Amadeus reports increased third quarter profits

Amadeus saw adjusted profit rise by 20.2% to €481.3 million in the first nine months of the year despite a weakness in GDS volumes.

The European technology company’s global market share of travel agency air bookings was up by just 0.9 of a percentage point.

Results for the three months to September show adjusted profit up by 8.8% to €148.8 million, total revenues up by 8% to €724.2 million, and EBITDA rising by 7.4% to €282.9 million.

The performance was supported by “significant” year-on-year growth from both the distribution and IT solutions businesses, Amadeus said.

Nine month revenue in the distribution business increased by 6.4%, rising to €1.7 billion while the number of total bookings, including both air and non air travel agency bookings, improved by 3.3%, to 365.8 million.

IT solutions business revenue increased by 15.1% to €542.6 million. The passengers boarded figure was up by 28.4% to 420.4 million.

Amadeus projects over 760 million passengers boarded for 2014, based upon existing contracts.

President and chief executive Luis Maroto said: “In spite of continued global macro-economic challenges, Amadeus has maintained its consistent growth record during the first nine months of the year, including the third quarter.

“Whilst traffic and GDS volumes have shown some weakness this year, driven by the still uncertain economic environment, we nonetheless believe our geographically diverse business model remains resilient.”

Full year results for 2012 are due to be released in February.

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