Amadeus IT Group SA

Amadeus is a transaction processor for the global travel and tourism industry. Co. provides transaction processing power and technology solutions to both travel providers (including full service carriers and low-cost airlines, hotels, rail operators, cruise and ferry operators, car rental companies and tour operators) and travel agencies (both online and offline). Co. acts both as a worldwide network connecting travel providers and travel agencies through a processing platform for the distribution of travel products and services (through the Distribution business), and as a provider of a portfolio of IT solutions which automate certain business processes (through the IT solutions business).
  • TickerAMS
  • ISINES0109067019
  • ExchangeMadrid Stock Exchange
  • SectorSoftware & Computer Services
  • CountrySpain

Analysts

Dan Wasiolek

Morningstar | Amadeus Seeing Economic and Geopolitical Pressures, but Competitive Positioning Intact

We expect Amadeus to expand its leadership position in global distribution systems over the next several years, driven by its leading network of airline content and travel agency customers as well as its superior position in technology solutions for these carriers and agents. Of the top three operators that control nearly 100% of market volume, we expect Amadeus' share of GDS bookings to gradually lift to the mid-40s by 2023 from the low 40s in 2018, while its technology share of passenger boardings increases to 50% in 2023 from 44% in 2018.Amadeus’ GDS enjoys a network effect. As more supplie...

Dan Wasiolek

Amadeus Seeing Economic and Geopolitical Pressures, but Competitive Positioning Intact

Amadeus reported solid first-quarter distribution (60% of total sales) results with 1.6% air booking growth, above the 0% market level (narrow-moat peer Sabre posted 2.7% total travel booking growth) that slowed from the 1.1% lift seen last quarter, as geopolitical and economic factors weighed on results. Meanwhile, the company's passengers boarded over its IT software (40% of total sales) saw solid 6% organic growth (Sabre saw only 3.3% organic boarding growth, due to temporary customer disrupt...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/09/2019

...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/05/2019

...

Charles Lepetitpas ...
  • Yan Derocles

Amadeus IT Holding SA : GDS rallying and IT gaining in maturity

>Q1 2019 EPS 1.3% higher than forecasts - Amadeus provided reassurance after Sabre's cautious comments. Q1 2019 EBITDA rose 13.8% to € 599.8m (1.1% ahead of the company-compiled consensus) on sales growth of 14.6% to € 1,409.9m. Over and above the unquantified contribution from the consolidation of TravelClick, the quarter was buoyed by: i/ the noted resumption in market share gains in GDS; ii/ a rise in unit fees in distribution (4%) buoyed by a favourable mix (fewer...

Amadeus IT Group S.A. - September 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Amadeus IT Group S.A.: Update following the acquisition of TravelClick

Our credit view of Amadeus, covering its strong performance and market positions, industry disintermediation and technological risks, and expected leverage after the TravelClick acquisition

Amadeus IT Group S.A. - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Amadeus IT Group S.A.: Amadeus’ acquisition of TravelClick will accelerate its hospitality segment’s expansion, a credit positive

The acquisition will create substantial cross-selling opportunities, despite temporarily increasing leverage.

Amadeus IT Group S.A. - March 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Dan Wasiolek

Morningstar | Amadeus Seeing Economic and Geopolitical Pressures, but Competitive Positioning Intact

We expect Amadeus to expand its leadership position in global distribution systems over the next several years, driven by its leading network of airline content and travel agency customers as well as its superior position in technology solutions for these carriers and agents. Of the top three operators that control nearly 100% of market volume, we expect Amadeus' share of GDS bookings to gradually lift to the mid-40s by 2023 from the low 40s in 2018, while its technology share of passenger boardings increases to 50% in 2023 from 44% in 2018.Amadeus’ GDS enjoys a network effect. As more supplie...

Dan Wasiolek

Amadeus Seeing Economic and Geopolitical Pressures, but Competitive Positioning Intact

Amadeus reported solid first-quarter distribution (60% of total sales) results with 1.6% air booking growth, above the 0% market level (narrow-moat peer Sabre posted 2.7% total travel booking growth) that slowed from the 1.1% lift seen last quarter, as geopolitical and economic factors weighed on results. Meanwhile, the company's passengers boarded over its IT software (40% of total sales) saw solid 6% organic growth (Sabre saw only 3.3% organic boarding growth, due to temporary customer disrupt...

Charles Lepetitpas ...
  • Yan Derocles

Amadeus IT Holding SA : GDS rallying and IT gaining in maturity

>Q1 2019 EPS 1.3% higher than forecasts - Amadeus provided reassurance after Sabre's cautious comments. Q1 2019 EBITDA rose 13.8% to € 599.8m (1.1% ahead of the company-compiled consensus) on sales growth of 14.6% to € 1,409.9m. Over and above the unquantified contribution from the consolidation of TravelClick, the quarter was buoyed by: i/ the noted resumption in market share gains in GDS; ii/ a rise in unit fees in distribution (4%) buoyed by a favourable mix (fewer...

Charles Lepetitpas ...
  • Yan Derocles

Amadeus IT Holding SA : Le GDS se redresse et l’IT gagne en maturité

>Un T1 2019 1.3% au-dessus des attentes au niveau des BPA - Amadeus a rassuré après les commentaires prudents de Sabre. Sur le T1 2019, l’EBITDA affiche une croissance de 13.8% à 599.8 M€ (1.1% au-delà des attentes du consensus compilé par la société) pour des ventes en hausse de 14.6% à 1 409.9 M€. Au-delà de l’apport non quantifié de la consolidation de TravelClick, le trimestre a bénéficié i/ d’un retour remarqué à des prises de parts de marché dans le GDS, ii/ d’u...

Dan Wasiolek

Morningstar | Amadeus Sees Solid 1Q Results, Despite Economic and Geopolitical Factors Weight; Shares Overvalued

Amadeus reported solid first-quarter distribution (60% of total sales) results with 1.6% air booking growth, above the 0% market level (narrow-moat peer Sabre posted 2.7% total travel booking growth) that slowed from the 1.1% lift seen last quarter, as geopolitical and economic factors weighed on results. Meanwhile, the company's passengers boarded over its IT software (40% of total sales) saw solid 6% organic growth (Sabre saw only 3.3% organic boarding growth, due to temporary customer disruptions). Overall, Amadeus posted revenue and EBITDA growth of 14% and 11%, respectively, tracking near...

1 director sold

A director at Amadeus It Group S.A. sold 25,000 shares at 69.278EUR and the significance rating of the trade was 74/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names o...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/09/2019

...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/05/2019

...

Alain William ...
  • Benoit Valleaux
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Samantha Jeary
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/19/2019

In spite of a thorough restructuring programme (operational and financial), Veolia’s valuation multiples remain close to their average historic levels. The group has significantly reduced its areas of industrial risk and is benefiting from its revamped commercial positioning. Optimisation is set to continue in the medium term and should drive performance, along with bolt-on acquisitions. Whilst there is a risk of macroeconomic slowdown, this is yet to be reflected in volumes. The valu...

Charles Lepetitpas ...
  • Jerôme Bodin
  • Nicolas David
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 02/19/2019

...

Alain William ...
  • Benoit Valleaux
  • Cecile De Coincy
  • Fehmi Ben Naamane
  • Johanna Jourdain
  • Michael Foundoukidis
  • Olfa Taamallah
  • Pierre Tegner
  • Samantha Jeary
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 19/02/2019

En dépit d’une restructuration en profondeur (opérationnelle et financière), les multiples de valorisation de Veolia demeurent proches des niveaux historiques moyens. Le groupe a significativement réduit ses zones de risques industriels et bénéficie de son positionnement commercial renouvelé. L’optimisation va se poursuivre sur le moyen terme et alimenter la performance, avec une croissance externe ciblée. Si un risque de ralentissement macroéconomique existe, il ne se reflète pas enc...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

Sabre Corporation - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Sabre Corporation Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Sabre Corporation since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key...

MarketLine Department

TripAdvisor Inc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's TripAdvisor Inc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by TripAdvisor Inc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Hig...

Amadeus Holding It – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Rapport 21/06/2018

In item 8, shareholders are called to an advisory vote on the Annual Remuneration Report, including the remuneration policy and the amounts paid in 2017. We regret that the CEO's base salary was increased by 5% in 2018, without a clear justification provided by the Board. Furthermore, the CEO's variable remuneration is capped at 350% of the base salary (150% the annual cash bonus and 200% a Performance Share Plan), exceeding the ECGS voting policy limit of 300%, and the Board has the discretionary power to increase the CEO's long-term incentive up to 400% of his base salary. Also taking into a...

Valérie GASTALDY

Analyse court terme - AMADEUS IT HOLDING SA-A SHS : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 66,80 €.

Valérie GASTALDY

Short term view - AMADEUS IT HOLDING SA-A SHS : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €66.80.

Valérie GASTALDY

Analyse court terme - AMADEUS IT HOLDING SA-A SHS : Les cours baissent.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

Valérie GASTALDY

Short term view - AMADEUS IT HOLDING SA-A SHS : Falling prices.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Valérie GASTALDY

Analyse moyen terme - AMADEUS IT HOLDING SA-A SHS : La correction gagne en vigueur.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 66,88 €.

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