Amadeus It Group Sa Class A · BME:AMS
Amadeus It Group Sa Class A — Amadeus It Group Sa Ord — H1 2024 Earnings Presentation
20 slides from Amadeus It Group Sa Class A's earnings presentation, May 8, 2024
Slide 1: January-June 2024 Results
July 31, 2024 2024 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: Operating Review
Operating Review © Amadeus IT Group and its affiliates and subsidiaries Luis Maroto, President & CEO Decius Valmorbida, President of Travel Unit Francisco Pérez-Lozao, President of Hospitality 3
Slide 4: H1 2024 Highlights
H1 2024 Highlights • Revenue €3,053 million, +13% – Double-digit growth across our segments • EBITDA €1,203 million1, +15%1 – +0.6 p.p. EBITDA margin expansion • EBIT €871 million1, +19%1 © Amadeus IT Group and its affiliates and subsidiaries – +1.2 p.p. EBIT margin expansion • Adjusted profit2 €683
Slide 5: Air Distribution
Air Distribution H1 2024 Air Distribution revenue +10.7% Developments Amadeus bookings (millions) • Renewed / signed 16 distribution agreements in the quarter (32 in H1). • We are progressing on our NDC strategy: +2.9% – 60 airline NDC agreements signed, representing half of the bookable inventory i
Slide 6: Air IT Solutions
Air IT Solutions H1 2024 Air IT Solutions revenue +17.6% Developments Amadeus PB (millions) Airline IT • British Airways signed for Amadeus Network Revenue Management - joint solutions 1,029.0 center, to collaboratively evolve Amadeus Network Revenue Management features and co- 39.9 design new reven
Slide 7: Hospitality & Other Solutions (HOS)
Hospitality & Other Solutions (HOS) H1 2024 HOS revenue +13.2% Developments and Performance • H1 2024 HOS revenue: +13.2% vs. H1 2023. • Both Hospitality and Payments delivered double-digit growth vs. prior year, supported by new customer implementations and volume expansion. Hospitality © Amadeus I
Slide 8: Financial Highlights
Luis Maroto President & CEO Financial Highlights 8 © Amadeus IT Group and its affiliates and subsidiaries
Slide 9: Revenue evolution by segment
Revenue evolution by segment Group revenue (€millions) • • Group revenue: +13.4% in H1 2024 vs. H1 2023, driven by double-digit growth across segments. Air Distribution revenue: +10.7% in H1 2024 vs. H1 2023, driven by our bookings’ evolution (+2.9%) and a 7.6% higher revenue per booking, resulting
Slide 10: Segment contribution evolution
Segment contribution evolution €millions • Air Distribution contribution: +13.4% in H1 2024 vs. H1 2023, Air Distribution Air IT Solutions as a result of 10.7% revenue growth and 8.2% cost increase, resulting from (i) higher variable costs, due to volume growth 900.0 47.4% 48.5% 50.0% 900.0 71.2% 71
Slide 11: EBITDA, EBIT and Adjusted profit
EBITDA, EBIT and Adjusted profit EBITDA1 and EBIT1 (€millions) 1,500.0 40.0% 1,000.0 Adj. Profit1,2 (€ millions) / Adj. EPS1,2 (€) 38.9% 39.4% 35.0% 900.0 +22.0% 2.10 1,300.0 27.3% 28.5% 800.0 1.57 +25.8% 30.0% 1.25 1.60 700.0 25.0% 1.52 1,100.0 600.0 1.21 +25.4% 1.10 1,203.0 20.0% +15.0% 500.0 15.0
Slide 12: R&D investment and Capital expenditure
R&D investment and Capital expenditure R&D investment (€millions) Capital expenditure1 (€millions) 800.0 25.0% 800.0 700.0 20.4% 20.7% 700.0 16.0% 14.0% 11.4% 20.0% 600.0 +15.5% 600.0 10.6% 12.0% 500.0 500.0 15.0% © Amadeus IT Group and its affiliates and subsidiaries 10.0% +4.9% 322.3 400.0 400.0 3
Slide 13: Free cash flow generation and Leverage
Free cash flow generation and Leverage Free cash flow1 (€millions) Net debt (€millions) and leverage3 +9.4% 1.15x 600.0 3,000.0 1.2x 500.0 +19.9%2 2,500.0 1.02x 1.1x Ex. tax related collection2 442.22 1.0x 400.0 © Amadeus IT Group and its affiliates and subsidiaries 2,000.0 0.9x 300.0 1,500.0 0.8x 4
Slide 14: Annex
Annex 14 Annex © 2023 Amadeus IT Group and its affiliates and subsidiaries © Amadeus IT Group and its affiliates and subsidiaries
Slide 15: Revenue evolution by segment (Q2)
Revenue evolution by segment Group revenue (€millions) • Group revenue: +12.7% in Q2 2024 vs. Q2 2023, resulting from strong revenue performances across segments. +12.7% • Air Distribution revenue: +8.8% in Q2 2024 vs. Q2 2023, as a result of a 3.0% booking volume growth and a 5.6% revenue per booki
Slide 16: EBITDA, EBIT and Adjusted profit (Q2)
EBITDA, EBIT and Adjusted profit EBITDA1 and EBIT1 (€millions) Adj. Profit1,2 (€ millions) / Adj. EPS1,2 (€) 1,000.0 40.0% 39.9% +25.0% 900.0 38.8% 2.10 800.0 35.0% 800.0 27.5% 28.9% 30.0% 700.0 1.60 600.0 25.0% 600.0 621.0 +29.2% 1.10 +15.8% 500.0 0.64 0.82 536.3 20.0% 0.80 © Amadeus IT Group and i
Slide 17: Free cash flow generation and Leverage (Q2)
Free cash flow generation and Leverage Free cash flow1 (€millions) Net debt (€millions) and leverage3 1.15x 600.0 (8.3%) 3,000.0 1.13x 1.2x 500.0 1.1x 2,500.0 1.0x 400.0 © Amadeus IT Group and its affiliates and subsidiaries 2,000.0 0.9x 300.0 1,500.0 0.8x Ex. tax related 2,460.0 2,594.7 collection2
Slide 18: Alternative Performance Measures
Alternative Performance Measures This document includes unaudited Alternative Performance Measures, such as EBITDA, net financial debt as defined by our credit facility agreements, adjusted profit, Free Cash Flow, R&D investment and their corresponding ratios. These Alternative Performance Measures
Slide 19: Key terms
Key terms • ““AD”: refers to our operating segment Air Distribution • “AI”: stands for “Artificial Intelligence” • “AITS”: refers to our operating segment Air IT Solutions • “B2B”: stands for “Business-to-business” • “D&A”: stands for “depreciation and amortization” • “EBITDA”: stands for “Earnings
Slide 20: Thank you
Amadeus. It’s how travel works better. Thank you 20 © Amadeus IT Group and its affiliates and subsidiaries
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