Amadeus IT Holding, S.A., parent company of the Amadeus Group, a leading transaction processor and provider of advanced technology solutions for the global travel and tourism industry, has announced year-on-year financial and operating results for the year-to-date (nine months ended 30 September 2010).
Adjusted net profit for the period increased 30.1% to reach €354.6m. This was backed by a growth in revenue of 12.1% to 2,053.6m euros and an improvement in EBITDA of 16.9% to 816.6m. euros.
Consolidated net financial debt on 30 September 2010 was 2,700.3m euros (based on covenants’ definition). This represented 2.7x last twelve months’ EBITDA, and was down by 588.2m euros vs. December 2009.
Both the Distribution and IT Solutions businesses have played a role in the company’s positive performance figures during the year-to-date. Revenue in the Distribution area increased by 10.2%, rising from 1,387.6m euros to 1,528.9m. eyros. Total bookings increased by 7.7%, up from 314.2m to 338.6m. Amadeus also maintained its global leadership position in market share of travel agency air bookings during the first nine months of 2010.
The IT Solutions business continued its growth record by increasing revenue 19.3% during the period, from 383.2m euros to 457.1m. euros. Passengers Boarded (PBs) increased by 58.0% in the same period, rising from 171.3m to 270.6m as contracted airline migrations were completed successfully.
During the third quarter of 2010 compared with the same period in 2009, Amadeus’ results saw an increase in adjusted net profit of 14.9%, up from 93.7m euros to 107.7m euros, an improvement in total revenue of 12.6% from 598.6m euros to 674.3m euros, and a rise in EBITDA of 10.8% from 234.6m euros to 259.9m. euros.
David V. Jones, President & CEO of Amadeus, said: “We have delivered strong financial growth during the first nine months of 2010. Our year-on-year total revenue has grown by 12.1% to 2,053.6m euros, along with an increase in EBITDA of 16.9% to 816.6m euros, and our adjusted net profit has grown by 30.1% to total 354.6m. euros. These figures are supported by a 7.7% increase in total Distribution bookings when compared with the same period last year, and also backed by the rapid expansion of our IT Solutions business, where Passengers Boarded increased by 58.0%. Once again our transaction-based model demonstrates its strength and flexibility, allowing us quickly to deliver financial returns from the current recovery in the global travel industry.”