Amadeus Announce Third Quarter 2003 Results

Amadeus Global Travel Distribution today reported its third quarter results for the period ended 30 September 2003.
- Market share gains, business diversification and cost control boost revenue by 7.1% and net income by 52%
- Company maintains target of 5% growth in net income for full year


Commenting on the results , José Antonio Tazón, President and CEO of Amadeus, said:

“Although the recovery of travel is still timid and inconsistent across regions, in the quarter Amadeus has processed 2.3% more travel reservations (95.4m) and raised its total revenue by 7.1% compared to the same period in 2002. Net income for the period rose 52.3% (excluding special items), enabling us to maintain our forecast of 5% net income growth to €155m for the full year.

In travel distribution, Amadeus continues to lead the GDS sector with a world market share in travel agency air bookings of 27.8%, reflecting a year-on-year increase of 1.3 percentage points . Strong reservations growth was achieved in Central and Eastern Europe (+29.1%), Africa and the Middle East (+42.6%) and Asia Pacific (+14.7%), with Amadeus clearly outpacing the market and raising its share. In Western Europe (+1.5%) and North America (+3%), Amadeus also returned to growth.

Non-reservations revenue derived from e-Travel, Airline IT Services and other business areas grew by 18.1%, underlining the continued success of our business diversification strategy to unlock new revenue opportunities.

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Total operating expenses rose by 6.5% thanks to careful, ongoing cost control. For the full year, we are maintaining ambitious targets in an uncertain environment.”


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