Growth maintained in both Distribution and IT Solutions businesses
Amadeus IT Holding, S.A., parent company of the Amadeus Group, a leading technology partner for the global travel industry, recently announced year-on-year financial and operating results for the first six months of 2013.
Adjusted profit for the first half increased 5.2 percent to reach 349.6 million euros. This was backed by growth in revenue of 5.7 percent to 1,595.1 million euros and a 6.3 percent rise in EBITDA to 645.9 million euros.
Consolidated net financial debt was further reduced to 1,319.8 million euros as of 30 June 2013 (based on covenants’ definition in the company’s senior credit agreement). This was a reduction of 175.4 million euros vs. 31 December 2012 and represented 1.15x the last twelve months’ covenant EBITDA.
Distribution and IT Solutions businesses: Consistent year-on-year growth
“Once again, Distribution increased market share, this time by 1.7 percentage points – reaching the 40 percent threshold – and bookings by 4.7 percent and IT Solutions grew Passengers Boarded, this time by 9.7 percent (totaling 284.1 million),” Luis Maroto, President & CEO of Amadeus, said.
Based upon existing contracts, Amadeus projects over 800 million Passengers Boarded for 2015, which would be an improvement of 42 percent vs. the number processed on the platform during 2012.
“Continued investment in product evolution and portfolio expansion was key to our growth record, attracting customers such as Munich and Copenhagen airports recently. Innovative bespoke offerings also drove retention, such as the new American Airlines deal,” Mr. Maroto said.
In regards to Airline IT, Amadeus said the company was expanding its portfolio both to upsell and attract additional customers with solutions such as Revenue Accounting, Revenue Management and Loyalty.