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November 3: Amadeus IT Group, S.A., a leading technology partner for the global travel industry, achieved adjusted profit of €846.7 million during the nine first months of 2017. This represents an increase of 14.7% compared to the same period last year. Amadeus’ revenue grew 8.9% from January to September, to €3,686.6 million, while EBITDA increased 10.1% to €1,466.3 million. In the Distribution segment, travel agency air bookings grew 6.0% to 434.4 million – outperforming GDS industry growth of 4.4% In IT Solutions, passengers boarded increased 19.4%, to a total of 1,228.1 million Luis Maroto, President & CEO of Amadeus, commented: “Amadeus maintained its positive growth in the nine first months of the year. All of our businesses performed well, which contributed to a 10.1% increase in EBITDA. “We had important developments in our Airline IT segment. We signed significant deals with leading airlines such as Air Canada, which further strengthens our presence in North America following the Southwest Airlines’ domestic flights migration in May. In our Distribution segment, our bookings continued outperforming the industry thanks to enhancements in our competitive position. “Our new businesses also performed well, showing the strength of our diversification strategy. We expanded our Hospitality portfolio with Premier Inn, which signed up for the two key capabilities (CRS and PMS) of our Hospitality Platform to be able to offer a personalised experience to its guests. The hotel chain also signed up for our payments platform to streamline payment processes. Our Airport IT customer base also increased significantly, with agreements with airports around the world such as Calgary in Canada, Pittsburgh in the U.S and Baku in Azerbaijan. “Given the steady progression of our businesses throughout these past nine months, we look forward to the rest of the year with confidence.” Read original report |
