Amadeus.com
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Amadeus
Press Release
Manager Corporate Communications
Amadeus’ financial performance was positive in the first six months of the year. This was supported by strong operating performances in our businesses and the consolidation effect of Navitaire.
1. Passengers boarded (PB): actual passengers boarded onto flights operated by airlines using at least Amadeus Altéa Reservation and Inventory modules or Navitaire’s New Skies solution.
2. Competitive position is measured as our TA air bookings in relation to the TA air booking industry, defined as the total volume of travel agency air bookings processed by the global Central Reservation System (CRS). Excludes air bookings made directly through in-house airline systems or single country operators, the latter primarily in China, Japan and Russia.
Financial highlights for the first half of the year
Business highlights for the first half of the year
|
Amadeus TA air bookings (figures in million) |
||||
Jan-Jun 2017 |
% of Total |
Jan-Jun 2016 |
% of Total |
% Change |
|
|
|
|
|
|
|
Western Europe |
109.5 |
37.1% |
107.0 |
38.3% |
2.4% |
Asia & Pacific |
54.7 |
18.5% |
49.7 |
17.8% |
10.0% |
North America |
52.5 |
17.8% |
49.1 |
17.6% |
6.9% |
Middle East and Africa |
35.8 |
12.1% |
34.2 |
12.3% |
4.6% |
Central, Eastern and Southern Europe |
23.7 |
8.0% |
22.7 |
8.1% |
4.5% |
Latin America |
18.9 |
6.4% |
16.5 |
5.9% |
14.7% |
Total TA air bookings |
295.2 |
100.0% |
279.3 |
100.0% |
5.7% |
|
Total passengers boarded (figures in million) |
||||
Jan-Jun 2017 |
% of Total |
Jan-Jun 2016 |
% of Total |
% Change |
|
Western Europe |
286.3 |
38.0% |
252.5 |
40.2% |
13.4% |
Asia & Pacific |
235.8 |
31.3% |
199.3 |
31.7% |
18.4% |
Latin America |
71.7 |
9.5% |
61.4 |
9.8% |
16.9% |
Middle East and Africa |
61.2 |
8.1% |
56.7 |
9.0% |
8.0% |
North America |
58.8 |
7.8% |
28.8 |
4.6% |
104.3% |
Central, Eastern and Southern Europe |
39.5 |
5.2% |
30.2 |
4.8% |
30.8% |
Total passengers boarded (1) |
753.4 |
100.0% |
628.7 |
100.0% |
19.8% |
1. Navitaire New Skies Passengers Boarded for the first half of 2016 were restated retroactively in our September YTD 2016 results, adding 6.3 million Passengers Boarded in Q1 2016 (no impact on revenue).
Summary of operating and financial information
|
Summary of KPI ( figures in million euros) |
||
Jan-Jun 2017 |
Jan-Jun 2016 |
% Change |
|
|
|
|
|
Operating KPI |
|
|
|
TA air competitive position (1) |
43.6% |
43.2% |
0.5 p.p. |
TA air bookings (m) |
295.2 |
279.3 |
5.7% |
Non air bookings (m) |
33.2 |
31.2 |
6.3% |
Total bookings (m) |
328.4 |
310.5 |
5.8% |
Passengers boarded (m) (2) |
753.4 |
628.7 |
19.8% |
|
|
|
|
Financial results |
|
|
|
Distribution Revenue |
1,635.5 |
1,520.5 |
7.6% |
IT Solutions Revenue |
855.2 |
754.9 |
13.3% |
Revenue |
2,490.7 |
2,275.5 |
9.5% |
Distribution Contribution |
707.5 |
677.2 |
4.5% |
IT Solutions Contribution |
588.5 |
499.3 |
17.9% |
Contribution |
1,296.0 |
1,176.5 |
10.2% |
|
|
|
|
EBITDA |
998.9 |
907.1 |
10.1% |
EBITDA margin (%) |
40.1% |
39.9% |
0.2 p.p. |
|
|
|
|
Adjusted profit (3) |
574.0 |
494.5 |
16.1% |
Adjusted EPS (euros) (4) |
1.31 |
1.13 |
15.9% |
|
|
|
|
Cash flow |
|
|
|
Capital expenditure |
290.8 |
288.4 |
0.8% |
Free cash-flow (5) |
449.1 |
417.3 |
7.6% |
|
|
|
|
|
30/06/2017 |
31/12/2016 |
% Change |
Indebtedness (6) |
|
|
|
Covenant Net Financial Debt |
1,975.1 |
1,957.5 |
0.9% |
Covenant Net Financial Debt / LTM Covenant EBITDA |
1.10x |
1.14x |
|
1. Competitive position is measured as our TA air bookings in relation to the TA air booking industry, defined as the total volume of travel agency air bookings processed by the global Central Reservation System (CRS). Excludes air bookings made directly through in-house airline systems or single country operators, the latter primarily in China, Japan and Russia.
2. Navitaire New Skies passengers boarded for the first half of 2016 were restated retroactively in our September YTD 2016 results, adding 6.3 million passengers boarded in H1 2016 (no impact on revenue).
3. Excluding after-tax impact of the following items: (i) accounting effects derived from PPA exercises and impairment losses, (ii) non-operating exchange gains (losses) and (iii) other non-recurring items.
4. EPS corresponding to the Adjusted profit attributable to the parent company. Calculated based on weighted average outstanding shares of the period.
5. Calculated as EBITDA minus capital expenditure plus changes in our operating working capital minus taxes paid minus interests and financial fees paid.
6. Based on the definition included in the senior credit agreement covenants.
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