Profits and revenue up at Amadeus despite ‘economic challenges’

Profits and revenue up at Amadeus despite ‘economic challenges’

Adjusted first-half profits at Amadeus have risen by 5.2% to €349.6 million.

This came as revenue grew by 5.7% to €1.6 billion and EBITDA rose by 6.3% to €645.9 million.

Net financial debt was further reduced by €175.4 million to €1.32 billion.

Distribution revenue was up by 5% to €1.2 billion, with the number of air travel agency bookings increasing by 5.8%, to 233.1 million – backed by a 1.7% expansion of Amadeus’ market share of travel agency air bookings to reach 40%.

Revenue from IT Solutions grew by 8%, to €379.5 million, supported by further migrations resulting in 9.7% more passengers boarded to 284.1 million.

Amadeus projects more than 800 million passengers boarded for 2015, representing a 42% increase over 2012.

Strong year-on-year results from both the first and second quarters supported the overall financial performance for the first half.

Adjusted second quarter profit increased by 5.4%, to €173.4 million, total revenues rose 7.4% to €800.1 million, and EBITDA grew 7.4% to €322.5 million.

President and chief executive Luis Maroto said: “Today’s results underline our consistent success in anticipating and developing cost-effective technology that benefits our customers.

“Despite the sector’s considerable technological complexity and economic challenges, our innovation helps customers adapt and compete.”

The company remains committed to research and development to drive growth, he said.

“Distribution, where we are pioneering merchandising and next-generation search, still represents real opportunity,” added Maroto.

“For instance in airline IT, where we are expanding our portfolio both to upsell and attract additional customers with solutions such as revenue accounting, revenue management and loyalty.

“In addition, several other areas also present exciting potential, not least recent examples of IT solutions for airport operations, rail and hotels.”

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