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Amadeus today announced its financial results for the first nine months of the year. The positive performance of Amadeus’ Distribution and IT Solutions businesses supported our financial performance in the first nine months of the year.
We achieved an adjusted profit of €886.6 million in the first nine months of 2018, which represents growth of 5.1%1 compared to the same period last year. Revenue grew 4.6%1 to €3,683.8 million, while EBITDA increased 8.6%1 to €1,588.0 million. As in the first half of the year, in the third quarter, both our revenue and EBITDA continued to be negatively impacted by the USD/Euro exchange rate fluctuation, albeit to a lesser extent than in the first two quarters of the year. Excluding these currency effects, revenue expanded by 7.7%1.
Luis Maroto, President & CEO of Amadeus, explained: “The strength and resilience of our core businesses has contributed, once again, to Amadeus’ good financial performance. In Distribution, we signed or renewed distribution agreements with 11 carriers, including Aerolíneas Argentinas, Norwegian and Porter Airlines, amounting to a total of 35 for the first nine months of the year”.
We also announced that we renewed and expanded our partnership with Carlson Wagonlit Travel (CWT). CWT will now have access to extensive travel content on the Amadeus Travel Platform and the latest technology including Amadeus Selling Platform Connect.
CWT was also among the travel sellers that joined Amadeus’ NDC-X program in August, along with American Express Global Business Travel, BCD Travel and American Airlines. They joined other announced partners including Flight Centre and Travix. This program brings together all of Amadeus’ NDC activities – as an IT provider and an aggregator – under one roof, so that all relevant travel content from any source (EDIFACT, NDC, proprietary APIs and other aggregated content) can be distributed via any user interface or device.
On our Airline IT business, passengers boarded increased 13.8% to 1,397.3 million in the first nine months of the year. We increased our customer base and, at the close of September, 206 airlines had contracted either of the Amadeus Passenger Service Systems (Altéa or New Skies). Among them was Bangkok Airways signing up for the full Altéa Suite.
We also made important progress in our upselling strategies, with Southwest Airlines signing up for the full Amadeus Sky Suite by Optym. We also expanded our partnership with Finnair, who contracted both Amadeus Network Revenue Management and Passenger Recovery.
In Hospitality, the roll-out of the Guest Reservation System (GRS) with InterContinental Hotels Group is almost complete, with over 95% hotels already migrated. This implementation, along with the acquisition of TravelClick as we announced in August, will be a significant driver of growth for our hospitality business in the near future.
“We remain optimistic and are confident that we will continue this positive growth trend for the rest of the year”, added Luis Maroto.
To learn more about today’s results please take a look at our Q3 2018 financial results infographic, read the press release, or visit the Investor Relations website, where you will find all the documents filed with the stock exchange authorities this morning.
1 Compared to Jan-Sep 2017 figures restated for IFRS 15 and IFRS 9, applied from January 1, 2018.