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Travel tech giant Amadeus has maintained its positive growth trend in the first six months of 2019, thanks to the solid operating performances of its distribution and IT Solutions businesses.
The company also benefited from the consolidation of TravelClick and a positive foreign exchange impact.
Over the first half of the year, EBITDA expanded 10.7 per cent, to €1,194 million, when compared to the same period of last year.
Adjusted profit increased 9.9 per cent to €667 million, compared to the same period of 2018.
Luis Maroto, chief executive of Amadeus, commented: “The resilience of our businesses has allowed us to maintain a strong growth trend in the first half of the year despite a weaker travel industry.
“Amadeus’ IT Solutions and Distribution businesses continue to grow, thanks to an expanding customer base.
“Additionally, we are progressing with our diversification strategy following the acquisition of TravelClick and ICM, thereby enhancing our presence and reach in the hospitality and airport IT segments.
“With our global presence and our strong focus on investments in technology, we should maintain this positive growth trend”.
The travel agency air booking industry declined 1.4 per cent in the second quarter of the year, due to fewer working days compared to the same period of 2018 (partly caused by Easter timing effect) and the bankruptcy of Jet Airways.
Excluding India and the working days impact, the travel agency air booking industry grew modestly in the quarter.
In the first half of the year, the industry decreased 0.7 per cent (during quarter one of 2018 it had registered a nil growth).
North America was the fastest growing region.
In turn, western Europe, Asia Pacific and Middle East-Africa showed a contraction, impacted by strikes, macroeconomic developments and geopolitical events (particularly affecting markets such as Germany, United Kingdom, Scandinavia and Australia).
Source: breakingtravelnews.com