Amadeus Reports Profits and Growth

graphAmadeus IT Holding, S.A., parent company of the Amadeus Group, has  reported year-on-year financial and operating results for the first half of 2013 (six months ended June 30, 2013). Amadeus also laid claim to 40 percent of the agency air booking market for the first time.

Adjusted profit for the first half increased 5.2 percent to reach €349.6 million. This was backed by growth in revenue of 5.7 percent to €1,595.1 million and a 6.3 percent rise in EBITDA to €645.9 million.

Consolidated net financial debt was reduced to €1,319.8 million as of June 30, 2013 (based on covenants’ definition in our senior credit agreement). This was a reduction of €175.4 million vs. December 31, 2012 and represented 1.15x the last twelve months’ covenant EBITDA.

Amadeus said consistent year-on-year growth continued in both the distribution and IT Solutions businesses. Revenue in distribution rose by 5.0 percent to €1,215.6 million, with the number of air travel agency bookings increasing by 5.8 percent to 233.1 million – backed by a 1.7 percentage points expansion of Amadeus’ market share of travel agency air bookings to reach 40.0 percent. Revenue from IT Solutions grew by 8.0 percent.

Strong year-on-year results from both the first and second quarters supported the overall financial performance for the first half, Amadeus said. In the second quarter, adjusted profit increased by 5.4 percent, to €173.4 million, total revenues rose 7.4 percent to €800.1 million, and EBITDA grew 7.4 percent to €322.5 million.

Luis Maroto, president and CEO of Amadeus, commented: “Today’s results underline our consistent success in anticipating and developing cost-effective technology that benefits our customers. Despite the sector’s considerable technological complexity and economic challenges, our innovation helps customers adapt and compete."

“Once again, Distribution increased market share, this time by 1.7 percentage points – reaching the 40 percent threshold – and bookings by 4.7 percent. Once again, IT Solutions grew Passengers Boarded, this time by 9.7 percent. Revenues rose 5.7 percent, EBITDA improved 6.3 percent. Most significantly, we continued our record of consecutive growth in adjusted profit: up 5.2 percent to €349.6 million," Maroto said.

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