Full Year 2025 Amadeus IT Group SA Earnings Call Transcript
Key Points
- Amadeus IT Group SA (AMADF) reported a 10% revenue growth in Q4 and a 9% growth for the full year 2025 at constant currency, driven by strong performance in Airline IT and Hospitality segments.
- The company generated EUR 1.3 billion in free cash flow in 2025, a 7% increase from 2024, excluding nonrecurring impacts.
- Amadeus completed a EUR 1.3 billion share buyback program in Q4 2025, reflecting strong shareholder returns.
- The company continues to invest heavily in R&D, with EUR 1.4 billion deployed in 2025, supporting long-term growth and innovation.
- Amadeus is strategically positioned to leverage AI in the travel ecosystem, enhancing personalization and efficiency, and has completed its cloud migration with partnerships with Google and Microsoft.
- Despite strong financial performance, Amadeus faces challenges from a complex and evolving macroeconomic and geopolitical environment.
- The company's adjusted EBIT margin is expected to remain stable in 2026 due to cloud migration costs, impacting short-term profitability.
- Amadeus' free cash flow in 2025 was slightly below the previous year due to nonrecurring tax-related inflows in 2024.
- The company anticipates a softening in revenue per booking growth in 2026 due to booking mix changes and pricing tailwinds.
- Amadeus' leverage remains at 0.9 times net debt to EBITDA, indicating a cautious approach to balance sheet management despite strong cash generation.
Hello, everyone. We're delighted to be here. Thank you for coming. Welcome to our 2025 results presentation. Our CEO, Luis Maroto, and our CFO, Carol Borg, are going to be presenting on our performance, our key developments, our outlook, and we will follow this with a Q&A session.
We have invited Decius Valmorbida, President of Travel Unit; and Nikolaus Samberger, Senior VP in Technology and Engineering, to join us for the Q&A session. For those of you joining online, please make use of the Q&A functionality on the platform to submit your questions.
And finally, today, we're going to be making forward-looking statements. that may differ materially from actual results. So we ask that you please review the legal disclaimer that we have inserted in our presentation. The presentation has been uploaded to our corporate website. On this note, I'd like to ask Mr.
Luis Maroto, to please join us.
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