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First Quarter 2005 Results
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Facts and Figures

First Quarter 2005 Results
(For the period 1 January to 31 March 2005)

Amadeus continues to grow in first quarter 2005

Total reservations grow 1% to 124.9 million year on year
Total revenue increases 10.3% to EUR 593.2 million year on year
Net income up 6.8% to EUR 74.7 million year on year

Commenting on the results, Amadeus President and CEO José Antonio Tazón said:

"We started the year with a continued steady development of our business, in line with expectations. We have satisfactorily grown revenues and net income year on year despite only a modest 1% increase in overall bookings in this quarter, due in part to Easter week falling in March this year, rather than April in 2004.

"Air bookings grew 1.9% year on year, to 106 million. Of these, over 13% were processed through the online channel, which has grown by 33% compared with a year ago. This is a clear demonstration that our online solutions are meeting the needs of the travel industry as this channel continues to develop.

"We have continued with our strategic diversification, coupled with consolidation of our distribution network in key markets. The integration of Optims, the leading hotel technology company that we recently acquired, is proceeding as planned, bringing us new strengths in the hospitality market. Similarly our distribution companies Amadeus France and Savia Amadeus in Spain and Portugal, which between them handled over 81 million bookings last year, are now being fully integrated into the Amadeus Group after our full acquisition of them in recent months."

For further information please contact:
Edward P. Ross Alejandra Moore Mayorga
Corporate and Marketing Communication Managing Director
Amadeus Grupo Albión
Tel. +34 91 582 0160 Tel. +34 91 531 2388
Fax. +34 91 582 0188 Mobile +34 670 799 335
e-mail eross@amadeus.net, amoore@grupoalbion.net
URL www.amadeus.net

Madrid, 5 May 2005: Amadeus (MAD: AMS, ISIN: ESO109169013), global leader in technology and distribution solutions for the travel and tourism industry, has today reported its first quarter results for the period ended 31 March 2005.

First Quarter 2005 Results (to 31 March 2005)

(in million EUR) Q1 2005 Q1 2004 Growth %
Total Bookings (million) 124.9 124.0 1%
Revenue 593.2 538.0 10%
EBITDA 159.9 172.8 -7.5%
Net Income 74.7 69.9 6.8%
EBITDA = operating income + operating depreciation and amortisation

Total revenue for the first quarter ended 31 March 2005 was EUR 593.2 million, an increase of 10% over the same period in 2004, while total bookings processed through the Amadeus system in the quarter rose by 1% to 124.9 million. Air bookings grew 1.9% year on year, to 106 million; online air bookings grew 33% in the same period, to 14.1 million, now representing over 13% of total air bookings.

Operating income (EBIT) was EUR 113.7 million, slipping 10% on the first quarter of 2004 largely due to the consolidation of OPODO, but showed a significant increase on the fourth quarter of 2004 when Amadeus posted EBIT of EUR 39.9 million. EBITDA for the quarter was EUR 159.9 million, a decrease of 7.5% over the equivalent period in 2004, also impacted by OPODO.

Net income for the quarter showed solid growth at EUR 74.7 million, an increase of 6.8% over the same period a year ago.

First Quarter 2005 - Operating Highlights
Travel Distribution (to travel agents and airline sales offices)
In the first three months of the year, Amadeus consolidated the ownership of its distribution network in Spain and Portugal, SAVIA Amadeus. This forms part of a global strategy to consolidate certain regional operations and will enable Amadeus to adapt faster to industry changes in this strategic region while permitting the Iberian market to capitalise on Amadeus' global development expertise. The Amadeus System connects more than 8,000 Spanish travel agencies, that processed nearly 32 million bookings in 2004. Last year, 558 additional Spanish travel agencies connected to the Amadeus distribution network.

During the quarter we continued with the full integration of Amadeus France.

Also in this period, Amadeus announced that it has deployed Vista and its sister product, Pro Web, at 100,000 points of sale around the world. Amadeus Vista is the first browser-based point of sale platform to allow travel professionals to focus on selling travel and developing customer relations instead of just making bookings. By the end of 2004, implementations had reached 94,500, 83.5% more than a year earlier (51,500) and in March topped 100,000. Amadeus now has a browser-based sales solution in operation in 90 markets, across 5 continents.

Air
During the first quarter, Amadeus successfully rolled out the latest elements of its value-based pricing policy as announced in November 2004. The enhanced 2005 pricing scheme further recognises airlines' diverse commercial strategies and the various benefits that the Amadeus distribution channel brings to the world's airlines.

At the same time, fifty airlines across Europe, Middle-East and Africa signed up to the Amadeus Full Content Option. Under this option, airlines agree to give Amadeus subscribers low fares, full schedules, last seat availability and associated inventory for distribution through all channels. These airlines join the world's largest airlines, among them American Airlines, United Airlines, Delta Air Lines, British Airways and Continental Airlines, in guaranteeing their web fares through Amadeus.

Cars
Amadeus signed an exclusive deal with holiday autos, the world's largest leisure car rental broker. The company's 750,000 bookable cars at 4,000 worldwide locations will become available in Amadeus Cars at the Complete Access Plus level of connectivity. Amadeus is the only global travel distributor to sign a global agreement with holiday autos.

Cruise
Thomson Cruise Lines and Clipper Cruises (which specialises in cruises on small ships) were added to the Amadeus system.

Hotels
In February Amadeus announced the successful completion of the acquisition process of Optims, the leading European supplier of IT services to the hospitality industry. After the proven success of the partnership, formally established through the acquisition of an initial 30% shareholding in September 2003, Amadeus and Optims have now laid the foundations for an even closer cooperation to deliver leading-edge technology to their hospitality clients. Amadeus and Optims are able to provide a complete suite of products and services for the distribution and management of hotel rooms, covering all processes from booking to check out. Amadeus and Optims provide hoteliers with Property Management Systems, Central Reservation Systems, Revenue Management Solutions and access to a wide range of distribution channels.

E-Commerce (Amadeus e-Travel)
Amadeus e-Travel bookings grew by 47% during the first quarter 2005 compared to the same period last year. Bookings processed for over 65 airline customers through Amadeus e-Travel ®Planitgo, the most widely adopted internet self-service engine, grew by 48% year on year.

e-Travel ®Aergo, e-Travel's global corporate booking solution, experienced 45% growth in the first quarter 2005, compared to the same period in 2004. During the quarter, Aergo was chosen by the Asian Development Bank (ADB) to manage corporate travel for over 2,000 employees across 50 countries.

e-Travel and TQ3 Travel Solutions extended a global reseller agreement by 3.5 years, following the adoption of Aergo and SAP Travel Management (SAP TM) powered by e-Travel, by several of TQ3's multinational customers including Agfa (Aergo), Boehringer Ingelheim and Commerzbank (SAP TM), and the roll-out of TQ3 Business across Europe.

In Brazil, a dedicated e-Travel unit was set up to support online corporate travel management in Latin America, with customers including CEMEX and Volkswagen Mexico. This unit joins others which have been set up in Australia, Bangkok, Belgium, France, Germany, Italy, the Netherlands, the UK, the US, Scandinavia and Switzerland.

Airline IT Services
Towards the end of the first quarter 2005, Amadeus announced that TAROM, Romania's national airline, had successfully moved its sales and reservations to Amadeus Altéa Sell.

The implementation came at a key time in the expansion of the Central, Eastern and Southern Europe (CESE) region, where Amadeus processes 57% of travel agency air bookings. The region is home to half a billion people, and includes fast-growing economies. Romania's gross domestic product per head, for example, grew on average 8.3% each year between 2000 and 2003 and Amadeus estimates that by 2020 there will be more arrivals in Eastern than Western Europe.

By adopting Altéa Sell, TAROM is perfectly positioned to take advantage of growth. The airline will share the IT platform for sales and reservations with another 148 airlines and over 66,000 travel agents worldwide. Equally, TAROM will be able to develop commercial partnerships with any of the 148 other airlines using Altéa Sell without developing any technology.

OPODO
In the first quarter of 2005 the pan-European online travel company made two acquisitions: Quest Travel, a UK specialist high street agency; and the French tour operating company Karavel, owner of Promovacances, a leading online travel company in France, whose core expertise is in the pre-packaged holiday market. Promovacances is a well-known and respected brand, established in the French market in 1997, offering great value to travellers to a wide range of destinations and product types.

Opodo continues to build on its strong position in the European online travel market, originally focusing on flight sales, with expansion into hotels and other travel products, and attracting over 7 million unique visitors across its sites every month. Pre-packaged holidays are a key component of Opodo's online offering, with sales having increased by 150% over the last half of 2004 in France alone.


Notes to the Editors:

Amadeus (MAD: AMS)
Amadeus is a global leader in technology and distribution solutions for the travel and tourism industry. Its comprehensive data processing centre serves over 72,000 travel agency locations and some 10,000 airline sales offices, totalling around 347,000 points of sale located in over 215 markets worldwide.

Through Amadeus, travel agencies and airline offices can make bookings on 95 per cent of the world's scheduled airline seats. The system also provides access to over 54,100 hotel properties, some 43 car rental companies serving over 30,000 locations, as well as ferry, rail, cruise, tour operators and insurance companies.

Amadeus is a leading IT solutions provider to the airline industry; 150 airlines use Amadeus' Altéa Sell as the sales and reservation system in their offices, to provide passengers with superior and seamless service at optimal cost.

Amadeus' new generation Customer Management Solutions include Altéa Plan (inventory management system) and Altéa Fly (departure control system). British Airways, Qantas and Finnair are the first customers to implement these solutions.

e-Travel, Amadeus' e-commerce business unit, is the global leader in online travel technology and corporate travel management solutions. It services travel agencies in 90 countries, and powers the websites of over 300 corporations and more than 70 airlines and hotels.

Amadeus is headquartered in Madrid, Spain and quoted on the Madrid, Paris and Frankfurt stock exchanges. For the year ended 31 December 2004, the company reported revenues of EUR 2,056.7m and net income of EUR 208m. The Amadeus data centre is in Erding (near Munich), Germany and its principal development offices are located in Sophia Antipolis (near Nice), France.

The company has 6,000 employees worldwide, representing 95 nationalities.

More information about Amadeus is available at: www.amadeus.com

Contact details:

Corporate & Marketing Communication
Amadeus
Tel : +34 91 582 0160
Fax : +34 91 582 0188
E-mail : externalcommunication@amadeus.
net

 

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