Amadeus sees double-digit growth in 2024 first half

Madrid : Amadeus continued to witness double-digit growth in the first half of 2024, as per reports.

The group's revenue increased by 13.4 per cent, EBITDA grew by 15.0 per cent, Operating Income increased by 18.6 per cent and Adjusted Profit expanded by 22.0 per cent, relative to the previous year.

Its financial performance over the first half of the year supported Free Cash Flow generation of EUR 530.3 million, resulting in Net Financial Debt of EUR 2,594.7 million on June 30, 2024, representing 1.15 times the last twelve months' EBITDA.

Abou the development, Luis Maroto, President and CEO, Amadeus, said, "We remain confident in our outlook for 2024…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 added.

In Air Distribution, the group's revenue grew 10.7 per cent in the first half of 2024, driven by growth in volumes and unitary revenue. Their Air Distribution bookings increased by 2.9 per cent in the first half of the year, on the back of a normalisation in global air traffic growth. Its volume performance was complemented by a positive 7.6 per cent revenue per booking evolution.

In the first half of 2024, Hospitality and Other Solutions revenue increased by 13.2 per cent. 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.