Amadeus hit group revenue of $1.6 billion in the third quarter of 2024, an increase of 11% year over year.
The technology and distribution company reported a 9% increase in air distribution revenue to $781 million while revenue in its air IT solutions increased 14% to $575 million. Revenue for the hospitality and other solutions business increased 12% to $268 million for the quarter.
EBITDA for the group rose 10% to $651 million year over year while profit came in at $369 mil-lion, up from $325 million in Q3 2023.
For the period from January to September 2024, Amadeus reported air distribution revenue up 10% to $2 billion, air IT solutions revenue up 16% to $1.7 billion and hospitality solutions revenue up almost 13% to $792 million. Group revenue increased almost 13% to $5 billion for the nine months.
EBITDA for the group rose 10% to $651 million year over year while profit came in at $369 mil-lion, up for $325 in Q3 2023.
"We have delivered a high-growth, profitable and cash-generative evolution in the first nine months of 2024, supported by strong performances across our businesses," said Luis Maroto, president and CEO. "Based on our solid financial situation to date and our prospects for the fourth quarter, we reiterate our confidence on the outlook we issued at the beginning of the year.
"We are confident about the growth opportunities ahead for Amadeus and we are committed to achieving them. Amadeus is accelerating investment and aims to become the undisputed aggregator of NDC volumes for airlines and travel agencies, to lead the airline IT retailing transformation and to be the IT provider of reference to the hospitality industry."
Source: PhocusWire