Amadeus It Group Sa Class A · BME:AMS
Amadeus It Group Sa Class A — Q1 2011 Earnings Presentation
21 slides from Amadeus It Group Sa Class A's earnings presentation, May 9, 2011
Slide 1: Amadeus Q1 2011 Results
Amadeus Q1 2011 Results 9 May 2011 © 2011 Amadeus IT Group SA
Slide 2: Disclaimer
Disclaimer This presentation may contain certain statements which are not purely historical facts, including statements about anticipated or expected future revenue and earnings growth. Any forward looking statements in this presentation are based upon information available to Amadeus on the date of
Slide 3: Recent Industry Performance
Recent Industry Performance International Air Traffic (1) (% Change, year-on-year) GDS bookings (% Change, year-on-year) 9.6% 9.5% 8.6% 8.7% 7.6% 7.7% 7.1% 5.9% 4.4% 1.6% Q1'10 Q2' 10 Q3' 10 Q4' 10 Q1' 11 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 5.9% traffic growth in Q1 2011 despite a lower 3.8% Reduced
Slide 4: Distribution Q1 2011 Highlights: Sustained growth in booking volumes
Distribution Q1 2011 Highlights: Sustained growth in booking volumes Amadeus TA Bookings (m) Q1 2011 Amadeus air TA bookings by region 4.3% % Volume 124.7 Growth NA, 9.8% 119.5 120 16.1 LatAm, 6.2% WE, 50.2% WE 3.9% 15.7 100 APAC, CESE 5.0% 80 13.4% +4.5% MEA 3.1% 60 103.9 108.6 40 MEA, 11.0% APAC 4
Slide 5: IT Solutions Q1 2011 Highlights
IT Solutions Q1 2011 Highlights: Supporting a year of continued growth and visibility Contracted and Migrated airlines (1) Passengers Boarded (2) (m) 109 110 +38.8% 94 100 92 94 97 67.7 26.5 75 70 1.1 50 +6.0% 63.6 67.4 25 0 March 31, 2010 Dec 31, 2010 March 31, 2011 Mar YTD 2010 Mar YTD 2011 Contra
Slide 6: Q1 2011: Selected Operating Highlights
Q1 2011: Selected Operating Highlights Distribution IT Solutions Signature of long-term content agreements with Singapore Airline IT Airlines, Brussels Airlines and eight further airlines Continued track record of growth and delivery in the period: Significant progress in contracting and implementin
Slide 7: Q1 2011 Financial Review
Q1 2011 Financial Review: Revenue Growth and Profitability levels in line with expectations Distribution (€ mm) IT Solutions (€ mm) +49.3% 70.0% +71.3% +47.1% +2.8% 150.9 +2.8% 553.5 538.2 146.8 +4.7% 7.8% 107.6 102.8 253.4 273.0 March YTD 2010 (1) March YTD 2011 (1) March YTD 2010 (1) March YTD 201
Slide 8: Group Net Indirect Fixed Costs
Group Net Indirect Fixed Costs Net Indirect fixed costs (1) (€ mm) +7.0% 89.2 83.3 March TYD 2010 March YTD 2011 © 2011 Amadeus IT Group SA Gross indirect costs growth driven by negative FX impact, inflation, increased efforts in R&D (e.g. TPF decommissioning) and indirect impact of overall group ex
Slide 9: Research & Development and Capital expenditure
Research & Development and Capital expenditure Total Group R&D spend (€ mm) Total Group Capex (€ mm) +13.9 % 73.3 64.3 10.3 11.1 +23.9% 85.1 68.7 63.0 53.3 March YTD 2010 March YTD(1)2011 March YTD 2010 March YTD 2011 Intangible Assets Tangible Assets % revenue (1) 10.0% 12.1% % revenue (1) 9.4% 10.
Slide 10: Group EBITDA
Group EBITDA(1) Contribution to EBITDA growth in Q1 2011 (€ mm) 6.8% 4.8 19.7 (5.8) 272.8 291.4 (1) (1) Q1 2010 EBITDA Contri buti on Ma rgi n Contri buti on Ma rgi n IT Indi rect cos ts a nd Q1 2011 EBITDA Di s tri buti on Sol uti ons capi ta l i za ti ons & RTC % Revenue (1) 39.7% 41.2% © 2011 Ama
Slide 11: Free cash flow generation and Leverage
Free cash flow generation and Leverage Pre-tax free cash flow(1) (€ mm) Covenant Net debt / LTM EBITDA(2) 298.6 (26.2)% 220.2 82.6 3.6x 3.3x 2.9x 2.7x 300.3 2.5x 280.3 2.4x (64.3) (73.3) Dec. 2009 Mar. 2010 June. 2010 Sept. 2010 Dec. 2010 Mar. 2011 (6.8) Net debt (in € mm) EBITDA Capex Change in WC
Slide 12: Sale of Opodo
12 Sale of Opodo © 2011 Amadeus IT Group SA
Slide 13: Sale of Opodo – Regulatory Process Update
Sale of Opodo – Regulatory Process Update On February 9, 2011, Amadeus and a consortium formed by Axa Private Equity and Permira Funds reached an agreement for the sale of Opodo, for an enterprise value of c.€450 mm The transaction is subject to approval from competition authorities Form CO (notific
Slide 14: Opodo Q1 2011 Financial Review
Opodo Q1 2011 Financial Review: Significant Revenue Growth and Sustained Profitability Opodo (€ mm) +28.1% +27.2% +22.2% 32.6 26.7 18.3% 8.9 7.5 March YTD 2010 (1) March YTD 2011(1) Revenue EBITDA EBITDA Margin % +X.X% Growth rate (year-on-year) © 2011 Amadeus IT Group SA Strong growth in revenue, d
Slide 15: Refinancing Process
15 Refinancing Process © 2011 Amadeus IT Group SA
Slide 16: Refinancing Process Update
Refinancing Process Update Existing debt structure inherited from an LBO structure Refinancing key objectives: Optimization of capital structure Cost reduction Increased flexibility No restrictions on advanced repayment or pre-cancellation in our existing debt arrangements Thorough analysis undertak
Slide 17: Support materials
Support materials © 2011 Amadeus IT Group SA
Slide 18: Reconciliation of segment reporting
Reconciliation of segment reporting Reconciliation of Contribution and EBIT (€mm) (1) (1) March YTD 2010 March YTD 2011 % Change Contribution margin 356.1 380.6 6.9% of which, Distribution 253.4 273.0 7.8% of which, IT Solutions 102.8 107.6 4.7% Indirect fixed costs (96.4) (106.6) 10.6% (2) Indirect
Slide 19: Key Performance Indicators
Key Performance Indicators March YTD 2010(1) March YTD 2011(1) % Growth Volumes Total GDS Industry Growth (%) 9.6% 1.6% Total Amadeus Air TA 119.5 127.5 4.3% Bookings (m) Passengers Boarded 67.7 94 38.8% (PB) (m) Financial Results Revenue from 685 704.3 2.8% continuing operations (2) EBITDA from con
Slide 20: Extraordinary Costs Related to the IPO and the sale of Opodo
Extraordinary Costs Related to the IPO and the sale of Opodo Q1 2010 Q1 2011 Personnel and related expenses (1) 0.0 (5.2) Other operating expenses (2) (3.5) 1.2 Total Impact on Profit before Taxes (3.5) (4.0) Income taxes 1.1 1.2 Total impact on Profit for the period (2.4) (2.8) from continuing oper
Slide 21: Your technology partner
AMdaDEUS Your technology partner