Amadeus H1 2010 results – bitesize summary

Amadeus released its H1 2010 results this morning. A summary is as follows:

• Net revenue – Euro 1,379.3 million (up 11.9% from Euro 1,232.6 million y/y).
• EBITDA – Euro 556.7 million (up 19.9% from Euro 464.2 million y/y).
• Adjusted profit – Euro 246.8 million (up 38% from Euro 178.8 million y/y).

Divisions:

• GDS revenue – Euro 1,037.0 million (up 9.8% from Euro 944.9 million y/y).
• IT revenue – Euro 299.9 million (up 20.9% from Euro 248.0 million y/y).
• Opodo revenue – Euro 53.7 million (up 5.8% from Euro 50.8 million y/y).

David Jones, president and CEO of Amadeus, says:

“These results are underpinned by an encouraging growth in distribution bookings compared with the same period last year, coupled with the continuing evolution of our IT business.

“Our transaction-based model is both robust and profitable, and has shown that it can quickly benefit from a recovery in travel worldwide. We look forward to the remainder of the year with confidence.”

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