Amadeus: a reassuring first quarter 2001
The publication of Amadeus first quarter 2001 results has reassured the stock exchange market which feared the negative influence of a slowing American market with the cut in business trips among others. Amadeus has shown that they could meet their sale expectations for this period: the group has generated a net income of 54.5 million euros, rising by 9.1% compared to last year with an EBE (exploitation gross surplus) rising by 20.3% (129.7 million euros). The first quarter 2001 turnover is up to 482.2 million euros, rising by 22.6% compared to the first quarter 2000.Most of this income rises comes from providing computer services to British Airways as well as from the acquisition in November 2000 of an American travel company, Vacation.com which bets on the Net with 8.400 north-American agencies. ”We are on the right way to reach our goal of a 16% to 20% growth for year 2001”, José Antonio Tazon, the CEO, has declared.