“Amadeus has exceeded expectations for the first quarter 2004. Strong figures across the board reflect the recovery in travel, especially in North America and Asia Pacific, two of the regions most affected by crises in 2003. Comparable global reservations for this quarter grew by 9 percent to 112.5 million, excluding German leisure bookings.
Revenue was up by 7 per cent to EUR 538 million. This, together with a limited operating expenses growth of 1 percent, permitted us to reach a net income figure, including special items, of EUR 71.3 million, almost 40 per cent up on first quarter 2003.
This first quarter reflects the effects of our cost control strategy and shows once again how Amadeus’ unequalled global spread of business allows us to benefit from regional growth patterns.
Given this excellent start of the year we are raising our forecast for net income 2004 to EUR 185-195 million and now expect bookings to grow by 6 to 7 per cent, with a revenue increase of 4 to 7 per cent, compared with 2003.”