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In the first six months of 2024, Amadeus reported impressive double-digit growth across multiple financial metrics. Group revenue surged by 13.4%, while EBITDA saw a robust increase of 15.0%. Operating income climbed by 18.6%, and adjusted profit experienced a remarkable rise of 22.0% compared to the previous year.
This strong financial performance during the first half of the year enabled the generation of €530.3 million in free cash flow. As of June 30, 2024, Amadeus’s net financial debt stood at €2,594.7 million, equating to 1.15 times the EBITDA of the last twelve months.
Luis Maroto, President & CEO of Amadeus, stated “We continued to grow at a double-digit pace throughout the first half of the year and we remain confident in our outlook for 2024. Amadeus is investing for the future. We are at the forefront of airline retailing transformation and are advancing decisively on NDC to continue to strengthen our position as the leading enabler of indirect airline distribution. Additionally, we were pleased to announce a strategic partnership with world-leading hospitality group Accor, which will implement our next-generation, cloud-based Central Reservation System (ACRS) for its extensive portfolio of properties globally.”
Business Evolution: Amadeus Reports Robust Growth Across Key Segments in H1 2024
In the first half of 2024, Amadeus experienced notable growth across its business segments, reflecting the company’s strategic advancements and strong market demand.
Air Distribution
Revenue from Air Distribution grew by 10.7%, fueled by increases in both volumes and unitary revenue. Air Distribution bookings rose by 2.9%, mirroring the normalization of global air traffic growth. Additionally, revenue per booking saw a positive evolution of 7.6%.
The company also made significant strides in its New Distribution Capability (NDC) strategy. During the second quarter, NDC content from Tunisair, EVA Air, and Vueling was integrated into the Amadeus Travel Platform, expanding options for travel sellers.
Air IT Solutions
Air IT Solutions revenue surged by 17.6%, driven by a 13.9% increase in passengers boarded, supported by global air traffic growth and successful customer implementations from 2023 and early 2024. Notable implementations included Etihad Airways, ITA Airways, Hawaiian Airlines, Bamboo Airways, and Allegiant Air in 2023, with Vietnam Airlines added in the second quarter of 2024.
Additionally, British Airways, a new Nevio customer, signed on for Amadeus Network Revenue Management during the second quarter.
Airport IT
Amadeus continued to expand its Airport IT customer base in the second quarter, securing several upsells. Malaysia Airports signed an agreement to implement Amadeus Airport Passenger Processing Solutions across six of its airports, enhancing their operational efficiency.
Hospitality & Other Solutions
Revenue in the Hospitality & Other Solutions segment increased by 13.2% in the first half of 2024. This growth was driven by both Hospitality and Payments, each delivering double-digit growth rates thanks to new customer implementations and volume expansion.
In the Hospitality sector, Amadeus announced that Accor, a global hospitality group, will adopt ACRS across its extensive range of properties worldwide.
In Payments, Thai Airways selected the Xchange Payment Platform from Outpayce, and Wakanow Group, one of Africa’s largest travel sellers, entered into a new partnership with Outpayce, embracing virtual payments through the Outpayce B2B Wallet.
Overall, Amadeus’s strategic initiatives and market responsiveness have underpinned robust growth and expanded capabilities across its key business segments in the first half of 2024.
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