Friday, February 23, 2024

Amadeus gear up for further gains in 2023

Amadeus hit revenue of €4.5 billion in 2022 with CEO Luis Maroto hailing a strong year for the technology and distribution company, said a report in Phocuswire.com.

Air distribution revenue in 2022 was just over €2 billion, up 102 per cent on 2021 and 73 per cent on 2019 revenue. Air IT solutions revenue was €1.6 billion, up 46 per cent versus 2021’s figure and representing 86 per cent of 2019 revenue.

Hospitality and other solutions revenue increased 44 per cent to €773 million year on year and represented 96 per cent of 2019 revenue.

In the fourth quarter, the company reported revenue of just over €1 billion, up 44 per cent on 2021 but still lagging 2019’s performance. EBITDA was €398 million, up 80 per cent year on year, while adjusted profit was €181 million for Q4, an increase of 373 per cent on Q4 2021 but still down 35 per cent on 2019’s figure.

The air distribution business of Amadeus reported revenue of €537 million in Q4 versus €344 in Q4 2021 while Air IT revenue rose to €410 million compared to €306 million year-on-year, and hospitality and other solutions reported revenue of €221 million versus €160 million year-on-year.

Maroto says: “2022 was a strong year for Amadeus. Global air traffic continued to recover, and we had important customer wins and market share gains during the year. We remained highly focused on our investment plans, particularly to support customer implementations and advance in key strategic areas. Our financial performance strengthened considerably. Looking ahead, we are optimistic about the future of the travel industry and the opportunity for Amadeus. Into 2023, as volumes recover, our financial performance is expected to advance further.”

Commenting on NDC bookings share in 2022 during an analysts call, Maroto says it’s “a very small percentage of our bookings” and that while it will increase in 2023 it’s from a small base adding that it’s an “ongoing project but it will take years.”

He also commented on the partnership to develop a new airline retail offer between Amadeus and Finnair saying that it is “an evolution of current technology moving more to offer management. It’s a long term project on which we have embarked. It will evolve the current way of doing things like ticketing and PNR.”

- Advertisement -spot_img

Popular Categories

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Posts

Popular Posts

- Advertisement -spot_img

Related News

Must read