Amadeus posts revenue and profit rise in first half of 2019

posted on 31st July 2019 by Justin Burns
Amadeus posts revenue and profit rise in first half of 2019

Airline, airport and ground handling IT provider the Amadeus IT Group has reported a revenue, earnings and profit rise for the first half of 2019 ending 30 June.

Revenue increased 14.4 per cent to €2.83 billion, EBITDA expanded 10.7 per cent to €1.19 billion and adjusted profit increased 9.9 per cent to €666.7 million, compared to the same period of 2018.

Amadeus said it maintained its positive growth trend in the period due to the solid operating performances of its distribution and IT solutions businesses, the consolidation of TravelClick and a positive foreign exchange impact.

The company said the airline IT segment continued delivering healthy growth. Revenue grew 31 per cent in the first half of the year, to €1.19 billion, supported by the positive operating performance of Airline IT and new businesses.

The number of passengers boarded using Amadeus IT technology grew 6.6 per cent during the second quarter, to 947 million, supported by 2018 implementations (incuding S7 Airlines, Maldivian Airlines, Cyprus Airways and Aeromar) and Philippine Airlines and Flybe so far in 2019.

President and CEO, Luis Maroto said: “The resilience of our businesses has allowed us to maintain a strong growth trend in the first half of the year despite a weaker travel industry. Amadeus’ IT Solutions and Distribution businesses continue to grow, thanks to an expanding customer base.

“Additionally, we are progressing with our diversification strategy following the acquisition of TravelClick and ICM, thereby enhancing our presence and reach in the hospitality and airport IT segments.  With our global presence and our strong focus on investments in technology, we should maintain this positive growth trend.”