Amadeus earnings increase 13.4% in Q2

- Thursday, August 4, 2011

Amadeus earnings increase 13.4% in Q2

Amadeus IT Holding - the parent of Spanish travel and tourism platform supplier Amadeus Group - saw a 13.4% year-on-year boost in its Q2 bottom line to 126mn euros (US$180mn), the company announced in a release.

Revenues from continued operations increased 5% to 685mn euros.

For the first half of the year, profits were up 12.2% to 264mn euros compared to the same period last year, while revenues increased 3.9% to 1.39bn euros.

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During the second quarter, Amadeus reprogrammed debt with senior unsecured financing of 2.7bn euros. Amadeus' consolidated net financial debt on June 30 was 1.9bn euros, down 26.3% year-over-year.

The distribution business reported a 4.1% revenue increase during the first half, to 1.08bn euros. The IT solutions business also saw a 3.2% revenue increase during the period, to 309mn euros.

Amadeus said that during the six months ended June 30, it held on to the top market position for airline reservations, with a total 37.2% of worldwide reservations made on its platform. The number of passengers handled increased 32.5% to 204mn.

The company signed five contracts with new airlines for the Amadeus Altéa Suite during the period, the statement reads.

Use this link to view the full results.