Amadeus Q1 2010 results – bitesize summary

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.”

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