Amadeus continues growth track record with strong first half

Amadeus continues growth track record with strong first half

first_imgAmadeus strongly outperformed the industry during the first half, increasing global air travel agency bookings by 10.0% against an industry increase of 4.9%. This was mostly due to a market share gain of 1.9 p.p. in global air travel agency bookings. This in turn was due in large part to the migration of the travel agencies previously connected to Topas in South Korea, but also supported by continued market share gains in North America. To read more of the report click hereSource = Amadeus Amadeus continues growth track record with strong first halfAmadeus IT Holding, S.A., a leading technology partner for the global travel industry, reports year-on-year financial and operating results for the first half of 2015 (six months ended June 30, 2015). Adjusted profit for the period grew 10.3% to €419.6 million. This was driven by an increase in revenue of 14.2%, to €1,976.8 million, and EBITDA growth of 10.8%, to €778.8 million.Luis Maroto, President & CEO of Amadeus, commented:¨Amadeus has maintained its track record for growth in both revenues and profitability through a combination of market share expansion and growth in its businesses.¨Distribution delivered strong revenue growth of 11.3% through a 1.9p.p. increase in global market share of air travel agency bookings. IT Solutions continued its track record for double-digit growth with a revenue increase of 22.3%, with Asia-Pacific remaining the driving force.¨Our solid business model and our strong cash-flow generation have allowed us to make strategic acquisitions. Early in July we announced an agreement to acquire Navitaire, subject to approval by regulators, that once completed will give Amadeus a strong position in IT solutions for the low-cost carriers market. Following that, we also announced plans to acquire Netherlands-based Itesso BV, a provider of cloud-native property management systems (PMS) for hotels. Whilst earlier in the year we accelerated our growth in the Airport IT space with the acquisition of Air-Transport IT Services Inc. (AirIT), a leading company in the segment, with a portfolio of solutions used by 30 of the busiest 50 airports in the US. We look forward with confidence to the remainder of the year.¨Consolidated net financial debt stood at €1,645.5 million at June 30, 2015, representing 1.19x the ratio of covenant net debt to the last twelve months’ covenant EBITDA.An appreciation of the US dollar versus the Euro relative to 2014 contributed a positive foreign exchange impact on the revenue and EBITDA of Amadeus during the first half of 2015; conversely, the same impact reduced the EBITDA margin.On May 12 we completed our share buy-back programme announced in December 2014, in total investing €320m (including fees) and repurchasing 8,759,444 shares (representing 1.957% of share capital). Following this, at the General Shareholders Meeting on June 25, shareholders approved the reduction in share capital through the amortisation of the repurchased shares.Also at the General Shareholders Meeting on June 25, shareholders approved a gross dividend of €0.70 per share for the results from the 2014 financial year. This represented a 50% pay-out ratio and amounted to a total dividend of €313.3 million, which was 12% higher than the dividend for the 2013 financial year.last_img

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