Amadeus IT Group, S.A achieved an adjusted profit of €305.6 million for the first three months of 2018. This represents an increase of 4.3% compared to the same period last year. Amadeus' revenue grew 3.1% from January to March compared to the first quarter of 2017, reaching €1,230.0 million, while EBITDA increased 7.4% to €539.0 million.
First quarter of the year highlights (three months ended March 31, 2018)
– Revenue increased 3.1%, to €1,230.0 million (8.2% growth excluding foreign exchange effects)
– EBITDA grew 7.4%, to €539.0 million (7.9% growth excluding foreign exchange and IFRS 16 effect1)
– In the Distribution segment, travel agency air bookings reached 160.0 million, which represents growth of 3.7%
– In IT Solutions, Passengers Boarded increased 22.7% to 416.9 million
Luis Maroto, President & CEO of Amadeus, commented:
“Amadeus has started the year with positive financial results. The solid operating performance of our businesses contributed to an 8.2% increase of our revenues and 7.9%3 increase of EBITDA, when excluding FX, which has been a negative headwind these first three months of the year”.
– Revenue increased 2.1% to €795.5 million (mid-to-high single-digit growth excluding FX effect)
– Travel agency air bookings grew 3.7% to 160.0 million
Asia Pacific, Central and Eastern and South Europe and North America were the fastest growing regions in terms of travel agency air bookings. Western European bookings decreased compared to the first quarter of 2017, dragged by the industry decline in Western Europe, impacted by the timing of Easter and a number of effects.
– Revenue grew 5.1% to €434.5 million (low double-digit growth excluding FX effect)
– Amadeus passengers boarded increased to 416.9 million, 22.7% more than in the same quarter of 2017
Passengers boarded grew 22.7% thanks to the impact from 2017 migrations and organic growth of 7.7%, which benefitted from the timing of Easter. Last year’s implementations contributed to expanding the international footprint, with 65.3% of our passengers boarded generated outside Europe in the first quarter.
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