Amadeus released its 2009 full-year results this morning. A summary is as follows:
Chief executive David Jones says:
"In 2009, our global data centre in Germany processed 413 million travel agency bookings and 238 million passengers boarded through our Altéa systems.
"Both elements of our business have good exposure to Europe and regions where travel volumes are expected to show higher future growth: Central and South America, Asia-Pacific and Middle East & Africa.
"During this period, the company has invested and created value for both our customers and shareholders.
"Successful investments and organic growth are at the heart of Amadeus’ performance, providing strong cash flow generation that has also been applied to deleveraging the business in recent years resulting in net debt[7] amounting to just 3.6 times EBITDA.
"The proceeds of any future IPO will enhance our ability to invest in the business and drive competitive advantage."
- Revenue of Euro 2,461 million in 2009, down from Euro 2,505 million in 2008.
- Pre-tax operating cash flow of Euro 779 million in 2009, up from Euro 697 million in 2008.
- EBITDA of Euro 894 million in 2009, up from Euro 874 million in 2008.
IPO:
- Amadeus intends to list on the Spanish Stock Exchange in Madrid during the first half of 2010, subject to market conditions.
R&D:
- Investment of Euro 257 million in 2009, up from Euro 236 million in 2008.
IT Solutions division:
- Revenue of Euro 548 million in 2009, up from Euro 500 million in 2008.
Chief executive David Jones says:
"In 2009, our global data centre in Germany processed 413 million travel agency bookings and 238 million passengers boarded through our Altéa systems.
"Both elements of our business have good exposure to Europe and regions where travel volumes are expected to show higher future growth: Central and South America, Asia-Pacific and Middle East & Africa.
"During this period, the company has invested and created value for both our customers and shareholders.
"Successful investments and organic growth are at the heart of Amadeus’ performance, providing strong cash flow generation that has also been applied to deleveraging the business in recent years resulting in net debt amounting to just 3.6 times EBITDA.
"The proceeds of any future IPO will enhance our ability to invest in the business and drive competitive advantage."