Amadeus sees increase in profits over first half

Amadeus sees increase in profits over first half

Amadeus IT Holding, parent company of the Amadeus Group has announced year-on-year financial and operating results for six months ended June 30th.

Adjusted profit for the first half increased 26.1 per cent to reach €332.5 million, due principally to the substantial reduction in interest expense.

This was backed by growth in revenue of 8.6 per cent to €1,508.9 million and a 6.1 per cent rise in EBITDA to €606.9 million.

This growth record is supported by significant year-on-year growth from both the Distribution and IT Solutions businesses.

Revenue in the Distribution business increased by 7.2 per cent, rising to €1,157 million while the number of total bookings, including both air travel agency and non air bookings, improved by 4.2 per cent, to 252 million.

Amadeus also expanded its global market share of travel agency air bookings by one percentage point to reach 38.3 per cent, thus further extending its leadership position.

In the IT Solutions business revenue increased by 13.6 per cent, rising to €351 million, and the Passengers Boarded (PB) figure was lifted by 27 per cent, rising to 259 million.

Amadeus president Luis Maroto said: “Despite the ongoing challenges of the global economic environment, this has been a successful first half of the year and we have continued our growth record.

“We continued our long-term corporate financing strategy of maintaining flexibility and adequate maturities, along with cost efficiencies from diverse funding sources. 

“At an operational level, our long-term commitment to developing innovative customer-focused solutions and consolidating our global presence, has again proven successful with two landmark contracts in North America: the Altéa contract with Southwest Airlines and the Expedia contract for content and technology in North America.

“These were followed by further noteworthy agreements such as those with KAYAK and Hipmunk, also in North America, plus significant agreements with both SNCF and Trenitalia,” he concluded.