Amadeus It Group Sa Class A · BME:AMS

Amadeus It Group Sa Class A — Amadeus It Group Sa Ord — FY2023 Earnings Presentation

23 slides from Amadeus It Group Sa Class A's earnings presentation, Feb 28, 2024

  1. Slide 1: 2023 Results

    2023 Results February 28, 2024 1 © Amadeus IT Group and its affiliates and subsidiaries

  2. 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

  3. Slide 3: Operating Review

    Luis Maroto Review President & CEO Operating 3 © Amadeus IT Group and its affiliates and subsidiaries

  4. Slide 4: 2023 Highlights

    2023 Highlights • Revenue €5,441 million, +21% – Strong performance across our segments • EBITDA €2,063 million1, +30%1 – +2.5 p.p. EBITDA margin expansion © Amadeus IT Group and its affiliates and subsidiaries • Operating income €1,383 million1, +52%1 – +5.1 p.p. operating income margin expansion •

  5. Slide 5: Air Distribution

    Air Distribution 2023 Air Distribution revenue +23.6% Developments Amadeus bookings (millions) • Renewed / signed 13 distribution agreements in the quarter (60 in the full year). • Important progress on NDC with travel agencies: +13.6% – Priceline to access NDC-sourced content via the Amadeus Travel

  6. Slide 6: Air IT Solutions

    Air IT Solutions 2023 Air IT Solutions revenue +21.6% Developments Amadeus PB (millions) Airline IT • Israir, tour operator and airline, to deploy Amadeus Altéa PSS and other Amadeus solutions. +26.8% 1,952.3 • A large U.S. carrier signed for Amadeus’ cloud-based Revenue Accounting system. 78.4 • Up

  7. Slide 7: Hospitality & Other Solutions (HOS)

    Hospitality & Other Solutions (HOS) 2023 HOS revenue +14.2% Developments and Performance • 2023 HOS revenue: +14.2% vs. 2022. Q4’23 revenue: +5.2%, or +10% ex. FX, vs. Q4’22. • Both Hospitality and Payments delivered strong growth vs. 2022, supported by new customer implementations and volume expans

  8. Slide 8: Financial Highlights

    CFO Till Streichert Financial Highlights 8 © Amadeus IT Group and its affiliates and subsidiaries

  9. Slide 9: Financial performance: non-recurring effects

    Financial performance: non-recurring effects Figures shown in slides 10-12 have been adjusted to exclude non-recurring effects 2023 2022 Ex. Non- Non- Ex. Non- Non- €millions recurring recurring Reported recurring recurring Reported effects effects effects effects © Amadeus IT Group and its affiliat

  10. Slide 10: Revenue evolution by segment

    Revenue evolution by segment Group revenue (€millions) • • Group revenue: +21.3% in 2023 vs. 2022, driven by strong performances across segments. Air Distribution revenue: +23.6% in 2023 vs. 2022, driven by the bookings’ evolution (+13.6%) and an 8.8% higher revenue per booking than in 2022 (fundame

  11. Slide 11: Segment contribution evolution

    Segment contribution evolution €millions • Air Distribution contribution: +27.6% in 2023 vs. 2022, as a Air Distribution Air IT Solutions result of 23.6% revenue growth and 20.3% cost increase, resulting from (i) higher variable costs, due to volume growth 46.6% 71.6% +21.7% 71.7% +27.6% 1,600.0 1,4

  12. Slide 12: EBITDA and Adjusted profit

    EBITDA and Adjusted profit EBITDA1 (€millions) Adj. Profit1,2 (€ millions) / Adj. EPS1,2 (€) 2,500.0 45.0% 2,000.0 2.90 +29.8% 37.9% 40.0% 1,800.0 +59.8% 2.51 35.4% 2.40 2,000.0 35.0% 1,600.0 +60.7% 2.45 1,400.0 1.90 1.56 30.0% 1,500.0 1,200.0 +59.9% © Amadeus IT Group and its affiliates and subsidi

  13. Slide 13: R&D investment and Capital expenditure

    R&D investment and Capital expenditure R&D investment (€millions) Capital Expenditure (€millions) 1,000.0 +12.9% 900.0 12.6% +6.0% 14.0% 800.0 11.0% 12.0% 700.0 566.7 600.5 10.0% 600.0 61.1 © Amadeus IT Group and its affiliates and subsidiaries 500.0 39.5 8.0% 1,115.6 988.4 400.0 6.0% 527.2 539.4 30

  14. Slide 14: Free cash flow generation and Leverage

    Free cash flow generation and Leverage Free cash flow1 (€millions) Net debt (€millions) and leverage3 +42.7% 1.4x Ex. tax 3,000.0 collection 1,116.72 1.4x and distributor 2,500.0 1.2x Ex. grant 1.0x © Amadeus IT Group and its affiliates and subsidiaries payment2 and impl. 782.92 1.0x Costs2 2,000.0

  15. Slide 15: Outlook

    2024 Outlook 15 © Amadeus IT Group and its affiliates and subsidiaries

  16. Slide 16: 2024 Views

    2024 Views1 Outlook Generally expected dynamics • AD: booking growth, supported by commercial wins, and an expansionary revenue per booking should potentially support high single-digit to a low double-digit Group revenue revenue growth. growth: – YTD mid-Feb 2024 booking growth similar to Q4’23. Mar

  17. Slide 17: Annex

    Annex 17 Annex © 2023 Amadeus IT Group and its affiliates and subsidiaries © Amadeus IT Group and its affiliates and subsidiaries

  18. Slide 18: Q4 Revenue evolution by segment

    Q4 Revenue evolution by segment Group revenue (€millions) • Group revenue: +15.9% in Q4 2023 vs. Q4 2022, driven by strong performances across segments. +15.9% • Air Distribution revenue: +16.9% in Q4 2023 vs. Q4 2022, driven by the bookings’ evolution (+6.9%) and a 9.3% higher revenue per booking t

  19. Slide 19: Q4 EBITDA and Adjusted profit

    Q4 EBITDA and Adjusted profit EBITDA1 (€millions) Adj. Profit1,2 (€ millions) / Adj. EPS1,2 (€) 700.0 45.0% 700.0 1.00 +17.8% 40.0% 0.90 34.6% 600.0 34.1% 600.0 +37.4% 0.80 35.0% 500.0 500.0 0.70 30.0% 400.0 400.0 +39.5% 0.56 0.60 © Amadeus IT Group and its affiliates and subsidiaries 25.0% 20.0% 0.

  20. Slide 20: Q4 Free cash flow generation and Leverage

    Q4 Free cash flow generation and Leverage Free cash flow1 (€millions) Net debt (€millions) and leverage3 300.0 +17.5% 3,000.0 1.4x Ex. 250.0 distributor 2,500.0 1.1x 1.2x payment2 219.02 1.0x Ex. impl. +22.5%2 1.0x 200.0 costs2 178.82 2,000.0 © Amadeus IT Group and its affiliates and subsidiaries 0.

  21. Slide 21: Alternative Performance Measures

    Alternative Performance Measures This document includes unaudited Alternative Performance Measures, such as segment contribution, 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

  22. Slide 22: Key terms

    Key terms • “ACRS”: stands for “Amadeus Central Reservation System” • “ACUS”: stands for “Amadeus Airport Cloud Use Service” • “AI’: stands for “Artificial Intelligence” • “CRS”: stands for “Central Reservation System” • “D&A”: stands for “depreciation and amortization” • “EBIT”: stands for “Earning

  23. Slide 23: Thank you

    Amadeus. It’s how travel works better. Thank you 23 © Amadeus IT Group and its affiliates and subsidiaries

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