Amadeus IT Group, S.A. (AMADF) Q4 2024 Earnings Call Transcript

2025-02-28 12:59:02 ET

Amadeus IT Group, S.A. (AMADF)

Q4 2024 Results Conference Call

February 28, 2025 7:00 AM ET

Company Participants

Luis Maroto - President and CEO

Paco Perez-Lozao - Business Head

Desius Ampakos - Business Head

Conference Call Participants

Alex Irving - Bernstein

Sven Merkt - Barclays

Adam Wood - Morgan Stanley

Victor Cheng - Bank of America

Charles Brennan - Jefferies

Toby Ogg - JPMorgan

Nooshin Nejati - Deutsche Bank

Laurent Dore - Kepler Cheuvreux

Presentation

Operator

This call is being recorded on Friday, February 28, 2025. I would like to turn the conference over to Mr. Luis Maroto, President and CEO of Amadeus. Thank you, please go ahead.

Luis Maroto

Good afternoon. Welcome to our '24 full year results presentation and thank you for joining us today. Our business heads, Decius and Paco are also participating today and they will cover our business overviews. I will first recap on '24 and later I will review our financial performance and expectations for 2025.

Before we get started, as you may know, we recently announced that Karl Borch has been appointed CFO at Amadeus. Karl will start on May 5 and she brings over 30 years experience in finance and has held executive roles in various industries. I’m confident Karl will have a good fit with the team and that she will bring great value to our evolution in the coming years.

Please turn to Slide 4 to recap on ’24. We continued evolving strongly through the fourth quarter, closing the year with solid results, delivering double digit growth and expanding profitability. ’24 was a highly productive year for Amadeus in which we successfully deliver on our outlook and commitments. On full year, revenues grew by 13%, EBITDA increased by 13%, operating income expanded 18%, adjusted profit grew by 20%, free cash flow generation expanded to $1.3 billion growing 16% versus prior year. And we finished the year with leverage of 0.9 times EBITDA.

We saw a strong performance across our reported segments. Air distribution grew by 11% in the year. In the fourth quarter, air distribution revenue growth accelerated, expanding a remarkable 14% year on year. Bookings processed through the Amadeus style platform in the fourth quarter experienced year on year growth of 9% and revenue per booking also advanced in the quarter to close to 5%. Airlines continue to sign NDC distribution agreements with Amadeus to distribute their NDC content through the Amadeus trial platform. We aim to become the undisputed aggregator of NDC content. We believe Amadeus has the most advanced and comprehensive NDC technology in the industry. Our Air IT solution revenue grew by 16% in '24 supported by air traffic growth and the positive impact from new customer implementations over '23 and '24....

Read the full article on Seeking Alpha

For further details see: