Amadeus Q1 profits up 22.1% to $218 million

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Transaction processor Amadeus has posted 22.1% growth in adjusted profits for the quarter to 31 March, pocketing €168 million ($218 million).

The travel technology firm's revenue grew 8.5% to €764 million, while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 5.4% to €307 million.

Consolidated debt was also reduced by €91.7 million to €1.76 billion, representing a multiplier of 1.65 on the EBITDA of the previous 12 months.

Revenue growth in both the distribution division and the IT solutions division underpinned the positive results, says president and chief executive Luis Maroto. He cites two recent contracts with Southwest Airlines and Expedia.

Amadeus expanded its global market share of travel agency air bookings by 0.9 percentage points during the quarter, boosting its dominance to 38.2%.