Amadeus maintains growth with strong 2015

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Amadeus maintains growth with strong 2015

Amadeus IT Holding, S.A., a leading technology partner for the global travel industry, reports year-on-year financial and operating results for the full year of 2015 (twelve months ended December 31, 2015). Adjusted profit for the period grew 10.4%, to €751.8 million supported by a revenue increase of 14.5%, to €3,912.7 million and EBITDA growth of 12.2%, to €1,465.4 million.

Luis Maroto, President & CEO of Amadeus, commented:

“Amadeus enjoyed a highly successful 2015 with strong operational and financial performances. We remained highly focused on technology and deployed a consistent strategy of investment in 2015 to support our long-term growth and profitability goals.

“Both our Distribution and IT Solutions businesses delivered increases in revenues. Revenue growth in Distribution of 11.5% was underpinned by growth in North America and Asia-Pacific. In IT Solutions, revenue growth was 22.1%, driven by the continued migration of large carriers in Asia-Pacific, as well as upselling and contribution from new areas such as Airport IT and Payments.

“Despite recent economic concerns we are positive for 2016 based upon the expansion of our offering to travel providers, the continuous improvement of our competitive position[2], the migration of additional carriers to the Altéa platform, the growth of New Businesses, and our strengthened position in the low-cost carrier and hybrid segment with the addition of Navitaire.”

Financial highlights for the full year

Consolidated net financial debt stood at €1,611.6 million at December 31, 2015, representing 1.09x the ratio of covenant net debt to the last twelve months’ covenant EBITDA (an estimated 1.56x proforma for our Navitaire acquisition).

In November Amadeus issued a €500 million bond – via a Euro Medium Term Note Programme (EMTN) – with a maturity of six years, an annual coupon of 1.625%, and an issue price of 99.260% of its nominal value. The proceeds of the issue were used to partially finance the acquisition of Navitaire.

Fluctuations in foreign exchange rates compared to 2014 contributed a positive foreign exchange impact on the revenue and EBITDA of Amadeus during 2015; conversely, the same impact reduced the EBITDA margin.

In December the Board of Directors proposed a 50% pay-out ratio for the year of 2015 (the maximum percentage within the approved range). At the General Shareholders Meeting in June the Board of Directors will submit for approval a final gross dividend of €0.775 per share from the 2015 reported profit, representing an increase of 10.7%on the previous year. An interim gross dividend of €0.34 per share was paid in January 2016.

Source = Amadeus
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