Amadeus today announced its financial results for the full year 2016. We achieved an adjusted profit of €911.0 million for the full year of 2016, which represents growth of 21.2% compared to 2015. This growth was supported by an increase of 14.3% in revenue, to €4,472.9 million, and 16.0% in EBITDA to €1,700.1 million.
“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”, commented Luis Maroto, President & CEO of Amadeus.
“Our Distribution business maintained its strong performance and improved its competitive position by 0.8 percentage points to 43.2%. 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”, said Luis Maroto.
Full Article: Amadeus IT Group
Source : Amadeus IT Group