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Amadeus Cautiously Optimistic After Solid 2012

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Spanish travel technology company Amadeus said on Wednesday it was "cautiously optimistic" after reporting solid full-year results for 2012.

Earnings and revenues rose in line with analyst expectations at the Madrid-based firm, which is shielded from Spain's economic crisis thanks to its geographic diversity and buoyed by a resilient travel market in the global slowdown.

"In 2013 we will continue to consolidate our position as market leader and develop our competitive offering while at the same time making investments in growth areas like technological solutions for airports, hotels and rail companies," chief executive Luis Maroto said in a statement. "We are cautiously optimistic about this year."

Amadeus expects air traffic to keep rising in 2013, lifted by growth in emerging markets. The company said it would continue to gain market share.

Amadeus on Wednesday reported a 7.5 percent rise in full-year revenues to EUR€2.91 billion (USD$3.79 billion) for 2012. It said it would pay out a dividend of 0.50 euros per share, a 35 percent increase year-on-year.

The firm said the number of airline passengers that booked through its Altea system grew 28 percent year-on-year to 563.8 million people.

Amadeus said earnings before interest, taxes, depreciation and amortization (EBITDA) increased 6.6 percent to EUR€1.1 billion, while adjusted profit grew 18 percent to EUR€575 million.

The technology company, which recently announced that SriLankan Airlines had signed up to use its Altea booking system, said the platform attracted 10 new clients in 2012.

Amadeus reduced net debt by EUR€356.6 million in 2012 to EUR€1.5 billion.

(Reuters)