Amadeus reports increased first quarter profits of €245.6 million

Amadeus reports increased first quarter profits of €245.6 million

Amadeus has reported profits of €245.6 million euros for the first quarter of 2016, up from €209.9 million euros in 2015.

The 17% increase in adjusted profits has been supported by revenue growth of 13%, to €1,120 million.

Air travel agency bookings increased by 2.4%, to 141.2 million – outperforming GDS industry growth of 0.8%.

President and chief executive, Luis Maroto, said: “We have experienced a strong start to the year, delivering solid financial results and various successful business announcements in both Distribution and IT Solutions.

“In Distribution, we continued to grow our business steadily and revenues increased 4.2% in the quarter; whilst in IT Solutions, revenue grew at a pace of 37.6% in the first quarter of 2016, driven by underlying strong double-digit growth, combined with the consolidation of Navitaire and the 2015 acquisitions

“We are focused on technology as a means to always serve our customers better and to support long-term growth. We look forward to the rest of the year with confidence.”

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