Amadeus announced today its full year 2017 financial results. We achieved adjusted profit of €1,116.1 million last year, which represents growth of 22.5% compared to 2016. Revenue grew 8.5%, to €4,852.7 million, while EBITDA increased 9.7% to €1,865.1 million.
“In our Airline IT segment we had important milestones such as the migration of Southwest’s domestic flights to Altéa in May”, explained Luis Maroto, CEO & President of Amadeus. “We also signed important deals with leading carriers such as Air Canada, which further contributes to our geographical diversification. In fact, last year 57.7% of passengers boarded through either Altéa or New Skies were generated outside of Europe compared to 54.1% in 2016”.
Our diversification strategy registered success not only in terms of geographical scope, but also with the expansion of our customer base across our new businesses. In Hospitality, Premier Inn signed up for the two key capabilities (CRS and PMS) of our Hospitality Platform in November. Premier Inn also became the first hotel chain to adopt the Amadeus Payment solutions. Our Airport IT customer base grew with agreements with airports around the world, from Australia to France, the US and the CIS region.
In our Distribution segment, travel agency air bookings grew across all regions supported by industry growth and an enhancement of 0.6 p.p. of our competitive position. Asia Pacific, with an 11.4% increase and Latin America, with 10.0% were the best performing regions.
During 2017, we signed 55 new contracts or renewals of content agreements with airlines, including TUI fly, Air Canada, Westjet Airlines, Korean Air, Delta Air Lines, Avianca Argentina and several low cost carriers (LCC). Subscribers to Amadeus’ inventory can now access over 110 LCC and hybrid carriers’ content worldwide. Bookings for LCC and hybrid carriers grew 9% in 2017 compared to the previous year.
“Considering the growth outlook for the travel traffic and the economy worldwide, as well as the positive trends underlying our business, we are confident that Amadeus will continue to show healthy growth in 2018”, commented Luis Maroto.
To learn more about today’s results please take a look at our 2017 financial results 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.