Amadeus released its Q1 2010 results this morning. A summary is as follows:
- Total revenues - Euro 705.3 million, up 13.4% y/y.
- Adjusted net income - Euro 128.9 million, up 58.1% y/y.
- Adjusted EBITDA - Euro 280.3 million, up 26.1% y/y.
IT group:
- Revenues - Euro 146.8 million, up 17.9% y/y.
GDS:
- Revenues - Euro 538.2 million, up 12.4% y/y.
President and chief executive of Amadeus, David Jones, says:
“Our year-on-year growth of total revenues by 13.4%, increased adjusted EBITDA of 26.1% and substantial growth of net income by 58.1% to reach €128.9m is further proof of the strength and profitability of Amadeus’ transaction-based business model.
"We are encouraged by the recent industry-wide increase in global air traffic and travel bookings, and this is a strong indicator of our growth potential as the global travel industry continues to recover.”