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© Amadeus IT Group and its affiliates and subsidiaries 1 January – June 2025 Results July 31, 2025 © Amadeus IT Group and its affiliates and subsidiaries
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© Amadeus IT Group and its affiliates and subsidiaries 2 • This presentation may contain certain statements which are not purely historical facts, including statements about anticipated or expected future revenue and earnings growth. Any forward-looking statements in this presentation are based upon information available to Amadeus on the date of this presentation. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Amadeus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on forward-looking statements. • The financial information included in this document has been prepared in accordance with International Financial Reporting Standards (IFRS) and has not been audited. • In addition to the financial information presented herein and prepared under IFRS, this document includes certain alternative performance measures (APMs), as defined in the guidelines issued by the European Securities and Markets Authority (ESMA Guidelines), on October 5, 2015, on APMs. These APMs are derived from our consolidated income statement, consolidated statement of financial position, consolidated statement of cash flows and our accounting records. We believe that these APMs provide useful and relevant information to facilitate a better understanding of Amadeus’ performance and economic position and to better compare current results with those of previous periods. These measures are not defined under IFRS and therefore may not be comparable to those presented by other companies. A reconciliation of our APMs to our IFRS figures is provided in the Appendix of this presentation, and more details are also provided in section 5.3 of First half 2025 Management Review. • This presentation must be accompanied by a verbal explanation. A simple reading of this presentation without the appropriate verbal explanation could give rise to a partial or incorrect understanding. Disclaimer
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© Amadeus IT Group and its affiliates and subsidiaries 3 H1 Highlights Luis Maroto, President & CEO
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© Amadeus IT Group and its affiliates and subsidiaries • Delivering profitable growth despite macro and geopolitical environment • Continued R&D investment in technology, capabilities and solutions (>€700 million) ‒ 90% applications activated in the cloud • Expanding market relevance ‒ Industry-transforming strategic customer implementations: British Airways, Air France-KLM, Finnair and Saudia for Nevio, Marriott International, Accor for ACRS ‒ New, renewed or extended customer relationships: Ryanair, London Gatwick, Accor (for Delphi), British Airways (for Outpayce), eDreams ODIGEO, BCD Travel • New strategic partnership Google for multi-cloud operations, enhanced AI innovation and business collaborations Headlines 4 © Amadeus IT Group and its affiliates and subsidiaries
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© Amadeus IT Group and its affiliates and subsidiaries Fulfil traveler needs across the entire trip experience Orchestrate a vibrant travel ecosystem Pioneer the travel technology of the future Growing leadership in airline distribution • New and expanded travel seller business agreements • Expanding NDC and LCC content bookable on Amadeus Travel platform ▪ 29 new contracts or renewals of distribution agreements ▪ 74 NDC agreements Strategy update 5 Leading the airline retailing transformation • British Airways implements Revenue Management • First native order by Finnair • Saudia adopts smart bridging • Nevio program with Air France- KLM started Becoming the IT provider of reference in Hospitality • Marriott International and Accor ACRS implementations to join InterContinental Hotels Group and MGM Resorts International on community platform To power the largest ecosystem of open, connected and flexible solutions in Travel • Cloud transformation • Harnessing power of AI and data • Gen AI integrated to our platform • Google and Microsoft partnerships for multi-cloud strategy and to propel AI innovation Strategic pillars
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© Amadeus IT Group and its affiliates and subsidiaries 6 H1 2025 revenue +8% (at cc1) Air IT Solutions Amadeus PB (millions) H1 2025 Amadeus PB by region 1. At constant currency. See section 3 of H1 2025 Management Review for further details. 2. Excluding the timing effect from one less day (leap year in 2024). Q1 and Q2 growths excluding as well the timing effect from Easter and the PB contribution from Vietnam Airlines (which migrated to Amadeus’ platform in April 2024) are 5.7% and 3.5%, respectively. APAC 33% WE 31% NA 17% MEA 9% LATAM 5% CESE 5%Growth Vs. PY TOTAL 4.6% APAC 9.9% WE 3.6% NA (4.5%) MEA 5.1% LATAM 7.4% CESE 7.4% % of total GOL Linhas Aéreas Inteligentes S.A.- SkyCAST Bulgaria Air - Reference Experience Luxair – Incremental solutions Ryanair - Renewed partnership following 25 years of successful collaboration Google Offer Management System – integration with Nevio Airline IT Airport IT London Gatwick- Biometrics Australian Department of Home Affairs – Biometrics GH Italia - Altéa Departure Control System Groupe Lucien Barrière casino - Biometrics © Amadeus IT Group and its affiliates and subsidiaries 5.5% 3.9% 4.6% Q1 Q2 H1 2025 Revenue evolution €millions 575.2 568.5 545.1 599.6 Q3'24 Q4'24 Q1'25 Q2'25 +6.3%1+9.7%1+14.9%+13.7% Growth vs. PYH1’25 +4.6%: supported by global air traffic evolution and Vietnam Airlines’ PB contribution (migrated April 2024). +5.2% excluding timing effects. Air traffic impacted by geopolitical situations (Middle East, South Asia), moderation in travel demand to/within the U.S., airline incidents (in Q1 and Q2). Q2’25 +3.9%: softer than Q1, driven by Vietnam Airlines’ migration anniversary and global air traffic growth softening. First weeks of July, PB trend slightly slower than Q2. Amadeus PB evolution +5.2% +6.9% +3.7% Ex.timing eff.2
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© Amadeus IT Group and its affiliates and subsidiaries 248.3 257.3 255.5 266.5 Q3'24 Q4'24 Q1'25 Q2'25 7 H1 2025 revenue +8% (at cc1) Hospitality & Other Solutions Accor - Delphi B2 Hotels and SoHo 54 - iHotelier Suite Sunset Tower - Digital Media for Hotels Visit Egypt - Digital Media for Destinations Omeir Travel Agency – Value Hotels New AI tools: Advisor Chat, Email to RFP in MeetingBroker Hospitality British Airways co-developed solution – new reconciliation module in Outpayce XPP, making it available to the wider airline industry Payments Revenue evolution €millions 7 +6.3%1+8.8%1+10.8%+12.2%Growth vs. PY © Amadeus IT Group and its affiliates and subsidiaries 1. At constant currency. See section 3 of H1 2025 Management Review for further details.
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© Amadeus IT Group and its affiliates and subsidiaries 74 airline NDC agreements 35 airline’s NDC content - Cathay Pacific Deutsche Telekom – global Cytric customer Cytric resellers: BCD Travel and Globespan Travel Management Amadeus Cytric Easy: Gold award in the Customer experience category at the 2025 National Marketing Awards in Spain Revenue evolution €millions 724.4 715.3 812.4 806.8 Q3'24 Q4'24 Q1'25 Q2'25 WE 27% NA 26%APAC 23% MEA 11% CESE 8% LATAM 5%Growth Vs. PY TOTAL 2.0% WE (0.6%) NA 1.6% APAC 10.4% MEA (5.4%) CESE 5.2% LATAM (3.1%) 8 H1 2025 revenue +8% (at cc1) Air Distribution Amadeus bookings (millions) H1 2025 Amadeus bookings by region 1. At constant currency. See section 3 of H1 2025 Management Review for further details. 2. Excluding timing effects from workday differences and holidays. % of total Global online travel company eDreams ODIGEO Business travel management platform TravelPerk Leading travel seller in Philippines Via Philippines Berg-Hansen and CVC Corp Google Flights to display Amadeus inventory Rail content: Brightline and iryo Air Distribution +8.8%1+6.3%1+14.0%+8.6% Growth vs. PY © Amadeus IT Group and its affiliates and subsidiaries Amadeus bookings evolution 2.5% 1.5% 2.0% Q1 Q2 H1 2025 +3.2% +2.2% +2.7% Ex.timing eff.2 H1’25 +2.0%: supported by Amadeus’ commercial success across regions. +2.7% excluding timing effects. Air traffic growth impacted by geopolitical situations (Middle East, South Asia), moderation in travel demand to/within the U.S., airline incidents (in Q1 and Q2). Q2’25 +1.5% (+2.2% ex. timing effects), softer than Q1, driven by global air traffic softening. First weeks of July showing growth above Q2, strong booking growth in multiple regions.
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© Amadeus IT Group and its affiliates and subsidiaries 9 Financial highlights Carol Borg, Chief Financial Officer
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© Amadeus IT Group and its affiliates and subsidiaries 10 H1 2025 Financial highlights 1. At constant currency. See section 3 of First half 2025 Management Review for further details. 2. APMs. See Appendix and section 5.3 of First half 2025 Management Review for a reconciliation to IFRS figures. Revenue €3,260 million, +7% +8% at cc1 Profit €727 million, +12% EPS-Diluted +12% Adjusted profit2 €739 million, +9% Adjusted EPS-Diluted1 +9% EBIT €938 million, +8% Adjusted EBIT2 €973 million, +7% +8% at cc1 Free cash flow2 €469 million, -12% Leverage 0.7x Ongoing €1.3 billion share repurchase program 2025 outlook at constant currency unchanged 10 © Amadeus IT Group and its affiliates and subsidiaries
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© Amadeus IT Group and its affiliates and subsidiaries 3,052.6 3,285.9 3,260.0 83.7 36.3 113.3 ( 25.9 ) H1 2024 Air IT Solutions Hospitality & Other Solutions Air Distribution H1'25 at cc FX H1 2025 +7.9%1 +7.5%2 +7.5%3 +6.8% 11 H1 2025 Revenue evolution €millions • AITS : +7.9%1 at cc5. +4.6% PB growth and +3.1% higher revenue per PB5: positive pricing effects (new agreements, renegotiations, upselling of solutions, inflation) and higher Airline Expert Services and Airport IT revenues, partly offset by platform mix. • HOS : +7.5%2 at cc5. Within Hospitality: (i) Hotel IT, Distribution and Business Intelligence steady growth (customer implementations, transaction volumes expansion); (ii) Digital Media revenue growth moderation, mainly due to a reduction in our customers’ media spend. Payments: both Merchant Services and Payout Services expanded notably. 5. At constant currency. See section 3 of H1 2025 Management Review for further details. • AD : +7.5%3 at cc5. +2.0% bookings’ growth and +5.4%5 revenue per booking (positive pricing effects from renegotiations, new agreements, inflation). • Group : +7.6%4 at cc5, driven by revenue expansion across segments. +7.6%4
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© Amadeus IT Group and its affiliates and subsidiaries 1,200.0 1,276.0 1,279.0 H1 2024 H1 2025 H1'25 at cc 39.3% margin 39.1% margin 38.9% margin 12 1. Adjusted figures/APMs. See details on adjustments and reconciliations to IFRS figures in the Appendix and in section 5.3 of H1 2025 Management Review. 2. At constant currency. See section 3 of H1 2025 Management Review for further details. €millions H1 2025 Adjusted EBIT1 evolution EBITDA1 +6.6%2 905.9 972.7 974.3 207.4 ( 30.6 ) ( 100.9 ) ( 9.2 ) 1.6 H1 2024 Revenue Cost of revenue Fixed costs D&A H1 2025 FX H1'25 at cc 29.8% margin 29.7% margin 29.7% margin +7.6%2 +6.8% +4.0% +9.3% +3.1% • Cost of revenue: +4.0%, driven by revenue expansion across businesses. • Fixed costs (Personnel and other operating expenses): +9.3%, resulting from (i) resource increases and a higher unitary personnel cost, (ii) higher cloud costs (volumes expansion + migration of our solutions to the public cloud), and (iii) Vision- Box’s consolidation. • Ordinary D&A expense: +3.1%, due to amortization of internally developed software, partly offset by lower depreciation expense at our data centre, as a result of the migration of our systems to the public cloud. +7.4% +6.3%
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© Amadeus IT Group and its affiliates and subsidiaries Air IT Solutions1 757.3 798.7 71.4% 69.8% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 800.0 900.0 1,000.0 H1 2024 H1'25 at cc Contribution Cont. Margin +5.5% Hospitality & Other Solutions2 166.2 175.3 34.2% 33.6% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 800.0 900.0 H1 2024 H1'25 at cc Contribution Cont. Margin +5.5% 13 H1 2025 Segment evolution (at constant currency) €millions Air Distribution3 731.0 821.3 48.5% 50.7% 30.0% 35.0% 40.0% 45.0% 50.0% 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 800.0 900.0 1,000.0 H1 2024 H1'25 at cc Contribution Cont. Margin +12.4% • AITS contribution: +5.5%1 at cc4, from 7.9%4 revenue growth and 13.9%4 cost increase, mainly resulting from (i) increased R&D investment (portfolio evolution and expansion, customer implementations and fast-growing Airline Expert Services business), (ii) variable cost growth, mostly driven by expansion in Airport IT, and (iii) Vision-Box’s consolidation. 69.8%4 margin, 0.8 p.p. below H1’24 excluding Vision-Box’s consolidation, due to business mix. 4. At constant currency. See section 3 of H1 2025 Management Review for further details. • HOS contribution: +5.5%2 at cc4, from 7.5%4 revenue growth and 8.5%4 cost increase, driven by variable cost growth (volumes expansion in both Hospitality and Payments) and fixed cost growth (increase in resources and in unitary personnel cost). • AD contribution: +12.4%3 at cc4, from 7.5%4 revenue growth and 3.0%4 cost increase, mainly resulting from volume expansion.
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© Amadeus IT Group and its affiliates and subsidiaries 1. Adjusted figures/APMs. See details on adjustments and reconciliations to IFRS figures in the Appendix and in section 5.3 of First half 2025 Management Review. 2. Includes the dilution effect related to the potential conversion of the convertible bonds into ordinary shares. €millions 681.0 738.7 H1 2024 H1 2025 +8.5% Adjusted EPS1 (€) 1.56 1.67 H1 2024 H1 2025 +6.7% Adjusted EPS-Diluted1,2 (€) 1.52 1.65 H1 2024 H1 2025 +8.5% H1 2025 Adjusted profit1 evolution 14 © Amadeus IT Group and its affiliates and subsidiaries
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© Amadeus IT Group and its affiliates and subsidiaries 632.9 727.3 20.7% 22.3% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 800.0 900.0 H1 2024 H1 2025 R&D investment As % of Revenue 1 15 H1 2025 R&D investment H1 2025 Capital expenditure €millions €millions 317.1 366.0 5.2 27.4 10.6% 12.1% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 0.0 100.0 200.0 300.0 400.0 500.0 H1 2024 H1 2025 Intangible assets PP&E As % of Revenue +22.1% 322.3 393.5 New solutions & enhancements Customer implementations & services Internal technology % of total +14.9% © Amadeus IT Group and its affiliates and subsidiaries• Capital expenditure: +22.1%, with a decreasing trend versus Q1. Capital expenditure growth fundamentally driven by higher R&D capitalizations. • R&D investment: +14.9%. By areas of investment: – c.50% dedicated to the evolution of our portfolio, including Amadeus Nevio and Navitaire Stratos for airlines, our hospitality platform, NDC technology for airlines, travel sellers and corporations, solutions for airports and payment solutions. – c.30% dedicated to customer implementations across businesses, such as Marriott International and Accor for ACRS, relating to new Nevio customers and airline portfolio upselling, and customers implementing NDC technology, as well as efforts related to bespoke and consulting services. – c.20% dedicated to our migration to the cloud and our partnership with Microsoft, and developments for our internal IT systems.1. Net of research tax credits.
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© Amadeus IT Group and its affiliates and subsidiaries 16 H1 2025 Free cashflow1 1. APMs. See details on adjustments and reconciliations to IFRS figures in the Appendix and in section 5.3 of H1 2025 Management Review. 2. See section 3 of H1 2025 Management Review for further details on constant currency calculations. Net debt / Leverage1 €millions €millions 530.3 468.6 76.1 (71.2) (62.9) (7.7) 4.0 H1 2024 EBITDA Capital expenditure Change WC Taxes Interests H 2025 (At month-end) 0.9x Leverage +6.3% +22.1% +33.5% +6.0% (13.0%) (11.6%) © Amadeus IT Group and its affiliates and subsidiaries 2,111.3 1,715.0 ( 468.6 ) ( 693.1 ) 717.8 22.7 24.9 0.7x • Free cash flow: €468.6 million. 11.6% below H1 2024, as expected. • Change in working capital outflow mainly driven by personnel related payments, advanced payments to suppliers and timing differences between collections and payments, versus revenues and expenses recognized, as a result of the seasonality of our booking and PB volumes. • At constant currency, H1 2025 Free cash flow of €466.8 million, 12.0% below prior year2. (396.3)
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© Amadeus IT Group and its affiliates and subsidiaries • 2025 outlook based on IATA’s Dec’24 6% global air traffic growth expectation for 2025. • The current industry outlook puts our revenue growth expectation at the lower end of the range. EBITDA and EBIT expected to grow faster than revenue. • Effective resource management to support our EBITDA and FCF evolutions and continued investment in our strategic initiatives. 2025 Outlook at constant currency unchanged Outlook Group revenue: €6.60–€6.84 billion (7.4%-11.4%) EBITDA1: €2.46–€2.58 billion (5.7%-11.0%) FCF1: €1.25–€1.33 billion Segment generally expected dynamics AD: - Revenue growth: 6.5%–9.5% - Contribution margin: small expansion AITS: - Revenue growth: 7.7%–12.1% - Contribution margin: dilution HOS: - Revenue growth: 9.5%–15.5% - Contribution margin: expansion 17 1. Adjusted figures/APMs. See details on adjustments and reconciliations to IFRS figures in the Appendix and in section 5.3 of First half 2025 Management Review. © Amadeus IT Group and its affiliates and subsidiaries
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© Amadeus IT Group and its affiliates and subsidiaries Appendix 18 © Amadeus IT Group and its affiliates and subsidiaries 18
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© Amadeus IT Group and its affiliates and subsidiaries 19 IFRS Consolidated income statement © Amadeus IT Group and its affiliates and subsidiaries €millions unless otherwise stated Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change Revenue 1,627.8 1,556.4 4.6% 3,260.0 3,052.6 6.8% Cost of revenue (389.5) (382.7) 1.8% (801.3) (770.7) 4.0% Personnel and related expenses (506.9) (494.4) 2.5% (1,004.3) (934.5) 7.5% Other op. expenses (83.8) (60.7) 38.0% (178.4) (147.4) 21.0% Depreciation and Amort. (171.3) (172.0) (0.4%) (337.9) (331.9) 1.8% Operating income 476.3 446.6 6.7% 938.1 868.1 8.1% Interest expense (19.9) (27.3) (27.4%) (37.5) (50.9) (26.3%) Interest income 4.1 5.1 (18.6%) 8.8 10.2 (13.6%) Other financial income (expenses) (1.9) (4.9) (60.7%) (4.1) (5.6) (26.5%) FX gains (losses) 13.8 (5.2) n.m. 19.7 (5.9) n.m. Net financial expense (3.8) (32.4) (88.3%) (13.1) (52.2) (75.0%) Other income (expense) (0.1) 0.1 n.m. (0.8) (0.3) 152.3% Profit before taxes 472.5 414.3 14.0% 924.2 815.6 13.3% Income tax expense (101.6) (83.0) 22.4% (198.7) (171.3) 16.0% Profit after taxes 370.9 331.3 12.0% 725.5 644.3 12.6% Share in profit assoc./JV 1.2 2.9 (59.4%) 1.9 3.5 (45.3%) Profit 372.1 334.2 11.3% 727.4 647.8 12.3% EPS – Basic (€) 0.84 0.77 9.0% 1.64 1.48 10.5% EPS – Diluted (€) 0.83 0.75 11.5% 1.62 1.44 12.4%
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© Amadeus IT Group and its affiliates and subsidiaries 20 © Amadeus IT Group and its affiliates and subsidiaries IFRS Consolidated statement of financial position €millions Jun 30, 2025 Dec 31, 2024 Change Goodwill 3,915.2 4,090.6 (175.4) Intangible assets 4,311.8 4,331.3 (19.4) Property, plant and equipment 232.0 195.1 36.9 Rest of non-current assets 543.0 573.4 (30.5) Non-current assets 9,002.0 9,190.4 (188.4) Cash and equivalents 1,259.9 1,049.1 210.8 Rest of current assets 1,535.3 1,544.8 (9.5) Current assets 2,795.2 2,593.9 201.3 Total assets 11,797.2 11,784.3 13.0 Equity 5,300.2 5,062.4 238.0 Non-current debt 3,060.3 2,571.8 488.5 Rest of non-current liabilities 1,076.6 1,114.1 (37.4) Non-current liabilities 4,136.9 3,685.9 451.0 Current debt 73.4 803.9 (730.5) Rest of current liabilities 2,286.7 2,232.1 54.5 Current liabilities 2,360.1 3,036.0 (676.0) Total liabilities and equity 11,797.2 11,784.3 13.0
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© Amadeus IT Group and its affiliates and subsidiaries 21 IFRS Consolidated statement of cash flows © Amadeus IT Group and its affiliates and subsidiaries €millions Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change Operating income 476.3 446.6 6.7% 938.1 868.1 8.1% Depreciation and amortization 171.3 172.0 (0.4%) 337.9 331.9 1.8% Operating income before changes in operating assets and liabilities and taxes paid 647.7 618.6 4.7% 1,276.0 1,200.0 6.3% Changes in operating assets and liabilities 483.0 (118.1) 23.1% (254.1) (198.4) 28.2% Taxes paid (101.6) (114.2) (11.0%) (136.2) (128.5) 6.0% Cash flows from operating activities 400.7 386.3 3.7% 885.7 873.1 1.4% Payments for the acquisition of PP&E (12.0) (10.0) 20.1% (27.6) (22.7) 21.6% Payments for the acquisition of intangible assets (173.9) (171.0) 1.7% (366.0) (317.1) 15.4% Payments for the acquisition of subsidiaries or associates, net of cash acquired and proceeds on disposal (5.2) (273.3) (98.1%) (19.6) (372.8) (94.7%) Interests received 6.0 8.4 (27.8%) 12.6 22.8 (44.6%) Proceeds from sales of (payments for the acquisition of) securities/fund investments, net 0.0 (25.0) (100.0%) 50.0 (25.0) n.m. Proceeds from disposal of non-current assets 0.1 17.4 (99.5%) 0.2 17.5 (99.0%) Other cash flows from investing activities (14.0) 4.5 n.m. (15.8) 5.9 n.m. Cash flows from investing activities (199.0) (449.0) (55.7%) (366.2) (691.4) (47.0%) Proceeds from (repayments of) borrowings (1.0) (438.4) (99.8%) 498.7 362.6 37.5% Interest paid (20.2) (38.8) (48.0%) (45.5) (53.6) (15.1%) Dividends paid 0.0 0.0 0.0% (221.0) (193.4) 14.3% Payments for the acquisition of treasury shares (399.7) (9.5) n.m. (496.8) (353.8) 40.4% Payments of lease liabilities and others (12.2) (12.2) (0.6%) (36.7) (23.8) 53.9% Other cash flows from financing activities 6.1 0.0 n.m. 6.1 0.0 n.m. Cash flows from financing activities (426.9) (499.0) (14.4%) (295.2) (262.0) 12.7% FX effects on cash and cash equivalent (8.3) 0.4 n.m. (13.4) 2.1 n.m. Net change in cash and cash equivalents (233.6) (561.4) (58.4%) 210.9 (78.2) n.m.
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© Amadeus IT Group and its affiliates and subsidiaries 22 Segment reporting © Amadeus IT Group and its affiliates and subsidiaries €millions H1 2025 H1 2024 Change Air IT Solutions revenue 1,136.0 1,061.0 7.1% Hospitality & Other Solutions revenue 516.0 485.6 6.2% Air Distribution revenue 1,608.0 1,506.0 6.8% Group Revenue 3,260.0 3,052.6 6.8% Air IT Solutions contribution 794.5 757.3 4.9% Hospitality & Other Solutions contribution 174.2 166.2 4.8% Air Distribution contribution 819.2 731.0 12.1% Group Contribution 1,787.9 1,654.5 8.1% Indirect costs (511.9) (454.6) 12.6% Depreciation and amortization (337.9) (331.9) 1.8% Operating income 938.1 868.1 8.1%
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© Amadeus IT Group and its affiliates and subsidiaries 23 • EBITDA corresponds to IFRS Operating income plus Depreciation and amortization. EBITDA margin is the percentage resulting from dividing EBITDA by Revenue. • Adjusted operating income corresponds to IFRS Operating income adjusted for PPA amortization and impairments. Adjusted operating income margin is the percentage resulting from dividing Adjusted operating income by Revenue. • Segment contribution is defined as segment’s revenue less segment’s operating costs. Segment contribution margin is the percentage resulting from dividing Segment contribution by Revenue. • Adjusted profit corresponds to IFRS Profit, after adjusting for the after-tax impact of: (i) PPA amortization and impairments, (ii) non-operating exchange gains (losses), and (iii) other non-operating income (expense). Adjusted EPS - Basic is calculated by dividing the Adjusted profit attributable to the owners of the parent by the weighted average number of ordinary shares issued during the period, excluding weighted average treasury shares. In turn, Adjusted EPS – Diluted is calculated by dividing the Adjusted profit attributable to the owners of the parent plus the convertible bond's discount accounted for in accordance with the effective interest rate method, by the weighted average number of ordinary shares issued during the period, excluding weighted treasury shares plus potentially dilutive ordinary shares. Adjusted profit attributable to the owners of the parent corresponds to IFRS Profit attributable to the owners of the parent, after adjusting for the after-tax impact of: (i) PPA amortization and impairments, (ii) non-operating exchange gains (losses), and (iii) other non-operating income (expense). • Free cash flow is defined as (i) EBITDA, plus (ii) changes in our working capital, minus (iii) capital expenditure, taxes paid and interests and financial fees paid (net of interests received). Change in working capital includes changes in trade receivables, other current assets, trade payables, other current liabilities and other non-current liabilities. It excludes payments of non-financial liabilities from acquired subsidiaries, since they do not form part of Amadeus’ operating activity, as they have been triggered by the M&A transactions. Capital expenditure includes payments for the acquisition of PP&E and intangible assets, as well as for software internally developed, and proceeds from disposal of non-current assets. • Leverage is defined as the net financial debt divided by the last-twelve-month EBITDA, as per credit facility agreements. Financial debt as per our credit facility agreements is calculated as current and non-current debt (as per the financial statements), adjusted for operating lease liabilities (as defined by the previous Lease accounting standard IAS 17, and now considered lease liabilities under IFRS 16), and non-debt items (such as deferred financing fees and accrued interest). Net financial debt is calculated as financial debt as per our credit facility agreements, less cash and cash equivalents and short-term investments. See next slides for reconciliations of APMs to IFRS figures, and section 5.3 of First half 2025 Management Review for further details (link). Alternative Performance Measures
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© Amadeus IT Group and its affiliates and subsidiaries 2424 © Amadeus IT Group and its affiliates and subsidiaries See section 5.3 of First half 2025 Management Review in the CNMV filings section of Amadeus website (link) for further details. Reconciliations of APMs to IFRS figures – Income Statement €millions, unless otherwise stated Q2 2025 Q2 2024 H1 2025 H1 2024 IFRS Operating income 476.3 446.6 938.1 868.1 Depreciation and amortization 171.3 172.0 337.9 331.9 EBITDA 647.7 618.6 1,276.0 1,200.0 Q2 2025 Q2 2024 H1 2025 H1 2024 IFRS Operating income 476.3 446.6 938.1 868.1 PPA amortization 16.3 13.3 33.0 26.5 Impairments 1.6 11.3 1.6 11.3 Adjusted Operating income 494.2 471.1 972.7 905.9 Q2 2025 Q2 2024 H1 2025 H1 2024 IFRS Profit 372.1 334.2 727.4 647.8 PPA amortization (after tax) 12.0 9.8 24.3 19.5 Impairments (after tax) 1.2 8.9 1.2 8.9 FX gains (losses) (after tax) (10.3) 4.2 (14.7) 4.7 Other income (expenses) (after tax) 0.0 0.0 0.6 0.3 Adjusted Profit 374.9 357.0 738.7 681.0 Q2 2025 Q2 2024 H1 2025 H1 2024 IFRS Profit attributable to owners 372.2 334.3 727.4 648.0 PPA amortization (after tax) 12.0 9.8 24.3 19.5 Impairments (after tax) 1.2 8.9 1.2 8.9 FX gains (losses) (after tax) (10.3) 4.2 (14.7) 4.7 Other income (expenses) (after tax) 0.0 0.0 0.6 0.3 Adjusted Profit attributable to owners 375.1 357.2 738.8 681.3 Convertible bond implicit interest 0.0 2.1 1.1 4.1 Adjusted EPS – Basic (€) 0.84 0.82 1.67 1.56 Adjusted EPS – Diluted (€) 0.84 0.80 1.65 1.52
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© Amadeus IT Group and its affiliates and subsidiaries 2525 © Amadeus IT Group and its affiliates and subsidiaries See section 5.3 of First half 2025 Management Review in the CNMV filings section of Amadeus website (link) for further details. Reconciliations of APMs to IFRS figures (€millions) Reconciliation of net debt Jun 30, 2025 Dec 31, 2024 Current debt 73.4 803.9 Non-current debt 3,060.3 2,571.8 Financial debt per consolidated financial statements 3,133.7 3,375.7 Operating lease liabilities (132.8) (142.6) Interest payable (25.8) (30.2) Convertible bonds 0.0 2.2 Deferred financing fees and IRS (0.2) 5.3 Financial debt per credit facility agreements 2,974.9 3,210.4 Reconciliation of Free cash flow Q2 2025 Q2 2024 H1 2025 H1 2024 Cash flows from operating activities 400.7 386.3 885.7 873.1 Payments for the acquisition of PP&E (12.0) (10.0) (27.6) (22.7) Payments for the acquisition of intangible assets (173.9) (171.0) (366.0) (317.1) Proceeds from disposal of non-current assets 0.1 17.4 0.2 17.5 Interest paid (20.2) (38.8) (45.5) (53.6) Interests received 6.0 8.4 12.6 22.8 Proceeds from interest rate derivative agreements 6.1 0.0 6.1 0.0 M&A related effects 0.0 2.1 3.1 10.3 Free Cash Flow 206.8 194.2 468.6 530.3
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© Amadeus IT Group and its affiliates and subsidiaries 26 • “ACRS”: stands for “Amadeus Central Reservation System” • “AD”: refers to our operating segment Air Distribution • “AI”: stands for “Artificial Intelligence” • “AITS”: refers to our operating segment Air IT Solutions • “APAC”: stands for “Asia Pacific” • “APM”: stands for “Alternative performance measure” • “cc”: stands for “Constant currency” • “CESE”: stands for “Central, Eastern and Southern Europe” • “D&A”: stands for “depreciation and amortization” • “EBITDA”: stands for “Earnings Before Interest, Taxes and D&A” • “EBIT”: stands for “Earnings Before Interest and Taxes”, also called Operating income • “EPS”: stands for “Earnings Per Share” • “FCF”: stands for “Free Cash Flow” • “FX”: stands for “Foreign Exchange” • “FY”: stands for “Full Year” • “HOS”: refers to our operating segment Hospitality & Other Solutions • “IFRS”: stands for “International Financial Reporting Standards” Key terms • “LCC”: stands for “Low cost carrier” • “LATAM”: stands for “Latin America” • “M&A”: stands for “Mergers and acquisitions” • “MEA”: stands for “Middle East and Africa” • “NA”: stands for “North America” • “NDC”: stands for “New Distribution Capability”. • “PB”: stands for “Passenger Boarded” • “p.p.”: stands for “percentage point” • “PPA”: stands for “Purchase Price Allocation” • “PP&E”: stands for “Property, Plant and Equipment” • “PY”: stands for “Previous Year” • “R&D”: stands for “Research and Development” • “WE”: stands for “Western Europe” • “XPP”: stands for “Xchange Payment Platform” • “YTD”: stands for “Year-to-Date”
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© Amadeus IT Group and its affiliates and subsidiaries Thank you. 27