Amadeus sees profits increase in first quarter

Amadeus sees profits increase in first quarter

Amadeus IT Holding has reported adjusted profit growth of 8.6 per cent for the three months to March 31st, with the technology giant seeing €191.3 million of profits for the period.

Comparable growth, excluding the impact from recent acquisitions, was 7.7 per cent.

This was backed by an increase in revenue of 9.1 per cent, to €867.6 million, and 8.7 per cent growth in EBITDA, to €351.4 million.

Amadeus president Luis Maroto commented: “Amadeus has maintained its record of delivering strong organic growth in its core businesses, Distribution and Airline IT Solutions.

“The joint contract with Southwest Airlines to implement the Amadeus’ Altea reservations solution as the carrier’s only reservation system is a truly landmark IT partnership for Amadeus.

“Southwest will become our largest airline IT partner worldwide by passengers boarded.

“This organic growth is now also reinforced by the positive contribution of our recent acquisitions.

“Our commitment to our stated ambition in Hotel IT, to build a community model for the hotel industry, has been evidenced by the Newmarket International acquisition and the recently signed partnership with InterContinental Hotels Group to develop technology solutions to enhance the guest experience.”

Consolidated net financial debt stood at €1,534.3 million, as of March 31st, 2014 (based on covenants’ definition in senior credit agreement), representing 1.22x the ratio of covenant net debt to the last twelve months’ covenant EBITDA.

During the period Amadeus paid an interim dividend of €133.4 million in respect of the 2013 profit.