Amadeus announces its first quarterly benefits since the pandemic

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Travel2Latam
Travel2Latam
https://en.travel2latam.com/nota/71068-amadeus-announces-its-first-quarterly-benefits-since-the-pandemic
Amadeus announces its first quarterly benefits since the pandemic
Luis Maroto, Amadeus
Source: Twitter @AmadeusLatam
November 10, 2021

Luis Maroto, CEO of the firm commented: "During Q3 we continued to see improvements in volumes and positive trends, both in air reservations and in embarked passengers, in all regions"


Adjusted profit1 stood at 23.8 million euros, 92.6% less than in the same period in 2019. This figure represents an increase of 14.5 percentage points compared to the growth rate in the second quarter.
Available cash flow2 amounted to € 83.6 million, or € 103.5 million excluding costs of running the cost savings program (€ 56.5 million in the nine-month period, excluding expenses of execution assumed).
As of September 30, 2021, the net financial debt3 amounted to 3,173.9 million euros.

Compared to the same period in 2019:

  • In Air Distribution, reservations through travel agencies decreased 58.5%, which represents an improvement of 9.1 points compared to the second quarter.
  • In Technological Solutions for the airline sector, our embarked passengers decreased by 50.7%, which represents an increase of 17.0 points with respect to the growth rate of the previous quarter.
  • Revenues contracted 47.3%, to 739.1 million euros, and improved by 8.8 points the figure for the second quarter.
  • EBITDA4 fell 63.5%, 11.8 points more than in the second quarter.

Luis Maroto, CEO of Amadeus, commented: "During the third quarter, we continued to see improvements in volumes and positive trends, both in air bookings and passengers boarded, in all regions. This trend extends to our segment of Hotels, where we recorded improved results across the entire portfolio of solutions, especially in revenue lines that depend on transactions, such as bookings and multimedia clicks. "
"As a result, we posted our first quarterly profit since the pandemic was declared, of 23.8 million euros. Our available cash flow also closed positively, with inflows of 83.6 million euros during the quarter."
"Looking ahead to the rest of the year, we are confident that our commercial dynamism, together with the upward trend in travel volumes, will allow us to continue moving towards recovery."

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