Amadeus reports solid financial growth in 2018

posted on 28th February 2019 by Justin Burns
Amadeus reports solid financial growth in 2018

Amadeus has reported that it maintained its solid financial growth in 2018 as revenue and earnings (EBITDA) grew strongly and profit was up.

The aviation and travel industry IT company said growth was supported by the operating performances of both its distribution and IT solutions businesses, as well as the acquisition and consolidation of the TravelClick business from 4 October, 2018.

For the 12 months ending 31 December, 2018, revenue increased 6.6 per cent, to €4,943.9 million and earnings (EBITDA) grew 9.7 per cent, to €2,040.6 million. In IT solutions, passengers boarded increased 11.9 per cent to €1,853.9 million.

Amadeus IT Group achieved an adjusted profit of €1,122.8 million in 2018, which represents growth of one per cent compared to 2017.

During 2018, Amadeus said its financial performance was distorted by the USD/Euro exchange rate fluctuation compared to 2017, which had a negative impact both on revenue and EBITDA.

Amadeus also made progress in its Airport IT business, expanding considerably the portfolio of customers. At the close of the year, 126 ground handlers, 115 airport operators and 34 airlines were using its airport IT portfolio of solutions.

The IT company won contracts with Billund Airport, which has deployed Amadeus Altéa Departure Control System and Amadeus Baggage Reconciliation System (BRS).

The company also saw increasing interest from customers in the Amadeus Extended Airline System Environment (EASE) and signed contracts with JFK Airport, Los Angeles International Airport, Bozeman Yellowstone International Airport BZN and Charleston County Aviation Authority.

Amadeus president and chief executive offier, Luis Maroto said: “Amadeus maintained its long track record of revenue and profitability growth in 2018. Our diversification efforts, including the broadening of our Hospitality offering through the acquisition of TravelClick, also supported our growth.

“Operationally, we have made good progress, maintaining a steady flow of new customer signatures and implementations in Airline IT. We have also continued to expand content for our subscribers with 50 new contracts or renewals of distribution agreements in 2018.

“We are confident about our financial performance in 2019. We will continue to invest in our technology to underpin our success in the long term.”