Report
Yan Derocles

Amadeus IT Holding SA : Amadeus is making progress…

>A quality set of Q2 figures - Amadeus released its Q2 2018 figures with EBITDA coming out 2% above the consensus at € 539.2m (Oddo BHF € 531m, consensus € 529.1m) and the margin reaching 43.2% (+155bp) thanks to operating leverage and a one-off in the IT Solutions division. The 9% growth in EBITDA was also boosted by a high capitalisation rate which was reflected in the capex figure (+32%) and was responsible for the weak FCF generation posted in Q2 (at € 156m). EPS ...
Underlying
Amadeus IT Group SA Class A

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).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Yan Derocles

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