Robust financial growth and strategic wins define the first half of 2024 for Amadeus

In the first six months of 2024, Amadeus continued to see double-digit growth expansion. Their Group Revenue increased by 13.4%, EBITDA grew by 15.0%, Operating Income increased by 18.6%, and Adjusted Profit expanded by 22.0%¹ relative to the previous year. Their financial performance over the first half of the year supported Free Cash Flow generation of €530.3 million, resulting in Net Financial Debt of €2,594.7 million on June 30, 2024, representing 1.15 times the last twelve months’ EBITDA.

Luis Maroto, President & CEO of Amadeus, stated:  “We continued to grow at a doubledigit pace throughout the first half of the year and we remain confident in our outlook for 2024. Amadeus is investing for the future. We are at the forefront of airline retailing transformation and are advancing decisively on NDC to continue to strengthen our position as the leading enabler of indirect airline distribution. Additionally, we were pleased to announce a strategic partnership with world-leading hospitality group Accor, which will implement our next-generation, cloud-based Central Reservation System (ACRS) for its extensive portfolio of properties globally.”

Business Evolution

In Air Distribution, their revenue grew 10.7% in the first half of 2024, driven by growth in volumes and unitary revenue. Our Air Distribution bookings increased by 2.9% in the first half of the year, on the back of a normalization in global air traffic growth. Our volume performance was complemented by a positive 7.6% revenue per booking evolution.

They also continued advancing on their NDC strategy. During the second quarter, Tunisair, EVA Air and Vueling’s NDC content was made available through the Amadeus Travel Platform to travel sellers.

In the first half of 2024, Air IT Solutions revenue grew by 17.6%, supported by their passenger’s boarded evolution, which increased by 13.9%, driven by global air traffic growth and the positive impact from Amadeus’ 2023/24 customer implementations. These implementations include Etihad Airways, ITA Airways, Hawaiian Airlines, Bamboo Airways and Allegiant Air in 2023, as well as Vietnam Airlines in the second quarter of 2024.

During the second quarter, British Airways, a recently announced Nevio customer, signed for Amadeus Network Revenue Management.

Regarding Airport IT, during the second quarter, they continued to expand their customer base and had several upsells from our Airport IT offering. We signed with Malaysia Airports to deliver our Airport Passenger Processing Solutions to six airports in the country.

In the first half of 2024, Hospitality & Other Solutions revenue increased by 13.2%. Both Hospitality, which generates the majority of the revenues in this segment, and Payments, delivered double-digit growth rates, supported by new customer implementations and volume expansion.

Regarding Hospitality, they announced that Accor, a global hospitality group, will implement ACRS for its broad range of properties worldwide.  In Payments, Thai Airways has signed for the Xchange Payment Platform from  Outpayce, and Wakanow Group, one of Africa’s largest travel sellers, has signed a new partnership with Outpayce, embracing virtual payments with Outpayce B2B Wallet.