Amadeus maintains strong financial performance
Organic growth in both Distribution and IT Solutions businesses supported by the contribution of last year’s acquisitions, including Navitaire.
- Revenue increased 14.2%, to €3,386.5 million
- EBITDA grew 16.4%, to €1,332.1 million
- In the Distribution business, total air travel agency bookings rose 5.2%, to 409.8 million
- In the IT Solutions business, Passengers Boarded increased 82.9%, to 1,028.5 million. Excluding Navitaire, Altéa passengers boarded grew 12.1%.
Amadeus IT Group, S.A., a leading technology partner for the global travel industry, reported an adjusted profit of €738.1 million in the nine months to September 30, 2016. That represented a growth of 21.3% compared to the same period of 2015. This was driven by a revenue increase of 14.2%, to €3,386.5 million, and EBITDA growth of 16.4%, to €1,332.1 million. Free cash-flow generation grew by 18.2% in the first three quarters of the year, with the debt ratio at 1.21x EBITDA.
Luis Maroto, President & CEO of Amadeus, commented:
“Our strong financial performance is the result of organic growth in our core businesses and the contribution of last year’s acquisitions including Navitaire.
“Our Distribution business continues to grow faster than the industry and its competitive position once again increased to 43.1%. We have successfully renewed or signed content agreements with 17 airlines in the quarter, including easyJet. In addition, the world’s leading travel search engine, KAYAK, has implemented Amadeus Master Pricer with Instant Search technology.
“The Airline IT business has also experienced strong growth in the first nine months of 2016, supported by upselling and cross-selling, as well as organic growth. The total number of passengers boarded using Amadeus’ Passenger Service Systems (Altéa or Navitaire New Skies) increased by 82.9%, to 1,028.5 million. Compared to the same period last year, excluding Navitaire, Altéa passengers boarded grew 12.1%.
“In the third quarter, Malaysia Airlines announced that it had selected the full Amadeus Altéa Passenger Service System, Amadeus Anytime Merchandising as well as our e-commerce solutions. In addition, EVA Air moved to Amadeus Altéa Revenue Management Suite, while Virgin Australia announced that it had become part of the Altéa DC Flight Management family.
“We continue to make progress in our new businesses. We completed the successful implementation of Amadeus Airport Sequence Manager and A-CDM Portal solutions in Copenhagen Airports. We are also advancing in the execution of our Hospitality IT strategy, by integrating Itesso and Hotel SystemsPro and by working with InterContinental Hotels Group in the development of a new-generation Guest Reservation System for the hospitality industry.
“We are confident that Amadeus will deliver another strong final quarter to 2016.”