MADRID (dpa-AFX) - Amadeus IT Group SA (AMADY.PK, AMADF.PK),a Spain-based IT provider for the global travel and tourism industry, Thursday reported a 1 percent increase in its adjusted profit for fiscal 2018 to 1.23 billion euros from 1.11 billion euros a year ago.
Excluding extraordinary tax adjustments in 2017, adjusted profit for the latest year grew 6 percent. Adjusted earnings per share increased 2.7 percent to 2.61 euros from 2.54 euros last year.
EBITDA for the year grew 9.7 percent to 2.04 billion euros from 1.86 billion euros a year ago.
Revenue for the year increased 6.6 percent to 4.94 billion euros from 4.64 billion euros last year.
Amadeus said its financial growth in 2018 was supported by the operating performances of both its Distribution and IT Solutions businesses, as well as the acquisition and consolidation of the TravelClick business from October 4, 2018.
However, the company added that its financial performance in 2018 was distorted by the U.S. Dollar/Euro exchange rate fluctuation compared to 2017, which had a negative impact both on revenue and EBITDA.
Excluding this effect, and also the IFRS 16 impact on EBITDA, both revenue and EBITDA grew at high single-digit growth rates during 2018.
Looking ahead, Amadeus said it is confident about its financial performance in fiscal 2019.
Copyright RTT News/dpa-AFX