Amadeus IT Group S.A

Latest Results (28.08.2026):

Amadeus IT Group S.A — H1 2026 (covering Q1–Q2 2026): The company reported resilient first‑half 2026 results with Group revenue of €3,334.9m (+2.3% reported; +5.1% at constant currency), operating income of €943.2m (+0.6%), and Adjusted EBIT of €1,011.5m (+4.9% at constant currency). Adjusted diluted EPS rose 7.3% at constant currency (diluted EPS +1.0% reported). Free cash flow was €472.2m (+0.8%) and net financial debt stood at €2,577.5m (1.0x LTM EBITDA). Results were moderated from March by geopolitical disruptions in the Middle East, but the company completed a €500m share buyback in June and emphasised diversification, commercial momentum and AI investments.

Revenue and growth

Group revenue €3,334.9m, up 2.3% year‑on‑year (5.1% at constant currency). Growth was broad‑based across segments, helped by higher revenue per passenger/booking despite softer volumes after March.

Profitability

Operating income €943.2m (+0.6%); Adjusted EBIT €1,011.5m (+4.0% reported; +4.9% at constant currency). Adjusted EBIT margin improved to 30.3% (vs 29.8% prior year at cc).

Earnings per share

Diluted EPS €1.64 (+1.0% reported). Adjusted diluted EPS increased 7.3% at constant currency, reflecting underlying margin progress and commercial execution.

Cash flow and balance sheet

Free cash flow €472.2m (+0.8%). Net financial debt €2,577.5m at 30 Jun 2026, equal to 1.0x last‑twelve‑month EBITDA per credit facility metrics.

Capital allocation

Completed the announced €500m share repurchase in June 2026, demonstrating active return of capital while maintaining conservative leverage.

Air IT Solutions

Air IT Solutions revenue €1,206.8m, up 6.2% reported (8.7% at constant currency). Revenue per passenger boarded rose ~7.5%, supported by new solutions, Airport IT and Professional Services.

Hospitality & Other Solutions (HOS)

HOS revenue €543.4m, +5.3% reported (9.2% at constant currency), driven by new customer implementations, higher transactions and progress on ACRS large customer rollouts.

Air Distribution & volumes

Air Distribution revenue €1,584.7m, down 1.5% reported but +1.1% at constant currency. Bookings fell 3.7% (238.0m) and passengers boarded rose 1.1% (1,089.1m) amid higher cancellations and disruptions from March due to the Middle East geopolitical situation; revenue per booking grew ~5.1% at constant currency.

Outlook and strategic priorities

Management says the Middle East situation moderated air traffic and growth expectations but had limited impact on overall outlook due to business diversification. Continued focus on commercial momentum, embedding AI across the portfolio, strategic partnerships (including Google) and the planned acquisition of IDEMIA Public Security (subject to approvals, targeted mid‑2027).