Amadeus 2016 profit grows by 21%

Amadeus IT Group has joined the crew of profit announcements by announcing its own full year profit for 2016.

The travel industry tech partner has snagged an adjusted profit of €911.0 million (over AU$1.25 billion) for the year, a 21.2 per cent growth compared to 2015.

The growth was also supported by a bump up of over 14 per cent in revenue, and a 16 per cent increase in earnings before tax and interest, which grew to AU$2.341 million.

Amadeus IT Group grew in its distrubtion business, thanks to total travel agency air bookings jumping almost six per cent to over AU$73 million, while in the IT Solutions business, passengers boarded grew a massive 85 per cent.

Luis Maroto, President & CEO of Amadeus, commented, “The strength of our core businesses, our diversification strategy and the positive contribution of recent acquisitions such as Navitaire drove Amadeus’ successful financial performance in 2016.

“Our Distribution business maintained its strong performance and improved its competitive position by 0.8 percentage points to 43.2 per cent.

“During 2016, we signed or renewed content agreements with 46 carriers, including key industry players such as easyJet, Emirates and LATAM Airlines Group. Revenue growth was also supported by our customers’ continued interest in our solutions. KAYAK, the world’s leading travel search engine, implemented Amadeus Master Pricer with Instant Search technology.

“Growth in our IT Solutions area was supported by the consolidation of Navitaire as well as the migration of large carriers in Asia-Pacific.

“Among the airlines that chose to use Amadeus Altéa Passenger Service Systems and New Skies last year were China Airlines, Swiss International Air Lines, Brussels Airlines and Viva Group. In total, at the end of the year, more than 175 airlines had contracts with one of the two Amadeus Passenger Service Systems.

“In 2016 we have also crossed important milestones in business units such as Airport IT, for example the long-term partnership with Copenhagen Airports.”

“Given the positive trend of new contracts we have seen so far in 2017, we are confident that Amadeus will have a solid financial performance this year, supported by a moderate pick up in global economic growth as predicted by IMF.”

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