Amadeus today announced its financial results for the first quarter of the year. We achieved adjusted profit of €293.6 million, which represents an increase of 19.6% versus the same period last year. This growth was underpinned by an increase of 11.7% in revenue, to €1,250.8 million, and 12.0% in EBITDA to €502.8 million.
“Amadeus’ core businesses performed well in the first quarter of 2017”, explained Luis Maroto, President & CEO of Amadeus.
In our Distribution segment, revenue grew by 11.4%. Travel agency air bookings grew across all regions, which allowed us to improve our travel agency air competitive position by 0.9 percentage points to 43.5%. Latin America, Asia & Pacific and North America registered the strongest growth, of 19.9%, 11.7% and 12.0% respectively. Travel agency air bookings were positively impacted by a higher number of working days in the period, mostly due to the timing of Easter (which in 2017 happened in April and in 2016 took place in March).
Our IT Solutions segment grew 12.3% in revenue and 24.6% in passengers boarded. At the end of March, 192 customers had contracted either of the Amadeus Passenger Service Systems, with 178 of these customers having already implemented them.
We also continued to offer airlines innovative solutions, such as the new Amadeus Altéa NDC, which gives an additional distribution option for travel retailers. This allows travellers to complete their purchase without leaving the travel retailers’ platforms, improving conversion rates. We are piloting the solution with Finnair and Skyscanner.
“We look forward to the rest of the year with confidence. The migration of Southwest Airlines (domestic passengers) and the roll-out of the Amadeus Guest Reservation System with InterContinental Hotels Group will be among the key business milestones in the coming months”, said Luis Maroto.
To learn more about today’s results please take a look at our financial results Q1 2017 infographic, read the press release, or visit the Investor Relations website, where you will find all the documents filed with the stock exchange authorities this morning.