(Reuters) -Spain’s Amadeus said on Friday it saw further revenue growth this year boosted by a strong evolution of its businesses, after the travel booking software provider posted a record high annual turnover in 2024.
Amadeus is set to benefit from further growth in the air travel industry, after global airlines body IATA forecast that a record 5.2 billion passengers would fly in 2025, albeit at a slower growth rate of 8% compared to the 10.4% seen last year.
The company, which provides flight booking software to clients in the air travel industry, booked a revenue of 6.14 billion euros ($6.38 billion) last year, about 13% higher than in 2023, and forecast growth of 9% to 13% for 2025.
It also reported a fourth-quarter adjusted net profit of 319.7 million euros, well above the 261.7 million expected by analysts according to LSEG’s IBES data.
Amadeus’ shares were up 5.2% at 0836 GMT, leading gains on Madrid’s IBEX 35 blue-chip index and among top performers on Europe’s benchmark STOXX 600.
Amadeus focused on expanding its tech capabilities last year with the acquisitions of Vision-Box, a provider of face-recognition software for airports, and Voxel, which offers electronic invoices and payment solutions for the travel industry.
It said it was on track to achieve its 2023-2026 targets and announced a share buyback programme of up to 1.3 billion euros that it plans to execute over the next 12 months.
Analysts at UBS have previously highlighted a slowdown in the “disintermediation” of the travel industry, referring to the trend of companies doing away with middlemen like Amadeus in favour of their own services.
($1 = 0.9623 euros)
(Reporting by Javi West Larrañaga in Gdansk; editing by Milla Nissi)
