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Amadeus sees double-digit jumps all over fiscal 2023

Amadeus sees double-digit jumps all over fiscal 2023

Travel-industry IT company Amadeus has reported a 68.3 percent jump in annual profit, comparing 2023 to 2022. Revenue rose a respectable 21.3 percent over the same period.

Spain-based Amadeus has a diverse portfolio of IT services, including biometric verification.

For the fiscal year ended December 31, 2023, executives reported a profit of €1 billion (US$1 billion), or an adjusted earnings per share of €2.51 ($2.71), on revenue of €5.4 billion ($5.8 billion).

That compares with a profit of €625.1 million ($675.6 million), €1.56 ($1.69), on revenue of €4.4 billion $(4.76 billion) for fiscal 2022.

The fourth quarter performed similarly.

Amadeus reported a quarterly profit of €210.1 million ($227.1 million), or adjusted earnings per share of €0.56 ($0.60), on revenue of €1.3 billion ($1.4 billion) for the period ended December 31, 2023.

This compares to a Q4 2022 profit of €142.9 million ($154.4 million), €0.40 ($0.43), on revenue of €1.1 billion ($1.1 billion) revenue.

Drilling down to the company’s Air IT unit finds more healthy increases.

The unit reported revenue of €1.9 billion ($2 billion), 21 percent higher than the €1.5 billion ($1.6 billion) in fiscal 2022.

During the fourth quarter of 2023, the Air IT unit reported revenue of €495 million ($535 million), a 20 percent jump over the €410.9 million ($444.1 million) for the same period the year before.

Financially flush, Amadeus bought Vision-Box last month for its biometric border control services. The deal was valued at €320 million (US$347.6 million).

Another acquisition may come soon, with Amadeus bidding against Fiserv for payments processor Shift4 Payments, Reuters reports. Sources told Reuters that Shift4 has a market value close to $7 billion, and no deal is imminent.

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