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Amadeus Reports Profit Growth in 2010February 25, 2011 By: George Dooley
Amadeus reported its year-over-year financial and operating results for 2010 (12 months ended December 31, 2010), including profits for the year that increased 24.3 percent to €427.4 million. This was backed by a growth in revenue of 10.6 percent to €2,683.3m and an improvement in EBITDA of 14.2 percent to €1,014.9m.
The total billable travel transactions processed increased by 25.6 percent to reach 849.9m in 2010 rising from 676.6m. In 2011 Amadeus will pay a total dividend of €134.3 million, which represents a pay-out of 35 percent.
Both the Distribution and IT Solutions businesses contributed to the company’s positive performance during the full year, Amadeus said. Revenue in the Distribution area increased by 8.5 percent, rising from €1,836.3m to €1,992.2m.
Total bookings increased by 6.9 percent, up from 413.2m to 441.6m. Amadeus also said it maintained its leadership position with 36.7 percent of the global market share of travel agency air bookings during 2010.
The IT Solutions business continued its growth record by increasing revenue 17.7 percent during the year, from €511.1m to €601.4m. Passengers Boarded (PB) increased by 56.8 percent in the same period, rising from 237.5m to 372.3m as the total number of airlines migrated to Amadeus Altéa reached 94.
As of December 31 2010, the total number of airlines contracted to Altéa was 109, up from 90 in December 2009.
Luis Maroto, President & CEO of Amadeus said: “We delivered strong growth during 2010 and further strengthened our financial position by substantially reducing our financial debt. Our year-on-year total revenue grew by 10.6 percent to€2,683.3m, along with an increase in our total EBITDA of 14.2 percent to €1,014.9m. Our adjusted profit for the year grew by 24.3 percent to total €427.4m.
"Our transaction-based model has again proven adaptable and profitable, allowing us to benefit from the significant improvement in the global travel industry during 2010. During 2011, we aim to reinforce our leading position worldwide, both in our Distribution and IT Solutions businesses. We look forward to 2011 with confidence."