Amadeus Reports Q1 Results

Travel News Asia Latest Travel News Podcasts Videos Monday, 17 May 2010

Amadeus has reported year-on-year financial results for the first quarter (three months ending 31st March 2010) that show an increase in adjusted net income of 58.1% to reach 128.9m, backed by a growth in revenues of 13.4% to 705.3m and an improvement in adjusted EBITDA by 26.1% to 280.3m.

 This continues Amadeus trend for steady growth, following an increase in adjusted EBITDA every year between 2004 and 2009.

Year-on-year the adjusted EBITDA margin grew from 35.7% to 39.7% and the adjusted EPS increased by 58.2% to 0.361 per share. Net financial debt was down by 120.3 million at 31st March 2010.

This steady growth is underpinned by double digit increases in both the Distribution and IT solutions businesses. Revenues within the Distribution area increased by 12.4% whilst the volume of air travel agency (TA) bookings increased by 9.6% in the first quarter of 2010, primarily driven by the performance of emerging markets (Middle East and Africa, CESE and Asia Pacific).

 The IT Solutions business grew its revenues by 17.9% during the period, continuing its track record of solid growth as contracted migrations took place.

President & CEO of Amadeus, David Jones, said, Our year-on-year growth of total revenues by 13.4%, increased adjusted EBITDA of 26.1% and substantial growth of net income by 58.1% to reach 128.9m is further proof of the strength and profitability of Amadeus transaction-based business model. We are encouraged by the recent industry-wide increase in global air traffic and travel bookings and this is a strong indicator of our growth potential as the global travel industry continues to recover.

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