Amadeus capitalises on travel rebound to post strong profits

Amadeus capitalises on travel rebound to post strong profits

Amadeus IT Holding has repowered adjusted profit grew 10.3 per cent, to €419.6 million, in the first half of financial 2015.

This was driven by an increase in revenue of 14.2 per cent, to €1,977 million, and EBITDA growth of 10.8 per cent, to €779 million.

Luis Maroto, president of Amadeus, commented: “Amadeus has maintained its track record for growth in both revenues and profitability through a combination of market share expansion and growth in its businesses.

“Distribution delivered strong revenue growth of 11.3 per cent through a 1.9 per cent increase in global market share of air travel agency bookings.

“IT Solutions continued its track record for double-digit growth with a revenue increase of 22.3 per cent, with Asia-Pacific remaining the driving force.

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“Our solid business model and our strong cash-flow generation have allowed us to make strategic acquisitions.

“Early in July we announced an agreement to acquire Navitaire, subject to approval by regulators, that once completed will give Amadeus a strong position in IT solutions for the low-cost carriers market.

“Following that, we also announced plans to acquire Netherlands-based Itesso BV, a provider of cloud-native property management systems for hotels.”

Consolidated net financial debt at Amadeus stood at €1,645 million at June 30th, 2015, representing 1.19x the ratio of covenant net debt to the last twelve months’ covenant EBITDA.

An appreciation of the US dollar versus the Euro relative to 2014 contributed a positive foreign exchange impact on the revenue and EBITDA of Amadeus during the first half of 2015; conversely, the same impact reduced the EBITDA margin.