Travel Growth Boosts Amadeus’ Q1 Performance
Amadeus, a provider of advanced technology solutions for the global travel industry, has reported robust financial performance for Q1 2023, driven by the global recovery of air traffic and significant improvements across all segments.
Air Distribution bookings saw a 32.8% rise to 121.8 million, while Air IT Solutions passengers boarded increased by 55.1%, reaching 409.5 million. Air Distribution revenue grew by 52.2% to €678.9 million, while Air IT Solutions revenue climbed 35.7% to €424.9 million.
Furthermore, Hospitality & Other Solutions revenue saw a 31.3% increase to €207.5 million, demonstrating the strength of Amadeus’ diversified business model.
The company’s financial health is further reflected in its Group Revenue, which experienced a 43.0% upsurge, totalling €1,311.3 million. EBITDA showed a strong performance, escalating by 72.3% to €509.8 million.
Adjusted profit surged 187.6% to €273.1 million, while Free Cash Flow swelled by 117.4% to €272.6 million. As of March 31, 2023, the Net financial debt stood at €2,026.0 million, equating to 1.1 times the last-twelve-month EBITDA.
Luis Maroto, President & CEO of Amadeus, noted that the Asia Pacific region’s traffic had recovered particularly well, with Amadeus bookings and passengers boarded growing significantly in the first quarter compared to last year. With a positive commercial pipeline and recovering travel volumes, Amadeus’ performance is expected to continue improving throughout the year.
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