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HomeLatest NewsAmadeus recovers profits after two years of pandemic: earns 664 million

Amadeus recovers profits after two years of pandemic: earns 664 million

Date: March 24, 2023 Time: 22:50:09

The technological Amadeus, which supports the main world airlines, resumes sending profits and will once again offer dividends to its shareholders after earning 664 million euros in 2022, once the pandemic has ended and the recovery of the turundial has been consolidated at the municipal level . In 2021, the company’s results were negative and they lost a value of 44.7 million, as a result of the bad behavior of the tourism market.

On the other hand, the recovery in air traffic and the improvement in commercial activity boosted the group’s total revenue in 2022, which amounted to 4,485.9 million euros. They are 68% higher than the previous year, although they are still almost 20% below those of 2019. Ebitda grew 161% year-on-year, to 1,640.4 million, although it is also still lower than that recorded three years earlier. Adjusted profit amounts to 742 million euros.

Focused on supporting the airline business, Amadeus lost doubling the revenue of its air distribution area to 2,147.8 million euros; also improving by 73% what was entered in 2019. The area of ​​Technological Solutions for the airline industry boarded more than 1,539 million passengers, 81% of those recorded in 2021 and 77% of those in 2019. Its income, in changed, they grew 46% compared to the previous year, amounting to 1,565.4 million due to the rise in prices, although they remained 14% below those obtained in the last year of pre-pandemic normality.

At the end of the year, the net financial debt rose to 2,284 million. It is 1.4 times the Ebitda of the last 12 months, but it falls within the range set as a target, which placed it between 1 and 1.5 times. The company highlights a greater generation of free cash flow as what has allowed them to reduce the degree of financial leverage.

The CEO of Amadeus, Luis Maroto, who earned 2.88 million for his cargo in 2022, assures in the note distributed by the company that, after achieving significant commercial successes and gaining market share, “we continue to be very focused on our plans investment, especially to support the solutions implemented in clients and advance in strategic areas of the first order”.

In air distribution, reservations grew 92% year-on-year to 396.3 million, the result of the ‘champagne effect’ that has led consumers to intensify their trips taking advantage of the global reopening of borders, although they still stand at 31.7%. below those of 2019. The region with the best performance was North America, which now holds the leadership of the business worldwide, representing 30.8% of total reserves. Booking revenue grew in 2022 despite lower volume.

The Hotels and other solutions division improved its income by 43.5% compared to the previous year and was close to the data for 2019, with 772.7 million recorded at the end of the year. Amadeus increased performance improvements as the quarters progressed, with revenue growth across all business lines, both in hotel technology—where it has deployed new solutions and expanded transactions—and in revenue from media, enterprise distribution, and intelligence. In addition, the evolution of exchange rates has benefited these areas.

Amadeus will also resume shareholder remuneration from this year, while approving to its shareholders a total dividend of 0.74 euros per share, which is equivalent to 50% of the profit for the consolidated period. In total, it will distribute 333.4 million euros charged to the results of the 2022 financial year.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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