Amadeus announces results for first nine months of 2011
Both Distribution and IT Solutions businesses continue strong growth in first nine months and third quarter
Comunicato Precedente
Comunicato Successivo
Milano,
(informazione.it - comunicati stampa - società)
Year-on-year highlights for year-to-date (nine months ended September 30, 2011)
• Adjusted profit[1] increased 19.5% to €400.6 million
• Revenue from continuing operations grew 3.7% to €2,059.8 million, or 5.4% on a comparable basis[2]
• EBITDA from continuing operations rose 6.0%[3] to €835.6 million
• Net debt decreased by €720.5 million to 1.75x last twelve months’ EBITDA
• Global market share[4] of travel agency air bookings increased by 0.9 percentage points to 37.2%
• Total air travel agency bookings increased by 4.8% to 307.7 million
• Passengers Boarded (PB)[5] increased by 21.0% to 327.5 million
Madrid, Spain, November 10, 2011 - 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 year-to-date (nine months ended September 30, 2011).
Adjusted profit for the first nine months increased 19.5% to reach €400.6 million. This was backed by a growth in revenue from continuing operations of 3.7% to €2,059.8 million and an improvement in EBITDA from continuing operations of 6.0% to €835.6 million. Excluding the impact of the sales of equity stakes in Vacation.com and Hospitality Group during 2010, and the impact of a change in treatment of certain bookings within IT Solutions, revenue grew by 5.4%2.
The Distribution and IT Solutions businesses both played significant roles in the company’s performance during the first nine months of the year. Revenue in the Distribution area increased by 3.9% (4.7% excluding the impact of the sale of Vacation.com), rising to €1,588.4 million. Total bookings, including both air travel agency and non air bookings, increased by 4.6%, up from 338.6 million to 354.1 million. Amadeus also increased its global market share of travel agency air bookings by 0.9 percentage points, maintaining its leadership position with 37.2% of the global market share of travel agency air bookings during the first nine months of 2011.
IT Solutions continued its growth record with an increase in revenue of 3.1% during the first nine months (7.6% excluding the impact of the sale of Hospitality Group and the change in treatment of certain bookings[6]) to €471.4 million. Passengers Boarded (PB)[7] increased by 21.0% in the same period, rising from 270.6 million to 327.5 million.
The financial performance for the first nine months is backed by strong year-on-year results for the third quarter of the year: Amadeus’ adjusted profit increased by 36.6%, up from €100.2 million to €136.8 million, total revenues were up by 3.3% (4.6% excluding the impact of the sale of Vacation.com and Hospitality Group) from €649.2 million to €670.8 million, and EBITDA rose by 6.0% from €248.5 million to €263.5 million.
During the third quarter of the year Amadeus successfully issued a €750 million 5-year Euro Bond, as part of its long-term strategy to strengthen its financial structure and diversify its funding sources. Amadeus’ consolidated net financial debt on September 30, 2011 was €1,850.8 million (based on covenants’ definition), representing 1.75x last twelve months’ EBITDA. This figure was down by €720.5 million, or 28.0%, vs. December 2010.
Luis Maroto, President & CEO of Amadeus, said:
“Both the first nine months of this year and the third quarter have delivered an increase in total billable travel transactions - demonstrating the strength and flexibility of our transaction-based model.
“Once again both the Distribution and IT Solutions businesses have contributed significantly to our performance, with each producing a combination of increased transactions from existing customers along with both new customers and improved market share. During the first nine months, in Distribution our global market share of air travel agency bookings increased by 0.9 percentage points and air travel agency bookings increased by 4.8%, whilst in IT Solutions the number of Passengers Boarded increased by 21.0% to 327.5 million - we now expect our annual Passengers Boarded to be more than 725 million by 2014[8].”
“From the financial viewpoint, the figures from both the first nine months and third quarter are encouraging: in the first nine months EBITDA grew by 6.0% to €835.6 million and in the third quarter also by 6.0% to €263.5 million; in the first nine months adjusted profit rose by 19.5% to €400.6 million and in the third quarter by 36.6% to €136.8 million; and net debt between December 31, 2010 and the end of September this year decreased by €720.5 million to represent only 1.75x last twelve months’ EBITDA. We look forward to the full year results with confidence.”
• Adjusted profit[1] increased 19.5% to €400.6 million
• Revenue from continuing operations grew 3.7% to €2,059.8 million, or 5.4% on a comparable basis[2]
• EBITDA from continuing operations rose 6.0%[3] to €835.6 million
• Net debt decreased by €720.5 million to 1.75x last twelve months’ EBITDA
• Global market share[4] of travel agency air bookings increased by 0.9 percentage points to 37.2%
• Total air travel agency bookings increased by 4.8% to 307.7 million
• Passengers Boarded (PB)[5] increased by 21.0% to 327.5 million
Madrid, Spain, November 10, 2011 - 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 year-to-date (nine months ended September 30, 2011).
Adjusted profit for the first nine months increased 19.5% to reach €400.6 million. This was backed by a growth in revenue from continuing operations of 3.7% to €2,059.8 million and an improvement in EBITDA from continuing operations of 6.0% to €835.6 million. Excluding the impact of the sales of equity stakes in Vacation.com and Hospitality Group during 2010, and the impact of a change in treatment of certain bookings within IT Solutions, revenue grew by 5.4%2.
The Distribution and IT Solutions businesses both played significant roles in the company’s performance during the first nine months of the year. Revenue in the Distribution area increased by 3.9% (4.7% excluding the impact of the sale of Vacation.com), rising to €1,588.4 million. Total bookings, including both air travel agency and non air bookings, increased by 4.6%, up from 338.6 million to 354.1 million. Amadeus also increased its global market share of travel agency air bookings by 0.9 percentage points, maintaining its leadership position with 37.2% of the global market share of travel agency air bookings during the first nine months of 2011.
IT Solutions continued its growth record with an increase in revenue of 3.1% during the first nine months (7.6% excluding the impact of the sale of Hospitality Group and the change in treatment of certain bookings[6]) to €471.4 million. Passengers Boarded (PB)[7] increased by 21.0% in the same period, rising from 270.6 million to 327.5 million.
The financial performance for the first nine months is backed by strong year-on-year results for the third quarter of the year: Amadeus’ adjusted profit increased by 36.6%, up from €100.2 million to €136.8 million, total revenues were up by 3.3% (4.6% excluding the impact of the sale of Vacation.com and Hospitality Group) from €649.2 million to €670.8 million, and EBITDA rose by 6.0% from €248.5 million to €263.5 million.
During the third quarter of the year Amadeus successfully issued a €750 million 5-year Euro Bond, as part of its long-term strategy to strengthen its financial structure and diversify its funding sources. Amadeus’ consolidated net financial debt on September 30, 2011 was €1,850.8 million (based on covenants’ definition), representing 1.75x last twelve months’ EBITDA. This figure was down by €720.5 million, or 28.0%, vs. December 2010.
Luis Maroto, President & CEO of Amadeus, said:
“Both the first nine months of this year and the third quarter have delivered an increase in total billable travel transactions - demonstrating the strength and flexibility of our transaction-based model.
“Once again both the Distribution and IT Solutions businesses have contributed significantly to our performance, with each producing a combination of increased transactions from existing customers along with both new customers and improved market share. During the first nine months, in Distribution our global market share of air travel agency bookings increased by 0.9 percentage points and air travel agency bookings increased by 4.8%, whilst in IT Solutions the number of Passengers Boarded increased by 21.0% to 327.5 million - we now expect our annual Passengers Boarded to be more than 725 million by 2014[8].”
“From the financial viewpoint, the figures from both the first nine months and third quarter are encouraging: in the first nine months EBITDA grew by 6.0% to €835.6 million and in the third quarter also by 6.0% to €263.5 million; in the first nine months adjusted profit rose by 19.5% to €400.6 million and in the third quarter by 36.6% to €136.8 million; and net debt between December 31, 2010 and the end of September this year decreased by €720.5 million to represent only 1.75x last twelve months’ EBITDA. We look forward to the full year results with confidence.”
Ufficio Stampa
Giovanna Valvo
Imageware (Leggi tutti i comunicati)
via Moretto da Brescia 22
20133 Milano Italia
[email protected]
02 700251
