Amadeus IT Holding, S.A., parent company of the Amadeus Group, reported year-on-year financial and operating results for the first nine months of 2013 ended September 30, 2013. The global share of travel agency air bookings expanded 1.8 percentage points to 39.9 percent, Amadeus said.
Adjusted profit for the first nine months grew 6.3 percent to €511.2 million. This was supported by an increase in revenue of 5.8 percent to €2,362.0 million and a 6.5 percent growth in EBITDA to €948.9 million, Amadeus said.
Consolidated net financial debt was reduced to €1,287.5 million, as of September 30,2013 This was a decrease of €207.7 million vs. December 31, 2012 and reduced to 1.10x the ratio of debt to the last twelve months’ covenant EBITDA.
The track record for year-on-year improvements continued across both Distribution and IT Solutions, Amadeus said. Revenue in Distribution increased 5.5 percent, to €1,783.6 million, with air travel agency bookings rising 6.6 percent, to €340.8 million. This was backed by a 1.8 percentage point expansion of Amadeus’ market share of travel agency air bookings, to 39.9 percent. Revenue from IT Solutions rose 6.6 percent, to €578.4 million, where Passengers Boarded strengthened 8.4 percent to total 455.5 million.
The year-to-date results were supported by significant year-on-year performance during the third quarter. Revenue increased 5.9 percent to €766.9 million, EBITDA grew 7.0 percent to €303.0 million and Adjusted profit rose 8.6 percent, to €161.6 million.
“Amadeus has maintained its track record of delivering growth in revenues and profitability. Our performance during the third quarter has further supported our year-to-date progress: our adjusted profit has risen 6.3% to €511.2 million year-on-year, supported by revenue and EBITDA increases of 5.8% and 6.5%, respectively," Luis Maroto, president and CEO of Amadeus, commented.
“The two key drivers behind our continued growth are our resilient transaction-based model and our long-term contracts with recurring revenues. These factors allow us to make the R&D commitments necessary to continue delivering first class solutions to our customers," Maroto said.
“Distribution continues to benefit from pockets of growth, supporting our market share expansion, with gains in North America through a large online travel agency deal in addition to our increased activity in the low-cost carrier segment. In IT Solutions we continue to have opportunities to drive new business both through the addition of new customers and the expansion of our existing portfolio," Maroto said.