Amadeus, a company specializing in global reservation systems for airlines and hotels, reported a profit of 1,052 euros in 2023, 68% more than the previous year. A figure that confirms that the technology company has left behind the downturn that the Covid crisis caused its business, since last year it managed to reach levels similar to those of 2019, when it earned 1,113 million.
The adjusted profit was 1,123.9 million euros in 2023, almost 60% more than the 703 million of the previous year. The improvement is largely explained by the increase in revenue – 21%, up to 5,541 million – as a result of the recovery in global air traffic. A figure that is close to the 5,570 million reached in 2019, which was a historical record for the company. Likewise, reservations rose by 13.6%, to 459 million, while the number of passengers boarded rose by 26.8%.
The gross operating result (Ebitda) reached 2,063 million, which represents an increase of close to 30%, compared to 1,589 million in 2022. Specifically, revenue from air distribution increased by 23.6%, up to 2,655, 1 million, those registered in the technological solutions area increased by 21.6%, up to 1,903.5 million, while those obtained in the hotels area and the payment business grew by 14.2%, up to 882.6 millions. Free cash flow increased by 42.7%, up to 1,148.6 million. As of December 31, 2023, the net financial debt stood at 2,140.6 million.
The company has announced that next June the board of directors will submit a total full dividend of 1.24 euros per share for approval at the ordinary general meeting of shareholders, which represents 50% of the reported profit. This establishes the distribution of a total of 558.6 million euros as a dividend charged to fiscal year 2023. In this sense, last December the technological provider of tourism services agreed to the distribution of an interim dividend that year of 0.44 full euros per share, which was already paid in mid-January.
“In 2023, Amadeus experienced strong growth, increased its profitability and recorded high cash flow generation. This has allowed us not only to recover ordinary shareholder remuneration, but also to announce share buyback programs that, in total, will total more than 1,000 million euros in 2023,” said the CEO of Amadeus, Luis Maroto. In addition, he has emphasized the company’s commitment to expanding markets and the customer base. Proof of this is the recent announcement of the acquisition of a leading provider of biometric solutions for airports, airlines and border controls.