Amadeus reports net profits of US$100mn in Q4

- Monday, February 28, 2011

Amadeus reports net profits of US$100mn in Q4

Amadeus IT Holding - the parent of Spanish travel and tourism platform supplier Amadeus Group - saw adjusted Q4 net profits grow 2.1% year-over-year to 72.8mn euros (US$100mn), according to financial results released by the company.

Total revenues for the company during Q4 grew 6% year-over-year, from 594mn euros to 630mn euros.

Amadeus reported adjusted net profits for full 2010 of 427mn euros, representing 24.3% growth compared with 344mn euros in 2009. Yearly revenues expanded 10.6% from 2.4bn euros in 2009, to 2.68bn euros in 2010.

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Total billable travel transactions processed reached 850mn euros in 2010, up 25.6% from 677mn euros in 2009. Amadeus also maintained its leading global market share of travel agency air bookings during the year, at 36.7% compared with 36.5% in 2009.

According to Amadeus president and CEO Luis Maroto, the company's transaction-based model allowed it to benefit from improvement in the global travel industry during 2010. For 2011, Maroto said the company will aim to reinforce its leading market position in both its distribution and IT solutions businesses.

Amadeus highlighted activity for the quarter, including an agreement to integrate car booking tool Car Plus HTML on regional online travel agency Despegar.com's websites. Other regional highlights included contracts signed with Avianca-Taca airlines.

Use this link to view the full results.