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Amadeus Reports Solid Growth for First Half 2012August 3, 2012 By: Newswire Travel Agent
Technology giant Amadeus has announced year-on-year financial and operating results for the first half of 2012 (six months ended June 30, 2012) including adjusted profit for the first half that increased 26.1 percent to €332.5 million. This was backed by growth in revenue of 8.6 percent to €1,508.9 million and a 6.1 percent rise in EBITDA to €606.9 million.
Amadeus also reported year-on-year growth from both its Distribution and IT Solutions businesses. Revenue in the Distribution business increased by 7.2 percent, rising to €1,157.4 million while the number of total bookings, including both air travel agency and non air bookings, improved by 4.2 percent, to 252.2 million.
Amadeus also said it expanded its global market share of travel agency air bookings by 1.0 percentage point to reach 38.3 percent. In the IT Solutions business, revenue increased by 13.6 percent, rising to €351.4 million. The Passengers Boarded (PB) figure increased 27.0 percent, rising to 259.0 million. Currently Amadeus projects over 750 million PB for 2014, based upon existing contracts.
The financial performance for the first half of the year was backed by strong year-on-year results from both quarters, Amadeus said. During the second quarter, Amadeus’ adjusted profit increased by 30.3 percent, to €164.6 million, total revenues were up by 8.8 percent to €744.7 million, and EBITDA rose by 6.8 percent to €299.7 million.
Luis Maroto, president & CEO of Amadeus, commented:“Despite the ongoing challenges of the global economic environment, this has been a successful first half of the year and we have continued our growth record."
“The global economic outlook remains uncertain, and air traffic and GDS volumes have shown weakness in recent months, driven by the economic environment. Nonetheless, we believe that our business model will continue to prove resilient and support good results for the second half of this year," Maroto said.
Growth in North America continued Amadeus said, with four key announcements including deals with Expedia, Inc., KAYAK, and Hipmunk - a low-fare search site. Atlas Travel also became the first customer to select the full Amadeus One suite, Amadeus said. Amadeus also noted its content agreement with STA Travel, which specializes in the student and youth sector and a new deal with Southwest Airlines.