Amadeus sees jump in profits

Amadeus sees jump in profits

Amadeus IT Holding, parent company of the Amadeus Group, has reported year-on-year financial and operating results for the first nine months of 2013.

To September 30th adjusted profit grew 6.3 per cent to €511 million.

This was supported by an increase in revenue of 5.8 per cent to €2.4 billion and a 6.5 per cent growth in EBITDA to €949 million.

Consolidated net financial debt was reduced to €1.9 billion, as of September 30th, 2013.

This was a decrease of €208 million when compared to December 31st, 2012 and reduced to 1.10x the ratio of debt to the last twelve months’ covenant EBITDA.

The track record for year-on-year improvements continued across both Distribution and IT Solutions.

Revenue in Distribution increased 5.5 per cent, to €1.8 billion, with air travel agency bookings rising 6.6 per cent, to €341 million.

This was backed by a 1.8 percentage points expansion of Amadeus’ market share of travel agency air bookings, to become 39.9 per cent.

Revenue from IT Solutions rose 6.6 per cent, to €578 million, where Passengers Boarded strengthened 8.4 per cent to total €455 million.

Amadeus president Luis Maroto commented: “Amadeus has maintained its track record of delivering growth in revenues and profitability. 

“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 research commitments necessary to continue delivering first class solutions to our customers.”