Amadeus reveals soaring profits in 2012 results

Amadeus reveals soaring profits in 2012 results

Amadeus saw 2012 adjusted profits soar by 18% to €575.1 million on the back of a 7.5% rise in revenue to €2.9 billion.

This enabled the technology giant to cut debt by €356.6 million to €1.495 billion by the end of the year.

Revenue in the Amadeus distribution business rose by 5.8% to €2.201 billion as the number of air travel agency bookings went up by 3.5% to 416.5 million.

Amadeus also expanded its global market share of travel agency air bookings by 0.9% to reach 38.6%.

IT solutions revenue increased by 13% to €709.4 million, and the passengers boarded (PB) figure increased by 28.4% to 563.8 million.

“Based upon existing contracts, Amadeus projects over 800 million PB for 2015, which implies an increase of 42% in the number of PB processed through our platform vs. 2012,” the company said.

President and chief executive Luis Maroto said: “Despite another year of global macro-economic challenges, Amadeus’s proven business model and geographically diverse base again allowed us to maintain our growth record and increase our year-on-year revenues by 7.5% to €2,910.3 million, and adjusted profit by 18.0% to €575.1 million.

“This continued success was supported by an improved performance in both our businesses: distribution, with higher bookings and revenue, and IT solutions, which raised Passengers Boarded as it continued to migrate existing customers to the Altéa platform.

“2012 has been an outstanding year all round, with a strong financial performance, as well as landmark customer wins such as the Southwest and Expedia contracts in North America.”

He added: “In 2013 we are focusing on further consolidating our leading position by evolving our competitive offering, whilst also selectively investing in growth areas such as IT solutions for airports, hotels and rail providers.

“We are cautiously optimistic about 2013 and expect revenue and contribution to continue to grow across both businesses, based upon our experience and taking into account the resiliency of our business model.”

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