Amadeus IT Group S.A achieved an adjusted profit of EUR 886.6 million in the first nine months of 2018, representing a 5.1% increase compared to the same period last year.
Amadeus revenue rose 4.6% to EUR 3,683.8 million, while EBITDA increased by 8.6% to EUR 1,588.0 million.
As in the first half of the year, both earnings and EBITDA continued to be negatively affected by the USD / EUR exchange rate fluctuation, although to a lesser extent than in the first two quarters of the year.
In the first three quarters of the year, revenue increased by 7.7% excluding forex effects (mainly based on the USD / EUR exchange rate change over last year).
Over nine months, EBITDA excluding IFRS 162 and foreign exchange effects (caused by the fluctuation of several currencies over the reference period) increased at a one-digit rate, resulting in a lower EBITDA increase.
Luis Maroto, President and CEO of Amadeus, commented:
"The strength and resilience of our core businesses once again contributed to Amadeus's good financial performance. In the Distribution area, we have signed or renewed agreements with 11 carriers, including Aerolíneas Argentinas, Norwegian and Porter Airlines, with the number rising to 35 for the first nine months of the year. "
"We have also achieved important milestones in our NDC (New Distribution Capability) strategy, alongside other players who have joined our NDC-X program throughout the quarter, both on the Distribution and IT side. We have also increased our customer base for the Airline IT segment with operators such as Bangkok Airways, a company that has opted for the complete Altéa Suite suite. In terms of expanding existing collaborations, Southwest Airlines has decided to migrate to the entire Amadeus Sky Suite by Optym package and expanded our partnership with Finnair, which contracted both Amadeus Network Revenue Management and Amadeus Passenger Recovery. "
"In the Hospitality area, the implementation of the Guest Reservation System (GRS) for InterContinental Hotels Group is almost complete, with over 95% of hotels already migrated. This implementation, coupled with the acquisition of TravelClick announced in August, will be an important factor in expanding our hospitality business in the near future. "
"We remain optimistic and we are sure we will continue this positive growth trend for the rest of the year."