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Amadeus IT Holding, S.A., 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 full year 2010 (12 months ended December 31 2010).
Adjusted profit for the year increased 24.3% to reach 427.4m. euros. This was backed by a growth in revenue of 10.6% to 2,683.3m euros and an improvement in EBITDA of 14.2% to 1,014.9m. euros.
Consolidated net financial debt on December 31 2010 was 2,571.3m euros (based on covenants’ definition). This represented 2.5x last twelve months’ EBITDA, and was down by 717.2m euros vs. December 2009.
The total billable travel transactions processed increased by 25.6% to reach 849.9m in 2010, rising from 676.6m.
In 2011 Amadeus will pay a total dividend of €134.3 million, which represents a pay-out of 35% of the Reported profit for the year of 2010, excluding extraordinary items related to the IPO.
Both the Distribution and IT Solutions businesses contributed to the company’s positive performance during the full year. Revenue in the Distribution area increased by 8.5%, rising from €1,836.3m to €1,992.2m. Total bookings increased by 6.9%, up from 413.2m to 441.6m. Amadeus also maintained its leadership position with 36.7% of the global market share of travel agency air bookings during 2010.
The IT Solutions business continued its growth record by increasing revenue 17.7% during the year, from 511.1m euros to 601.4m. euros. Passengers Boarded (PB) increased by 56.8% in the same period, rising from 237.5m to 372.3m as the total number of airlines migrated to Altea reached 94. As of December 31 2010, the total number of airlines contracted to Altea was 109, up from 90 in December 2009.
During the fourth quarter of 2010, compared with the same period in 2009, Amadeus’ results saw an improvement in total revenue of 6.0% from 593.8m euros to 629.7m euros, a rise in total EBITDA of 4.2% from 190.2m euros to 198.2m euros and an increase in adjusted net profit of 2.1%, up from 71.3m euros to 72.8m. euros.
Luis Maroto, President & CEO of Amadeus, said: “We delivered strong growth during 2010 and further strengthened our financial position by substantially reducing our financial debt. Our year-on-year total revenue grew by 10.6% to €2,683.3m, along with an increase in our total EBITDA of 14.2% to 1,014.9m. euros. Our adjusted profit for the year grew by 24.3% to total 427.4m. euros.
“Our transaction-based model has again proven adaptable and profitable, allowing us to benefit from the significant improvement in the global travel industry during 2010. During 2011, we aim to reinforce our leading position worldwide, both in our Distribution and IT Solutions businesses. We look forward to 2011 with confidence.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
