Amadeus unveils Q1 2024 results with double-digit growth in revenue and profits, highlighting robust performance in travel technology sectors.
The leading travel technology provider, Amadeus has unveiled its first-quarter results for the year, revealing impressive double-digit growth across all reported segments.
Notable highlights from the three months ended March 31, 2024, include:
- Air Distribution revenue grew 12.6%, to €764.4 million.
- Air IT Solutions revenue increased 17.0%, to €497.0 million.
- Hospitality & Other Solutions revenue grew 13.2%, to €234.9 million.
- Group Revenue increased 14.1%, to €1,496.3 million.
- EBITDA grew 14.2%, to €582.0 million.
- Operating Income increased 19.1%, to €422.1 million.
- Adjusted profit increased 18.8%, to €324.5 million.
- Free Cash Flow increased 23.1%, to €336.1 million.
- Net financial debt was €2,460.0 million at March 31, 2024 (1.1 times last-twelve-month EBITDA).
In the first quarter of 2024, Amadeus continued to have a steady financial evolution. Amadeus’ Group Revenue, EBITDA and Operating Income increased by 14.1%, 14.2%, and 19.1% respectively, and Adjusted Profit expanded by 18.8%, over the previous year. Our financial performance in the quarter drove solid Free Cash Flow generation of €336.1 million, increasing 23.1% over the previous year. This resulted in Net Financial Debt of €2,460.0 million at March 31, 2024, representing 1.1 times last twelve months’ EBITDA.
Luis Maroto, President & CEO of Amadeus, commented, “Amadeus started the year strongly, reporting double-digit growth across all our reported segments. We are also advancing on our strategic initiatives. Amadeus will be deploying its NDC technology for Expedia Group, representing an endorsement to our industry-wide NDC roll-out, and British Airways signed for Amadeus Nevio, a milestone in the airline’s path to modern retailing. Based on this solid start to 2024, we look to the rest of the year 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.
