients is a direct result of our long-term commitment to developing innovative customer-focused solutions and consolidating our global presence.

“This strategy was again proven successful by two milestone contracts recently signed, the Altéa contract with Southwest Airlines and the Expedia contract for content and technology in North America.

“Although both deals were announced during the second quarter, they deserve special mention for their great significance in such a key market – and their long-term potential fills us with great enthusiasm. 

“Despite the uncertain economic environment, we look forward to the remainder of the year with confidence.” 

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