Amadeus Reports 11.7 Percent Increase in First-Quarter Profits

Amadeus Reports 11.7 Percent Increase in First-Quarter Profits

Amadeus IT Holding, S.A., parent company of the Amadeus Group, reported adjusted profit for the quarter increased 11.7 percent to reach 144 million euros. This was backed by a growth in revenue from continuing operations of 2.8 percent to 704.3 million euros and an improvement in EBITDA of 6.8 percent to 291.4 million euros.

Excluding the impact of the sales of equity stakes in Vacation.com and Hospitality Group in 2010, and the impact of a change in treatment of certain bookings within IT Solutions, revenue grew by 4.8 percent.

Both the Distribution and IT Solutions businesses contributed to the company’s positive performance during the quarter. Revenue in the Distribution area increased by 2.8 percent (3.4 percent excluding the impact of the sale of Vacation.com), rising to 553.5 million euros. Total bookings increased by 4.3 percent, up from 119.5 million to 124.7 million.

The IT Solutions business continued its growth record by increasing revenue 2.8 percent during the quarter (10 percent excluding the impact of the sale of Hospitality Group and the change in treatment of certain bookings) to 150.9 million euros.

Passengers boarded increased by 38.8 percent in the same period, rising from 67.7 million to 94 million as the total number of airlines migrated to Amadeus Altéa reached 97. As of March 31, 2011, the total number of airlines contracted to Amadeus Altéa was 110, up from 109 in December 2010.

During the first quarter of 2011 Amadeus said it signed a long-term content agreement with Singapore Airlines, a leading Asian carrier, as well as further content agreements with an additional nine airlines, including Belgian flag carrier Brussels Airlines. Content agreements guarantee access to a comprehensive range of fares, schedules and availability for all Amadeus travel agents around the world.