- Sustained growth record in both Distribution and IT Solutions businesses.
- Year-on-year first quarter highlights (three months ended March 31, 2012).
- Adjusted profit increased 22.1% to €167.9million.
- Revenue grew 8.5% to €764.1 million.
- EBITDA rose 5.4%to €307.2 million.
- Net debt reduced further to 1.65x last twelve months' EBITDA.
Madrid, Spain, May 9, 2012: Amadeus IT Holding, S.A. (Amadeus: "AMS.MC"), parent company of the Amadeus Group, a leading transaction processor and provider of advanced technology solutions for the global travel and tourism industry, has announced year-on-year financial and operating results for the first quarter of 2012 (three months ended March 31, 2012).
Adjusted profit for the quarter increased 22.1% to reach €167.9 million. This was backed by growth in revenue of 8.5% to €764.1million and a 5.4%rise in EBITDA to €307.2 million.
Consolidated net financial debt on March 31, 2012 was €1760.1 million (based on covenants' definition). This represented 1.65x last twelve months' EBITDA and was down by €91.7 million vs. December 31, 2011.
The Distribution and IT Solutions businesses both played equally important roles in the growth of the company during the quarter by delivering improved performances. Revenue in the Distribution business increased by 8.0%, rising to €597.6 million.Total bookings, including both air travel agency and non air bookings, increased by 6.1%, up from 124.7 million to 132.3 million.Amadeus also expanded its global market share of travel agency air bookings by 0.9of a percentage point, maintaining its leadership position with 38.2%. Whilst in the IT Solutions business revenue increased by10.4%, rising to €166.6 million, andthe Passengers Boarded (PB) figure was lifted by 23.3%, rising from 94.0 million PB to 115.9 million PB.Currently we calculate over 750 million PB for 2014, based on existing contracts.
Luis Maroto, President & CEO of Amadeus, commented:
Following on from our strong outcome in 2011, the results from the first quarter of this year continue to be very encouraging. Year-on-year we have grown revenues by 8.5% and adjusted profit by 22.1% to €167.9 million in the quarter.We have also further reduced our consolidated net debt by €91.7 million to reach 1.65x last twelve month's EBITDA.
|