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Amadeus publishes financial results for the three quarters of 2013

Ben Hunt

Group Communications Director, Amadeus IT Group

Amadeus this morning released its financial results for the first nine months of 2013 (to September 30, 2013) and showed that the continued strong performance of both our business lines underpinned continued revenue and profit growth.

Amadeus building

 

On a year-on-year basis, compared to same period in 2012 our financial metrics show:

  • Revenue increased 5.8% to €2,362 million
  • EBITDA grew 6.5%  [1] 

    to €948.9 million

  •  

  • Adjusted profit  [2] 

    raised 6.3% to €511.2 million

  •  

  • In Distribution, our global market share of travel agency air bookings expanded by 1.8 percentage points in the nine months to September 30, while the number of total bookings improved by 5.4%. Our growth outperformed the 2.6% GDS industry expansion, driving our revenue up by 5.5%.
  • In IT Solutions we continue to benefit from healthy organic growth and airline migrations: Passengers Boarded (PB) in Airline IT increased by 8.4% in the first nine months of the year driving our revenue up by 6.6%. Our e-commerce and standalone IT solutions also experienced healthy revenue growth.

Cash generation remains strong and we continue with our de-leveraging strategy, reaching a 1.10x ratio of net financial debt/EBITA.

Our President & CEO, Luis Maroto, commented:

Amadeus has maintained its track record of delivering growth in revenues and profitability. In the year-to-date 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. Our performance during the third quarter has also shown continued growth in revenues and profits.

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.

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.

I am confident that with our wide geographical reach and our exposure to a number of different segments in the travel technology industry we have a good platform for continued success.

Already we are looking forward to continuing our strategy in 2014.

 

For additional information, please review our press release and other documents published today via theInvestor Relations website – which also complementary background information and facts of interest to the investor community.

Please do not hesitate toemail our Investor Relations team  for any further assistance you might require. We’d be pleased to hear from you.

[1]

Adjusted to exclude extraordinary items related to the IPO, in 2012

. [2]

Excluding after-tax impact of the following items: (i) amortisation of PPA and impairment losses, (ii) changes in fair value and cancellation costs of financial instruments and non-operating exchange gains (losses) and (iii) extraordinary items related to the sale of assets and equity investments and, in 2012, the IPO

.


Tags

Financial Results, Investor Relations