|Strong 2013 for Amadeus with good growth in APAC IT sector.|
Thursday, 6th March 2014
Source : Web in travel
Spain based Amadeus has reported a positive 2013 performance, with revenue increased by 6.6% year-on-year to €3,103.7 million, and adjusted profit for the year up 7.8% to €619.5 million.
Revenue increased by 6.6%, to €3,103.7 million, and earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 7.2%, to €1,188.7 million.
In the distribution business, total air travel agency bookings increased by 6.5%, to 443.4 million, on the back of strong growth in North America (+38.1%) and Latin America (+12.5%).
The company’s IT solutions business reported the number of passengers boarded increased by 9.2% to 615.7 million, with a 57.6% rise in Asia Pacific.
Last year also saw Amadeus accelerated its move into new business areas with the acquisition of Newmarket International, a leading US-based Hotel IT provider, for US$500 million.
Luis Maroto, president and chief executive of Amadeus, said, “Our transaction-based business model has continued to be resilient in the face of industry challenges, while our investment in R&D, which drives product evolution and portfolio expansion, has contributed to our continued growth.
“Even in the context of slow growth in the wider market, Amadeus continued to outperform the travel distribution industry and reinforce its leading position in the air distribution segment, with a market share increase to 40.1% in total air travel agency bookings. This was most apparent in North America, one of our strategic targets for expansion, where despite contraction in the region we achieved a 38.1% increase.”
Distribution business update
- Revenue increased by 5.3%, to €2,317.8 million.
- Air travel agency bookings rose 6.5%, to 443.4 million.
- Market share expanded by 1.5%, reaching 40.1%
- During the year, distribution contracts with airlines due for renewal were extended with British Airways, Iberia, Iberia Express and Air France-KLM.
- Content agreements were also signed with American Airlines, China Airlines, LATAM Airlines Group (including both LAN and TAM) and Thai Airways.
- Content available for travel agency subscribers continued to expand, as 10 new low cost carriers were added to the platform.