Profits up at Amadeus
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Amadeus has posted a 5% increase in adjusted profit at EUR176.3 million (USD230m) for the first quarter of the year compared to Q1 2012.
During the three months up to 31 March 2013 the technology firm saw revenue rise 4% to EUR795m and EBITDA 5.3% to EUR323.4m.
The company increased its market share of global travel agency air bookings by 1.6% to a 39.8% share, with the number of bookings up 2.9% to 119.3m.
“The markets we operate in continue to be highly challenging, but our strong business model and unrivalled product portfolio continue to allow us to make good progress. Our transaction-based business model of recurring revenues has proven to be resilient while our global customer footprint remains a strength,” said Luis Maroto, president and CEO of Amadeus.
“Growth was driven by both our Distribution and IT Solutions businesses continuing their track record of consistent growth in revenues, which in turn was supported by equally consistent improved group operational performance – whether you measure by absolute figures, market growth or market share,” he added.