Amadeus reported Q3 2024 financial results. Highlights for the nine months ended September 30, 2024, (relative to the prior year) include:
- Air distribution revenue grew 10 percent, to €2,230.5 million.
- Air IT solutions revenue increased 16.2 percent, to €1,636.2 million.
- Hospitality and other solutions revenue grew 12.9 percent, to €733.9 million.
- Group revenue increased 12.6 percent, to €4,600.6 million.
- EBITDA grew 13.3 percent, to €1,806.3 million.
- Operating income increased 16.9 percent, to €1,314.8 million.
- Adjusted profit increased 17.4 percent, to €1,028.2 million.
- Free cash flow amounted to €975.2 million, a 7.3 percent increase excluding non-recurring tax-related collection.
- Net financial debt was €2,511.0 million on September 30, 2024 (1.09 times last-twelve-month EBITDA).
In the first nine months of 2024, Amadeus grew with profitability, delivering expanding EBITDA and operating income margins. Group revenue increased by 12.6 percent, EBITDA grew 13.3 percent, operating income increased by 16.9 percent, and adjusted profit expanded by 17.4 percent, relative to the prior year. This financial performance over the first nine months of 2024 supported free cash flow generation of €975.2 million, resulting in net financial debt of €2,511.0 million on September 30, 2024, representing 1.09 times the last-twelve-month EBITDA.
Luis Maroto, president and CEO of Amadeus, commented, “We have delivered a high-growth, profitable, and cash-generative evolution in the first nine months of 2024, supported by strong performances across our businesses. Based on our solid financial situation to date and our prospects for the fourth quarter, we reiterate our confidence on the outlook we issued at the beginning of the year. We are confident about the growth opportunities ahead for Amadeus and we are committed to achieving them.”
Over the first nine months of 2024, air distribution revenue increased by 10.0 percent relative to the previous year, supported by booking growth of 3.4 percent and unitary booking revenue expansion of 6.4 percent.
In Air IT Solutions, revenue grew by 16.2 percent, supported by passengers boarded evolution, which increased by 12.0 percent in the nine-month period. This increase was driven by global air traffic growth and the impact of Amadeus’ 2023-2024 customer implementations.
During the third quarter, Amadeus introduced Navitaire Stratos, a retailing portfolio for low-cost and hybrid carriers. This portfolio includes traveler-focused services, reduces costs, and supports flexible partnership integrations.
Also in this quarter, Qatar Airways expanded its partnership with Amadeus by signing for Amadeus Ancillary Dynamic Pricing.
Regarding Airport IT, Amadeus continued to expand our customer base and sold solutions from our Airport IT portfolio to several airport customers such as Groupe ADP.
Over the first nine months of 2024, hospitality and other solutions revenue increased by 12.9 percent. Both hospitality and payments delivered double-digit growth rates over the period, supported by new customer implementations and volume expansion. In hospitality IT, CDS Groupe has renewed and expanded its agreement with Amadeus Hospitality Media and Distribution. Inpayments, Outpayce will tokenize customer card details for a European airline.
