Amadeus IT Group S.A. - ADR

Strong Financial Performance in 2024: Amadeus delivered double-digit revenue growth of 13%, with EBITDA and operating income both increasing by 13% and 18%, respectively. Free cash flow rose by 16% to $1.3 billion, and the company ended the year with a leverage ratio of 0.9 times EBITDA.

Positive Outlook for 2025: For 2025, Amadeus expects group revenue to grow between $6.690 billion and $6.940 billion (9%-13% growth). EBITDA is anticipated to increase between $2.490 billion and $2.610 billion (7%-12% growth). The expectation includes continued strength across all segments, driven by airline traffic normalizing and ongoing bookings growth.

Air Distribution Segment Performance: Air distribution revenue grew 11% in 2024, with an accelerated growth of 14% in the fourth quarter. The company is adopting more NDC distribution agreements, now exceeding 70. While booking volumes are expected to face challenges initially in 2025 due to geopolitical events and natural disruptions, both revenue per booking and total bookings are projected to grow.