Amadeus announces 1Q results
Revenue decreased 27.3%, EBITDA decreased 41.3% and Adjusted profit decreased 57.5%
Revenues decreased by 27.3%, to 1,021.7 million euros.
EBITDA decreased by 41.3%, to 349.4 million euros.
The adjusted profit fell by 57.5%, to 141.8 million euros.
- In the distribution business, the number of reservations made through travel agencies decreased by 47.7% to 85.0 million.
- In the technology solutions business, the volume of passengers boarded decreased 12.0%, to a total of 383.9 million.
- Free cash flow2 increased by 3%, to 289.8 million euros.
Luis Maroto, CEO of Amadeus, commented: "In the first quarter of the year, the travel sector was practically paralyzed due to the spread of COVID-19 throughout the world, which affected
negatively to our air reservations and our volumes of passengers boarded. Consequently, income, EBITDA and adjusted profit decreased significantly during the quarter. This situation interrupted the favorable financial results that we had registered at the beginning of 2020, with positive growth rates in all our businesses in January".
"We have taken a number of important measures to strengthen our financial position and to shore up our business, such as the general efficiency plan, the cancellation of the complementary dividend and the strengthening of our liquidity. Beyond these measures, we are actively working with our clients to support them in these difficult times".