Amadeus, a leading global travel technology company, says it has continued to see double-digit growth expansion across mostly all sectors in the first six months of 2024, with overall group revenue soaring 13.4 pc to over EUR 3 billion.
According to a press statement by Amadeus, its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew by 15 pc to EUR to 1,203 million, operating income increased by 18.6 pc to EUR 871.1 million and adjusted profit expanded by 22 pc to EUR 683.4 million relative to the previous year.
Of its total revenues, air distribution contributed EUR 1,506 million, air IT solutions EUR 1,061 million while hospitality and other solutions revenue reached EUR 485.6 million.
The firm says that its financial performance over the first half of the year supported free cash flow generation of EUR 530.3 million. This resulted in net financial debt of EUR 2,594.7 million on June 30, representing 1.15 times the last 12 months’ EBITDA.
“We continued to grow at a double-digit pace throughout the first half of the year and we remain confident in our outlook for 2024. Amadeus is investing for the future,” says Luis Maroto, President and CEO of Amadeus.
“We are at the forefront of airline retailing transformation and are advancing decisively on NDC to continue to strengthen our position as the leading enabler of indirect airline distribution. Additionally, we were pleased to announce a strategic partnership with world-leading hospitality group Accor, which will implement our next-generation, cloud-based Central Reservation System (ACRS) for its extensive portfolio of properties globally,” Maroto adds.
Amadeus says that its air distribution revenue grew 10.7 pc in the first half of 2024, driven by growth in volumes and unitary revenue.
Air distribution bookings increased by 2.9 pc in the first half of the year, on the back of a normalisation in global air traffic growth while volume performance was a positive 7.6 pc revenue per booking evolution.
Amadeus says it is also on track to advancing on its NDC strategy. During the second quarter, Tunisair, EVA Air and Vueling’s NDC content was made available through the Amadeus Travel Platform to travel sellers.
The firm adds that its Air IT Solutions revenue grew by 17.6 pc in the first half of 2024 and passenger’s boarded evolution increased by 13.9 pc, driven by global air traffic growth and the positive impact from Amadeus’ 2023/24 customer implementations.
These implementations include Etihad Airways, ITA Airways, Hawaiian Airlines, Bamboo Airways and Allegiant Air in 2023, as well as Vietnam Airlines in the second quarter of 2024, says the airline.
During the second quarter, British Airways, a recently announced Nevio customer, signed for Amadeus Network Revenue Management.
Regarding Airport IT during the second quarter, Amadeus says it continued to expand customer base and had several upsells from our Airport IT offering.
It also signed with Malaysia Airports to deliver its Airport Passenger Processing Solutions to six airports in the country.
Hospitality and other solutions revenue increased by 13.2 pc in the first half of 2024. Both hospitality, which generates the majority of the revenues in this segment, and payments, delivered double-digit growth rates supported by new customer implementations and volume expansion.
Amadeus has also announced that global hospitality group Accor will implement ACRS for its broad range of properties worldwide.
The firm says that in payments, Thai Airways has signed for the Xchange Payment Platform from Outpayce and Wakanow Group, one of Africa’s largest travel sellers, has signed a new partnership with Outpayce, embracing virtual payments with Outpayce B2B Wallet.