Amadeus reports robust financial performance in first 9 months of 2023

Wednesday, November 8, 2023

Amadeus, a global technology provider for the travel industry, has reported robust financial performance for the first nine months of 2023.

The company’s growth trajectory continued, with several key highlights relative to the previous year:

• Air Distribution bookings increased by 15.7% to reach 348.0 million.
• Air IT Solutions passengers boarded grew by 29.7% to reach 1,452.8 million.
• Air Distribution revenue showed strong growth, increasing by 25.9% to €2,027.6 million.
• Air IT Solutions revenue also increased significantly, rising by 22.0% to €1,408.5 million.
• Revenue from Hospitality & Other Solutions experienced substantial growth, increasing by 17.8% to €650.4 million.
• Group Revenue increased by 23.2% to reach €4,086.5 million.
• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by an impressive 33.8%.
• Adjusted profit increased by 67.6%.
• Free Cash Flow increased by 49.8%.
• Net financial debt was reported at €2,121.7 million at the end of September 2023, representing 1.1 times the last twelve-month EBITDA.

Luis Maroto, President & CEO of Amadeus, expressed his satisfaction with the company’s performance and highlighted the growth opportunities ahead. He mentioned that the travel industry’s strengthening, combined with commercial successes, has bolstered the business. In light of the company’s financial strength, they announced a new share repurchase program covering over 8.8 million Amadeus shares, equivalent to about €625 million.

Amadeus witnessed significant growth in its various business segments. Air Distribution bookings showed strong growth, particularly in the Asia-Pacific region, where bookings expanded by 75.3%. Air IT Solutions also reported substantial revenue growth, with Asia-Pacific being the best-performing region. Hospitality & Other Solutions contributed to the revenue increase, with major transactions involving prominent hotel groups.

Additionally, Amadeus introduced Amadeus Nevio, a new generation of airline technology and solutions aimed at enhancing the traveler experience. Amadeus is partnering with Saudia, the flag carrier of Saudi Arabia, to implement this technology. This transition will go beyond existing industry standards to provide advanced retailing capabilities and improve the traveler-centric approach.

Amadeus remains optimistic about its growth opportunities and continues to monitor the macroeconomic and geopolitical situation as it looks ahead to further success in the travel industry.

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