Amadeus has reported revenue gains across its air distribution, airline technology and hospitality business units for the first quarter of 2024.
The global distribution and technology company reported a 13% increase in air distribution revenue to €764 million while air IT solutions revenue was up 17% to €497 million year over year.
Revenue in the hospitality solutions business rose to €235 million, a 13% increase versus the same quarter in 2023.
Amadeus highlighted milestones in the quarter including a deal with British Airways to implement Amadeus Nevio and a new distribution capability (NDC) technology partnership with Expedia. It also secured an e-money license in Europe for its Outpayce business.
Luis Maroto, president and CEO, said, “Amadeus started the year strongly, reporting double-digit growth across all our reported segments. We are also advancing on our strategic initiatives. Amadeus will be deploying its NDC technology for Expedia Group, representing an endorsement to our industrywide NDC rollout, and British Airways signed for Amadeus Nevio, a milestone in the airline’s path to modern retailing. Based on this solid start to 2024, we look to the rest of the year with confidence.”
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The company also announced the acquisitions of biometrics specialist Vision-Box and payments specialist Voxel in the quarter and reported an aggregate transaction cost of €600,000.
During a call with analysts, Maroto said Amadeus' investments in offer and order with its Nevio offering will create incremental value but stressed that it will take longer than a couple of years.
"It's not going to happen in the next couple of years. It will be a progressive implementation. We will start implementing modules."
Research and development investment for the quarter increased almost 9% to €295 million.
EBITDA for the Madrid-based company increased 14% to €582 million, while group revenue increased 14% to €1.5 billion for Q1. Adjusted profit was up 19% to €325 million.