Amadeus today announces its financial results for the first half of 2017. We achieved adjusted profit of €574.0 million and EBITDA of €998.9 million. This represents growth of 16.1% and 10.1% respectively. These positive growth figures were supported by strong operating performances in our businesses and the consolidation effect of Navitaire. Revenue increased 9.5%, to €2,490.7 million, while free cash flow grew 7.6% to €449.1 million.
“Our business performed well during the first semester and completed important milestones successfully, such as the migration of Southwest Airlines’ domestic flights to Altéa”, explained Luis Maroto, President & CEO of Amadeus.
The positive performance of our Distribution segment was supported by 5.7% growth in travel agency air bookings, to 295.2 million, which outperformed GDS industry growth of 4.3%. Air bookings increased across all regions, with Latin America and Asia and Pacific as our fastest-growing regions, increasing 14.7% and 10.0% respectively. These steady growth in air bookings contributed to an increase in our travel agency air competitive position of 0.5 percentage points, to 43.6%.
“In IT Solutions, we had important migrations that have contributed to the expansion of our international footprint. In the first half of the year 56.8% of our passengers boarded were generated outside of Europe”, commented Luis Maroto.
Passengers boarded increased 19.8%, to a total of 753.4 million. Growth in passengers boarded was supported by the consolidation of Navitaire New Skies passengers boarded (consolidated since late January 2016), as well as 8.1% organic growth, new carrier implementations on our Passenger Service Systems (PSS – Altéa or New Skies) and airlines implemented in 2016.
Our new businesses also continued launching innovative solutions, such as the Amadeus Airport Pay in our Payments business.
To learn more about today’s results please take a look at our financial results H1 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.