The Amadeus company has achieved double-digit growth in the main business figures, with increases of 16.9% in profit, up to 1,314 million euros, while revenues increased 12.6%, with sales of 4,600 million. In the first nine months of 2024, Amadeus has confirmed increased profitability, with double-digit growth, which translated into an increase in EBITDA margins and operating profit. Compared to the previous year, the group’s revenue increased by 12.6%, ebitda increased by 13.3% and adjusted profit improved by 17.4%. The financial results for the first nine months of 2024 generated a free cash flow of 975.2 million euros, which materialized in a net financial debt of 2,511 million euros, equivalent to 1.09 times the EBITDA of the last twelve months.
By activity areas, distribution revenues increased by 10.0%, up to 2,230 million euros, driven by the sustained growth of reservations (3.4%) and unit income per reservation (6.4%), while sales of Technological Solutions for the Airline Industry increased by 16.2%, up to 1,636.2 million euros. This figure has been impacted by boarded passengers, which increased by 12.0% in the nine-month period, driven by the growth in global air traffic and the positive effect of customer implementations in the 2023-2024 period.
In turn, Hotels and Other Solutions revenues grew by 12.9%up to 733.9 million euros, due to implementations in new clients and the expansion of volumes. The costs related to the acquisitions of Vision-Box and Voxel amounted together to 4.8 million euros (3.8 million euros after taxes), while Amadeus has reported that the resolution of the proceeding in India, has allowed it to collect 42.8 million euros from the Indian tax authorities in the second quarter of 2023.
The financial debt reached 2,511.0 million euros at the end of September (1.09 times the EBITDA of the last twelve months), which represents an increase of 370.4 million euros in the first nine months of the year with respect to as of December 31, 2023. This figure has been impacted by the acquisition of own shares, for a total amount of 353.8 million euros, within the framework of the share buyback program announced on November 6, 2023, as well as the payment of a dividend charged to 2023 profits, for a total amount of 541.9 million euros and the acquisition of Vision-Box and Voxel.
Luis Maroto, CEO of Amadeushas positively assessed the evolution of the first nine months of the year, “with profitability and cash generation, thanks to the good results of all our activities,” according to the results release. Given the data for the third quarter and the favorable expectations for the fourth quarter, the company’s chief executive reiterates his confidence in achieving the objectives set at the beginning of the year. “We are confident in the growth opportunities that Amadeus has ahead of us and are determined to make them a reality. We are accelerating our investments and aim to become the leading aggregator of NDC (New Distribution Capability) content. for airlines and travel agencies, to lead the transformation of the retail sale of technological solutions for airlines and to be the reference technology provider for the hotel sector.
#Amadeus #increases #profits #September #due #improvement #global #air #traffic
