We’re creating a more connected travel industry, underpinned by sustainability and long-term investor relations.
Earlier today Amadeus announced strong financial results for the first quarter of 2015, maintaining a consistent track record for quarterly growth in both revenue and profitability.
The results were largely driven by further market share growth from new customers in Asia-Pacific and North America – a direct result of our long-term commitment to developing innovative and revenue generating solutions for our customers. Support also came from additional growth from existing customers and the success of recent consolidated acquisitions.
In our mature but steadily growing Distribution business, Amadeus outperformed the industry by increasing global air travel agency bookings 11.4% against an industry increase of just 5.0% - a significant amount of which came from new customers in the US and South Korea. This resulted in an expanded market share of 2.4 percentage points (reaching an impressive 42.3%).
Passengers Boarded (PBs) increased 8.4% in our fast growing IT Solutions business, driven largely by new customer growth in Asia-Pacific, which continues to expand as a proportion of our total PBs.
The New Businesses area – which comprises hotels, airports, rail, travel intelligence and payments – is already fulfilling its promise for outstanding long-term potential. Recent acquisitions continued to contribute positively and customer expansion continued apace, with examples including contributing to improvements in runway efficiencies at Munich Airport and adding Elavon to the Amadeus Payments Platform (APP) .
Moreover, two announcements last week underlined our ambitions for New Businesses. Firstly we acquired Florida-based AirIT , establishing ourselves in the largest airport IT market globally, North America; and secondly InterContinental Hotels Group announced partnering with Amadeus to develop a next-generation Guest Reservation System (GRS), using a new cloud-based ‘Community Model’ that is hotel sector first.
These impressive operating results, combined with the positive foreign exchange effect of an appreciation in the US dollar, produced increased revenue of 14.0% to €989.4 million and EBITDA growth of 10.9% to €389.6 million. Adjusted profit grew by 9.7%, to reach €209.9 million.
Commenting on these results, our President & CEO Luis Maroto told journalists:
"We remain confident that our portfolio of innovative travel solutions and strong customer relationships will allow steady growth across our business throughout the remainder of 2015."
Strong financial and operating performance is matched by equally strong financial health. We have a low level of financial debt, representing approximately 1.25x the ratio of EBITDA (as of 31 March). We also remain committed to shareholder remuneration: €240.5 million was invested (as of 31 March) in share repurchases through our share buy-back programme, announced in December; and earlier this year Amadeus paid interim dividends totaling €141.3 million, in respect of the 2014 profit.
If you would like to learn more, detailed information can be found on our Investor Relations website , including the press release and other documents published today, plus a wide range of key financial facts and figures. You can even download the Amadeus Investor App to view our share graph and more on your smart phone.
In the coming weeks we will publish the 2014 Global Report on our website, ahead of the Shareholder General Meeting (SGM) in June. Our next financial calendar announcement will be the second quarter financial results. They will be announced sometime in late July and shortly we will confirm the date via our Investor Relations website.