Amadeus reports a 17.2% increase in revenue for the nine months ending 30 September, compared with the same period a year ago.
Commenting on the results José Antonio Tazón, President and CEO of Amadeus, said: “The travel industry continues to suffer from the consequences of the terrorist action of 11 September in the United States. Our third quarter results show that Amadeus has not been immune from these events. Global activity is less impacted than North American traffic and recent booking statistics show a slow but steady recovery, which is more pronounced in Asia Pacific and Latin America. Amadeus is benefiting from this trend through its geographical spread in 200 markets.
“Before 11 September 2001, Amadeus was on track to deliver results in line with expectations. The reality is lower revenue growth and a bookings decrease compared with the third quarter of 2000. Non-booking revenue grew by 57.7 per cent in the third quarter of 2001. This revenue now accounts for 21.6 per cent of total Amadeus revenues, a positive reflection of our product diversification strategy as, in the third quarter of 2000, non-booking revenue was much lower at 14.8 per cent of total revenue.
“For the nine months to 30 September 2001 our revenue was EUR 1,375m, an increase of 17.2 per cent over the equivalent period in 2000. Bookings for the same period were up 0.8 per cent over the previous year.
“Elsewhere, Amadeus has continued to make progress in building a clear leadership position in travel distribution and technology. Our acquisition of e-Travel, for example, makes us the undisputed leader in offering a full range of corporate travel management solutions, for corporations of all sizes and, again, opening new revenue streams for the company.
“The current market uncertainty makes it difficult to forecast results for the fourth quarter of 2001. If our global bookings were to be some 15 to 5 per cent below 2000 levels, revenues would be in the range of EUR 365m to EUR 400m. Although the revenue side of our business remains subject to more volatility than usual, we have taken action to conserve cash and manage costs. This will ensure that when the recovery comes, Amadeus emerges in a strong position to take advantage of the many growth opportunities that will return.”
For the detailed results click on www.amadeus.com