Amadeus makes further progress towards recovery in Q3: Travel Weekly

Amadeus hit revenue of $1.19 billion for the three months ended Sept. 30.

The figure is 86.8% of its third quarter 2019 revenue figure, according to the company, and compares to $733 million for the same quarter in 2021.

EBITDA was $446 million compared to $205 million for the third quarter of 2021 while adjusted profit was reported as $218 million, compared to $23.8 million for Q3 2021.

Air distribution revenue was $569 million, 81% of Q3 revenue in 2019 and up from $298 million year-over-year.

Air distribution bookings at almost 100 million were 72% of Q3 2019 bookings helped by a strong performance from North America.

The company highlighted the challenging start to the quarter in July because of flight cancellations and said the impact reduced in August and September.

Bookings from Asia Pacific showed the most improvement.

Air IT solutions revenue was $437 million, up from $293 million year-over-year and representing 91% of Q3 2019 revenue.

Amadeus says all regions saw improvement with the exception of Latin America.

Revenue for hospitality and other solutions came in at $203 million, up from $143 million year-over-year.

“Amadeus continued to advance during the third quarter, with solid operating and financial performances across segments. Our revenue, EBITDA and adjusted profit continued to strengthen, supporting strong cash generation. We are pleased to confirm that, based on our progress, we expect to resume shareholder remuneration next year,” said Luis Maroto, president and CEO of Amadeus.

“We continue to monitor the macroeconomic situation, while remaining focused on our investment programs to capture the growth opportunities ahead. Our strong operating performance, solid commercial activity and the ongoing recovery in travel volumes make us confident for the future.”

  • Related: Amadeus reports positive quarter driven by North America recovery

Source: PhocusWire

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