Amadeus It Group Sa Class A · BME:AMS
Amadeus It Group Sa Class A — Amadeus It Group Sa Ord — H1 2025 Earnings Presentation
27 slides from Amadeus It Group Sa Class A's earnings presentation, Jul 31, 2025
Slide 1: January – June 2025 Results
July 31, 2025 2025 Results January – June 1 © Amadeus IT Group and its affiliates and subsidiaries
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
Slide 3: H1 Highlights
Luis Maroto, President & CEO H1 Highlights 3 © Amadeus IT Group and its affiliates and subsidiaries
Slide 4: Headlines
Headlines • Delivering profitable growth despite macro and geopolitical environment • Continued R&D investment in technology, capabilities and solutions (>€700 million) © Amadeus IT Group and its affiliates and subsidiaries ‒ 90% applications activated in the cloud • Expanding market relevance ‒ Ind
Slide 5: Strategy update
Strategy update Leading the airline retailing Becoming the IT provider transformation of reference in Hospitality • British Airways implements • Marriott International and Accor Revenue Management ACRS implementations to join © Amadeus IT Group and its affiliates and subsidiaries • First native orde
Slide 6: Air IT Solutions
Air IT Solutions H1 2025 revenue +8% (at cc1) Airline IT Airport IT Amadeus PB (millions) GOL Linhas Aéreas Inteligentes S.A.- SkyCAST London Gatwick- Biometrics Ex.timing eff.2 +6.9% Bulgaria Air - Reference Experience Australian Department of Home Affairs – +5.2% Biometrics +3.7% © Amadeus IT Grou
Slide 7: Hospitality & Other Solutions
Hospitality & Other Solutions H1 2025 revenue +8% (at cc1) Hospitality Payments Accor - Delphi British Airways co-developed solution – new B2 Hotels and SoHo 54 - iHotelier Suite reconciliation module in Outpayce XPP, making it available to the wider airline industry Sunset Tower - Digital Media for
Slide 8: Air Distribution
Air Distribution H1 2025 revenue +8% (at cc1) Air Distribution Amadeus bookings (millions) Global online travel company eDreams ODIGEO 74 airline NDC agreements 35 airline’s NDC content - Cathay Pacific Ex.timing eff.2 +3.2% Business travel management platform TravelPerk Deutsche Telekom – global Cy
Slide 9: Financial highlights
Financial highlights © Amadeus IT Group and its affiliates and subsidiaries Carol Borg, Chief Financial Officer 9
Slide 10: H1 2025 Financial highlights
H1 2025 Financial highlights Revenue EBIT Adjusted EBIT2 €3,260 million, +7% €938 million, +8% €973 million, +7% +8% at cc1 +8% at cc1 © Amadeus IT Group and its affiliates and subsidiaries Profit Adjusted profit2 Free cash flow2 €727 million, +12% €739 million, +9% €469 million, EPS-Diluted +12% Ad
Slide 11: H1 2025 Revenue evolution
H1 2025 Revenue evolution €millions +7.5%3 +7.6%4 +6.8% ( 25.9 ) 113.3 +7.5%2 +7.9%1 36.3 © Amadeus IT Group and its affiliates and subsidiaries 83.7 3,285.9 3,260.0 3,052.6 H1 2024 Air IT Solutions Hospitality & Other Air Distribution H1'25 at cc FX H1 2025 Solutions • AITS : +7.9%1 at cc5. +4.6% P
Slide 12: H1 2025 Adjusted EBIT evolution
H1 2025 Adjusted EBIT1 evolution €millions +4.0% +6.8% ( 30.6 ) +9.3% +3.1% 207.4 ( 100.9 ) ( 9.2 ) +7.4% +7.6%2 1.6 EBITDA1 © Amadeus IT Group and its affiliates and subsidiaries +6.3% +6.6%2 1,200.0 1,276.0 1,279.0 905.9 972.7 974.3 29.7% 29.7% 29.8% 39.3% 39.1% 38.9% margin margin margin margin m
Slide 13: H1 2025 Segment evolution
H1 2025 Segment evolution (at constant currency) €millions Air IT Solutions1 Hospitality & Other Solutions2 Air Distribution3 1,000.0 71.4% 69.8% 80.0% 50.7% 48.5% 900.0 900.0 50.0% 1,000.0 © Amadeus IT Group and its affiliates and subsidiaries 70.0% 800.0 900.0 50.0% 800.0 45.0% 60.0% 800.0 700.0 7
Slide 14: H1 2025 Adjusted profit evolution
H1 2025 Adjusted profit1 evolution €millions +8.5% 681.0 738.7 © Amadeus IT Group and its affiliates and subsidiaries H1 2024 H1 2025 Adjusted EPS1 (€) Adjusted EPS-Diluted1,2 (€) +6.7% +8.5% 1.56 1.67 1.52 1.65 H1 2024 H1 2025 H1 2024 H1 2025 1. Adjusted figures/APMs. See details on adjustments and
Slide 15: H1 2025 R&D investment and Capital expenditure
H1 2025 R&D investment H1 2025 Capital expenditure €millions €millions 900.0 22.3% 25.0% 20.7% 800.0 500.0 12.1% 12.0% 700.0 20.0% 10.6% 393.5 10.0% 600.0 400.0 27.4 322.3 © Amadeus IT Group and its affiliates and subsidiaries 15.0% 5.2 8.0% 500.0 300.0 +14.9% 400.0 727.3 10.0% 6.0% 632.9 366.0 300.
Slide 16: H1 2025 Free cashflow and Net debt / Leverage
H1 2025 Free cashflow1 Net debt / Leverage1 €millions €millions +6.3% +22.1% (At month-end) 76.1 (71.2) +33.5% +6.0% (13.0%) (62.9) (7.7) 4.0 (11.6%) © Amadeus IT Group and its affiliates and subsidiaries ( 468.6 ) 22.7 24.9 530.3 ( 693.1 ) 717.8 468.6 2,111.3 1,715.0 (396.3) H1 2024 EBITDA Capital
Slide 17: 2025 Outlook at constant currency unchanged
2025 Outlook at constant currency unchanged Group revenue: €6.60–€6.84 billion (7.4%-11.4%) Outlook EBITDA1: €2.46–€2.58 billion (5.7%-11.0%) FCF1: €1.25–€1.33 billion © Amadeus IT Group and its affiliates and subsidiaries Segment AD: - Revenue growth: 6.5%–9.5% generally - Contribution margin: smal
Slide 18: Appendix
Appendix 18 18 © Amadeus IT Group and its affiliates and subsidiaries
Slide 19: IFRS Consolidated income statement
IFRS Consolidated income statement €millions Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change unless otherwise stated Revenue 1,627.8 1,556.4 4.6% 3,260.0 3,052.6 6.8% Cost of revenue (389.5) (382.7) 1.8% (801.3) (770.7) 4.0% Personnel and related expenses (506.9) (494.4) 2.5% (1,004.3) (934.5) 7.5% Ot
Slide 20: IFRS Consolidated statement of financial position
IFRS Consolidated statement of financial position €millions Jun 30, 2025 Dec 31, 2024 Change Goodwill 3,915.2 4,090.6 (175.4) Intangible assets 4,311.8 4,331.3 (19.4) Property, plant and equipment 232.0 195.1 36.9 543.0 573.4 (30.5) © Amadeus IT Group and its affiliates and subsidiaries Rest of non-
Slide 21: IFRS Consolidated statement of cash flows
IFRS Consolidated statement of cash flows €millions Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change Operating income 476.3 446.6 6.7% 938.1 868.1 8.1% Depreciation and amortization 171.3 172.0 (0.4%) 337.9 331.9 1.8% Operating income before changes in operating 647.7 618.6 4.7% 1,276.0 1,200.0 6.3% as
Slide 22: Segment reporting
Segment reporting €millions H1 2025 H1 2024 Change Air IT Solutions revenue 1,136.0 1,061.0 7.1% Hospitality & Other Solutions revenue 516.0 485.6 6.2% Air Distribution revenue 1,608.0 1,506.0 6.8% Group Revenue 3,260.0 3,052.6 6.8% © Amadeus IT Group and its affiliates and subsidiaries Air IT Solut
Slide 23: Alternative Performance Measures
Alternative Performance Measures • EBITDA corresponds to IFRS Operating income plus Depreciation and amortization. EBITDA margin is the percentage resulting from dividing EBITDA by Revenue. • Adjusted operating income corresponds to IFRS Operating income adjusted for PPA amortization and impairments
Slide 24: Reconciliations of APMs to IFRS figures
Reconciliations of APMs to IFRS figures – Income Statement €millions, unless otherwise stated Q2 2025 Q2 2024 H1 2025 H1 2024 IFRS Operating income 476.3 446.6 938.1 868.1 Depreciation and amortization 171.3 172.0 337.9 331.9 EBITDA 647.7 618.6 1,276.0 1,200.0 Q2 2025 Q2 2024 H1 2025 H1 2024 IFRS Op
Slide 25: Reconciliations of APMs to IFRS figures
Reconciliations of APMs to IFRS figures (€millions) Reconciliation of net debt Jun 30, 2025 Dec 31, 2024 Current debt 73.4 803.9 Non-current debt 3,060.3 2,571.8 Financial debt per consolidated financial statements 3,133.7 3,375.7 Operating lease liabilities (132.8) (142.6) Interest payable (25.8) (
Slide 26: Key terms
Key terms • “ACRS”: stands for “Amadeus Central Reservation System” • “LCC”: stands for “Low cost carrier” • “AD”: refers to our operating segment Air Distribution • “LATAM”: stands for “Latin America” • “AI”: stands for “Artificial Intelligence” • “M&A”: stands for “Mergers and acquisitions” • “AIT
Slide 27: Thank you.
Thank you. 27 © Amadeus IT Group and its affiliates and subsidiaries
Amadeus It Group Sa Ord — H1 2025 Earnings Presentation on 6ix