Amadeus, a leading provider of technology solutions for the travel industry, has announced its financial results for the first quarter of 2024. The company reported a strong performance, with double-digit growth in all of its reported segments.
Amadeus’ Group Revenue for the quarter increased by 14.1% to €1,496.3 million, driven by growth in all three of its business segments: Air Distribution, Air IT Solutions, and Hospitality & Other Solutions. Air Distribution revenue increased by 12.6% to €764.4 million, Air IT Solutions revenue grew by 17.0% to €497.0 million, and Hospitality & Other Solutions revenue increased by 13.2% to €234.9 million.
The company’s EBITDA increased by 14.2% to €582.0 million, while Operating Income grew by 19.1% to €422.1 million. Adjusted Profit also saw a significant increase of 18.8% to €324.5 million.
Amadeus’ financial performance was supported by a solid generation of Free Cash Flow, which increased by 23.1% to €336.1 million. At March 31, 2024, the company’s Net Financial Debt stood at €2,460.0 million, representing 1.1 times last twelve months’ EBITDA.
Commenting on the results, Luis Maroto, President & CEO of Amadeus, said: ‘We started the year in a strong manner, reporting double-digit growth in all of our reported segments. We are also progressing on our strategic initiatives, such as our recently announced partnership with Expedia Group, where we will be providing our NDC technology to support their industry-wide NDC roll-out.’
Amadeus’ strong financial performance in the first quarter of 2024 reflects the company’s continued focus on innovation and its ability to capitalize on the recovery of the travel industry. The company is well-positioned to continue its growth trajectory in the coming quarters and remains committed to delivering value to its customers and shareholders.
