Acquisitions and organic growth push Amadeus profits
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Amadeus has reported EBITDA growth of 8.8% for the first half of the year, following various acquisitions and ‘organic growth’.
The Madrid-based company posted EBITDA of EUR702.6m (US$943m, GBP560m) for the six-month period while its adjusted profit grew 8.9% to EUR380.6m and revenue improved 8.5% to EUR1.73bn.
Its total travel agency bookings went up 3.8% to 241.8 million, while the number of passengers boarded through its IT systems was up 15.6% to 328.5m.
Amadeus has signed up more airlines to its Altea suite in at the start of the year including Japan Airlines, SWISS and Southwest Airlines, while its acquisitions in i:FAO, Newmarket International and UFIS have made progress in the corporate travel, hotel and airport IT sectors. A new agreement with BeNe Rail will also provide a boost to its rail segment.
“Amadeus’ core business continues to deliver strong results despite improved but still challenging market conditions. We continue to implement our growth and diversification strategy into new IT areas. The distribution business outperformed the industry enabling us to continue to gain market share,” said Luis Maroto, president and CEO of Amadeus.
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