Amadeus sees increase in profits for first half of 2018

Tech giant Amadeus has reported an adjusted profit of €607 million for the first half of 2018.

The figure represents growth of 6.1 per cent compared to the same period last year.

At the same time, Amadeus’ revenue grew 4.1 per cent from January to June compared to the first half of 2017, reaching €2,477 million, while EBITDA increased 8.2 per cent to €1,078.2 million.

Shares in the company rose two per cent following the release of the figures.

Amadeus warned, as happened in the first quarter, its results for the period continued to be distorted by the United States dollar/euro exchange rate compared to the same period last year, which had an important negative effect.

Excluding foreign exchange effects in the first half of the year both revenue and EBITDA grew at high single digit rates, with a broadly stable EBITDA margin.

Luis Maroto, president of Amadeus, commented: “Amadeus’ financial results continue their positive trend in the first half of the year.

“Our businesses again showed solid growth with both revenue and EBITDA growing at high single-digit rate excluding foreign exchange effects with a broadly stable EBITDA margin.

“We remain optimistic on the outlook for the rest of the year.

“We continued to secure and expand the content available for our subscribers through the Amadeus system, with content agreements signed or renewed with 15 carriers.

“The 18 per cent increase in the number of passengers boarded of our IT Solutions business (which amounted to 888 million in the first half of 2018) was supported by a 7.8 per cent organic growth and by our latest migrations.

“We also continued to progress successfully in our diversification strategy into new businesses.”

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