Amadeus Q3 results point to positive 2013

Profit at Amadeus for the first nine months of the year grew by 6.3% to €511.2 million as it increased its share of airline bookings through the trade.

Profit at Amadeus for the first nine months of the year grew by 6.3% to €511.2 million as it increased its share of airline bookings through the trade.

This was on the back of revenue rising by 5.8% to €2.3 billion and a 6.5% growth in EBITDA to €948.9 million.

The company’s global share of travel agency air bookings expanded 1.8 percentage points to 39.9% and passengers boarded increased by 8.4% to 455.5 million.

Debt was reduced by €207.7 million to €1.28 billion, as of September 30.

Revenue in distribution increased 5.5%, to €1.7 billion, with air travel agency bookings rising 6.6%, to 340.8 million.

Revenue from IT solutions rose 6.6% to €578.4 million.

The year-to-date results were supported by significant year-on-year performance during the third quarter, Amadeus said.

Quarterly revenue increased by 5.9% to €766.9 million, EBITDA grew 7.0% to €303 million and adjusted profit rose 8.6% to €161.6 million.

President and chief executive Luis Maroto said: “The two key drivers behind our continued growth are our resilient transaction-based model and our long-term contracts with recurring revenues. These factors allow us to make the R&D commitments necessary to continue delivering first class solutions to our customers.

“Distribution continues to benefit from pockets of growth, supporting our market share expansion, with gains in North America through a large online travel agency deal in addition to our increased activity in the low-cost carrier segment.

“In IT solutions we continue to have opportunities to drive new business both through the addition of new customers and the expansion of our existing portfolio.

“I am confident that with our wide geographical reach and our exposure to a number of different segments in the travel technology industry we have a good platform for continued success.

“Already we are looking forward to continuing our strategy in 2014.”