Amadeus IT Group : Set for still challenging H1 but valuation moving back to more normal levels
>Q4 2020 activity in line with expectations - Q4 revenues came in at € 474m, down 65% (ODDO BHF: -61%; consensus: -66%). This reflects a slight improvement vs Q3 (-70%) directly linked to the more limited decline in air traffic (-70% in Q4 vs -75% in Q3 RPK). Distribution activity down 78% to € 163M in Q4 (ODDO BHF: € 169m, consensus: € 149m), with bookings down 78%. In terms of good news, booking fees were stable overall, as reversals of provisions for cancellations ...Amadeus is a transaction processor for the global travel and tourism industry. Co. provides transaction processing power and technology solutions to both travel providers (including full service carriers and low-cost airlines, hotels, rail operators, cruise and ferry operators, car rental companies and tour operators) and travel agencies (both online and offline). Co. acts both as a worldwide network connecting travel providers and travel agencies through a processing platform for the distribution of travel products and services (through the Distribution business), and as a provider of a portfolio of IT solutions which automate certain business processes (through the IT solutions business).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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