Amadeus reports 26.1% increase in H1 2012 profit
06/08/2012 by WiT


Amadeus
’ adjusted profit for the first half of 2012, ended June 30, rose 26.1% to  €332.5 million, due principally to the substantial reduction in interest expense.

Revenue increased 8.6% to €1,508.9 million and EBITDA by 6.1% to €606.9 million.

There was also significant year-on-year growth from both the company’s distribution and IT solutions businesses.

Revenue in the distribution business increased by 7.2% to €1,157.4 million. The number of total bookings, including air travel agency and non air bookings, improved by 4.2%, to 252.2 million. The company’s global market share of travel agency air bookings expanded by 1% to 38.3%.

The IT solutions business revenue increased 13.6%t o €351.4 million, and the passengers boarded (PB) expanded by 27% to 259 million.

The financial performance for the first half of the year was backed by strong year-on-year results from both quarters. During the second quarter Amadeis’ adjusted profit increased by 30.3% to €164.6 million, total revenues were up by 8.8% to €744.7 million, and EBITDA rose by 6.8% to €299.7 million.

Amadeus’ President & CEO Luis Maroto (pictured left) said, “Despite the ongoing challenges of the global economic environment, this has been a success first half of the year and we have continued our growth record.

“Once again this sustained improved performance was underpinned by growth across both our businesses: Distribution’s revenue increased 7.2%, backed by a 1.0 p.p. expansion of global market share; whilst IT Solutions’ revenue rose 13.6%, supported by a 27.0% growth in passengers Boarded.

“The global economic outlook remains uncertain, and air traffic and GDS volumes have shown weakness in recent months, driven by the economic environment. Nonetheless, we believe that our business model will continue to prove resilient and support good results for the second half of this year.”

H1 financial result highlights

•  Global market share of travel agency air bookings expanded by 1%
•  Passengers boarded lifted by 27.0% to 259 million
•  Revenue grew 8.6%to €1,508.9 million
•  EBITDA rose 6.1% to €606.9 million
•  Adjusted profit increased 26.1% to €332.5 million
•  Net debt reduced further to 1.53x last twelve month’s EBITDA
 
 
 

 

 
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