Amadeus announces results for first nine months of 2011

Amadeus IT Holding, S.A. (Amadeus: 'AMS.MC'), parent company of the Amadeus Grouphas announced year-on-year financial and operating results for the year-to-date (nine months ended September 30, 2011). Adjusted profit for the first nine months increased 19.5% to reach 400.6 million EUR. This was backed by a growth in revenue from continuing operations of 3.7% to 2,059.8 million EUR and an improvement in EBITDA from continuing operations of 6.0% to 835.6 million EUR. Excluding the impact of the sales of equity stakes in Vacation.com and Hospitality Group during 2010, and the impact of a change in treatment of certain bookings within IT Solutions, revenue grew by 5.4%2.

Both Distribution and IT Solutions businesses continue strong growth in first nine months and third quarter

Year-on-year highlights for year-to-date (nine months ended September 30, 2011)

Adjusted profit increased 19.5% to €400.6 million
Revenue from continuing operations grew 3.7% to €2,059.8 million, or 5.4% on a comparable basis
EBITDA from continuing operations rose 6.0% to €835.6 million
Net debt decreased by €720.5 million to 1.75x last twelve months EBITDA
Global market share of travel agency air bookings increased by 0.9 percentage points to 37.2%
Total air travel agency bookings increased by 4.8% to 307.7 million
Passengers Boarded (PB) increased by 21.0% to 327.5 million

Madrid, Spain, November 10, 2011 - Amadeus IT Holding, S.A. (Amadeus: AMS.MC), parent company of the Amadeus Group, a leading transaction processor and provider of advanced technology solutions for the global travel and tourism industry, has announced year-on-year financial and operating results for the year-to-date (nine months ended September 30, 2011).

Adjusted profit for the first nine months increased 19.5% to reach €400.6 million. This was backed by a growth in revenue from continuing operations of 3.7% to €2,059.8 million and an improvement in EBITDA from continuing operations of 6.0% to €835.6 million. Excluding the impact of the sales of equity stakes in Vacation.com and Hospitality Group during 2010, and the impact of a change in treatment of certain bookings within IT Solutions, revenue grew by 5.4%2.

The Distribution and IT Solutions businesses both played significant roles in the company's performance during the first nine months of the year. Revenue in the Distribution area increased by 3.9% (4.7% excluding the impact of the sale of Vacation.com), rising to €1,588.4 million. Total bookings, including both air travel agency and non air bookings, increased by 4.6%, up from 338.6 million to 354.1 million. Amadeus also increased its global market share of travel agency air bookings by 0.9 percentage points, maintaining its leadership position with 37.2% of the global market share of travel agency air bookings during the first nine months of 2011.

IT Solutions continued its growth record with an increase in revenue of 3.1% during the first nine months (7.6% excluding the impact of the sale of Hospitality Group and the change in treatment of certain bookings ) to €471.4 million. Passengers Boarded (PB) increased by 21.0% in the same period, rising from 270.6 million to 327.5 million.

The financial performance for the first nine months is backed by strong year-on-year results for the third quarter of the year: Amadeus adjusted profit increased by 36.6%, up from €100.2 million to €136.8 million, total revenues were up by 3.3% (4.6% excluding the impact of the sale of Vacation.com and Hospitality Group) from €649.2 million to €670.8 million, and EBITDA rose by 6.0% from €248.5 million to €263.5 million.

During the third quarter of the year Amadeus successfully issued a €750 million 5-year Euro Bond, as part of its long-term strategy to strengthen its financial structure and diversify its funding sources. Amadeus consolidated net financial debt on September 30, 2011 was €1,850.8 million (based on covenants definition), representing 1.75x last twelve months EBITDA. This figure was down by €720.5 million, or 28.0%, vs. December 2010.