May, 5: Amadeus IT Group, S.A., a leading technology partner for the global travel industry, achieved adjusted profit of €293.6 million for the first quarter of 2017, an increase of 19.6% versus the same period last year. This growth was underpinned by an increase of 11.7% in revenue, to €1,250.8 million, and 12.0% in EBITDA to €502.8 million.
First quarter highlights (three months ended March 31, 2017)
· Revenue increased 11.7%, to €1,250.8 million
· EBITDA grew 12.0%, to €502.8 million
· In the Distribution segment, total travel agency air bookings rose to 154.3 million, representing growth of 9.3%
· In IT Solutions, Passengers Boarded increased 24.6% to 339.6 million
Luis Maroto, President & CEO of Amadeus, commented:
“Amadeus’ core businesses performed well in the first quarter of 2017“.
"We look forward to the rest of the year with confidence. The migration of Southwest Airlines (domestic passengers) and the roll-out of the Amadeus Guest Reservation System with InterContinental Hotels Group will be among the key business milestones in the coming months“.
Financial highlights for the first quarter
· Revenue increased to €837.4 million, 11.4% more than in the same period last year
· Travel agency air bookings grew 9.3% to 154.3 million – outperforming GDS industry growth of 6.7%
During the first quarter, travel agency air bookings grew across all regions, which allowed us to improve our travel agency air competitive position by 0.9 percentage points to 43.5%. Latin America, Asia & Pacific and North America registered the strongest growth, of 19.9%, 11.7% and 12.0% respectively.
· Revenue grew 12.3% to €413.5 million
· Amadeus passengers boarded increased 24.6%, to a total of 339.6 million
During the first three months of the year, the number of passengers boarded was 24.6% higher than in the same period of 2016. The consolidation of Navitaire New Skies had a positive impact, whilst a leap year effect (creating a higher base of comparison in 2016) and the timing of Easter impacted negatively. Additionally, growth in passengers boarded was fuelled by the impact from the 2016 implementations (including Swiss International Air Lines, Brussels Airlines, China Airlines and Ukraine International Airlines on Altéa and Viva Group on New Skies) and organic growth of 6.9%.
Read original article