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Amadeus Reports First Quarter ProfitMay 9, 2011 By: George Dooley Travel Agent
Amadeus has announced year-on-year financial and operating results for the first quarter of 2011 including an adjusted profit for the quarter that increased 11.7 percent to €144.0 million (approximately $207 million). This was backed by a growth in revenue from continuing operations of 2.8 percent to €704.3 million (approximately $1 billion) and an improvement in EBITDA of 6.8 percent to €291.4 million ($419.6 million)
Excluding the impact of the sales of equity stakes in Vacation.com and Hospitality Group in 2010 and the impact of a change in treatment of certain bookings within IT Solutions, revenue grew by 4.8 percent, Amadeus said.
“We have made a good start to the year with both of Amadeus' business lines continuing to show healthy growth during the quarter,” said Luis Maroto, president and CEO of Amadeus. “In distribution, our global market share of air bookings through travel agents rose by 0.8 percentage points year on year to a record 37.4 percent, further widening our leadership position worldwide. In Airline IT we processed 94 million 'Passengers Boarded' during the quarter, 38.8 percent more than a year ago, with 97 airlines now using the Amadeus Altéa Suite of solutions to drive their mission-critical business processes.”