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

Laurent ALBIE

Short term view - AMADEUS IT HOLDING SA-A SHS : The ascending support has been reached.

In our previous short term analysis (07/07/2016), we were positive. We remain positive with a target at 45,72 € and an invalidation level at 42,75 €. The bullish trend resumes after the consolidation. Arguments : - The support has been reached, it causes the bounce. - The...

Dan Wasiolek

Amadeus Continues to Outpace the Industry Roughly In Line With Expectations; Shares Overvalued

Amadeus distribution revenue (70% of total sales) gained share in the third quarter and is tracking in line with our 2016 forecast. Meanwhile, the company’s IT division (30% of total sales) continues to see healthy adoption, tracking slightly ahead of our estimate for the year. We may increase our EUR 37 fair value estimate by EUR 1 to account for the time value of money and marginally higher IT revenue and currency benefit in 2016, leaving shares overvalued. We plan to maintain Amadeus’s narrow...

Valérie GASTALDY

Medium term view - AMADEUS IT HOLDING SA-A SHS : Pulling back to the rectangle

The trend is momentarily interrupted by a consolidation on a shorter time horizon but prices remain above the invalidation level at €37.15. It can resume at anytime towards the target at €50.66.Arguments :- The moving average is supporting prices.- Prices are pulling back to the...

Valérie GASTALDY

Analyse moyen terme - AMADEUS IT HOLDING SA-A SHS : Pull-back sur le rectangle

La tendance est momentanément interrompue par une correction sur l'horizon de temps inférieur, mais les prix restent au-dessus du seuil d'invalidation à 37,15 €. Elle peut donc rependre à tout moment vers l'objectif à 50,66 €.Arguments :- La moyenne mobile sert de support.- Les...

Dan Wasiolek

Amadeus' network and switching cost advantages intact through first nine months of 2016.

Amadeus distribution revenue (70% of total sales) gained share in the third quarter and is tracking in line with our 2016 forecast. Meanwhile, the company’s IT division (30% of total sales) continues to see healthy adoption, tracking slightly ahead of our estimate for the year. We may increase our EUR 37 fair value estimate by EUR 1 to account for the time value of money and marginally higher IT revenue and currency benefit in 2016, leaving shares overvalued. We plan to maintain Amadeus’s narrow...

Amadeus IT Group S.A. - March 2017 (LTM): Peer Snapshot

Peer Snapshot:  Amadeus IT Group S.A. - March 2017 (LTM) 5 June 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16

Amadeus IT Group S.A. - June 2017 (LTM): Peer Snapshot

Peer Snapshot:  Amadeus IT Group S.A. - June 2017 (LTM) 5 September 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17

Amadeus IT Group S.A.: Update to Credit Opinion

CORPORATES CREDIT OPINION 7 November 2017 Update RATINGS Amadeus IT Group S.A. Domicile Spain Long Term Rating Baa2 Type LT Issuer Rating - Dom Curr Outlook Stable Please see the  ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Martin Hallmark +44.20.7772.1953

Amadeus IT Group S.A. - September 2017 (LTM): Peer Snapshot

Peer Snapshot:  Amadeus IT Group S.A. - September 2017 (LTM) 15 December 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Sep-17

Amadeus IT Group S.A. - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Dan Wasiolek

Amadeus Continues to Outpace the Industry Roughly In Line With Expectations; Shares Overvalued

Amadeus distribution revenue (70% of total sales) gained share in the third quarter and is tracking in line with our 2016 forecast. Meanwhile, the company’s IT division (30% of total sales) continues to see healthy adoption, tracking slightly ahead of our estimate for the year. We may increase our EUR 37 fair value estimate by EUR 1 to account for the time value of money and marginally higher IT revenue and currency benefit in 2016, leaving shares overvalued. We plan to maintain Amadeus’s narrow...

Dan Wasiolek

Amadeus' network and switching cost advantages intact through first nine months of 2016.

Amadeus distribution revenue (70% of total sales) gained share in the third quarter and is tracking in line with our 2016 forecast. Meanwhile, the company’s IT division (30% of total sales) continues to see healthy adoption, tracking slightly ahead of our estimate for the year. We may increase our EUR 37 fair value estimate by EUR 1 to account for the time value of money and marginally higher IT revenue and currency benefit in 2016, leaving shares overvalued. We plan to maintain Amadeus’s narrow...

Dan Wasiolek

Amadeus’ Network, Efficient Scale, and Switching Cost Advantages Intact After Solid 2016

Narrow-moat Amadeus reported solid 2016 results that were in line with our model. That said, we plan to increase our EUR 37.50 fair value estimate by midsingle digits because of the time value of money, higher air traffic industry growth in 2017, and stronger contribution margins in the company’s IT segment next year. We see shares of Amadeus as slightly overvalued, but narrow-moat Travelport, which trades at a more than 20% discount to our fair value estimate, has an attractive margin of safety...

Dan Wasiolek

Amadeus' network and switching cost advantages are intact after a solid 2016.

Narrow-moat Amadeus reported solid 2016 results that were in line with our model. That said, we plan to increase our EUR 37.50 fair value estimate by midsingle digits because of the time value of money, higher air traffic industry growth in 2017, and stronger contribution margins in the company’s IT segment next year. We see shares of Amadeus as slightly overvalued, but narrow-moat Travelport, which trades at a more than 20% discount to our fair value estimate, has an attractive margin of safety...

Dan Wasiolek

Amadeus Posts Solid First-Quarter Results in a Strong Travel Environment; Shares Overvalued

We saw two main takeaways from narrow-moat Amadeus’ first-quarter sales update. One, global distribution system (GDS) industry growth of 6.7% was robust and tracked ahead of our forecast 2017 2.3% increase, which we plan to lift to around 4% (the first-quarter benefited from calendar). Two, market share in Amadeus’ GDS segment (70% of total revenue) reached 43.5%, up 90 basis points versus the prior year, driven by North and Latin American markets. We plan to maintain our 2017 GDS share gain for...

1 director sold

A director at Amadeus It Group S.A. sold 10,000 shares at 72.000EUR and the significance rating of the trade was 70/100. 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...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Bruno Hareng
  • Delphine Brault
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Henning Steinbrink
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Valentin Pernet
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/07/2018

...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Bruno Hareng
  • Delphine Brault
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Henning Steinbrink
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Valentin Pernet
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/20/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Eric Beaudet
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard, CFA
  • Olivier Lebrun
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Valentin Pernet
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/07/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Eric Beaudet
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard, CFA
  • Olivier Lebrun
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Valentin Pernet
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/30/2018

...

Christophe-Raphaël Ganet ...
  • François Maury
  • Georges Dieng
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/09/2018

...

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...

Amadeus IT Group, S.A.

Amadeus IT Group, S.A.

Amadeus IT Group, S.A.

Amadeus IT Group, S.A.

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...

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...

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)

Amadeus IT - AGM 18 June 2019

In item 5, the Board of Directors seeks authorization to reduce the share capital by redeeming 7'554'070 treasury shares currently held by the Company (1.7% of issued share capital). We regret that the Board has not provided a clear justification for the requested authorization, and we note that 33% of the annual bonus and 50% of the long-term incentive depend on earnings per share (EPS). As concerns may arise over the possibility to use the authorization to increase the executive variable remuneration, we recommend opposition. In item 8, shareholders are called to an advisory vote on the Ann...

Laurent ALBIE

Short term view - AMADEUS IT HOLDING SA-A SHS : The ascending support has been reached.

In our previous short term analysis (07/07/2016), we were positive. We remain positive with a target at 45,72 € and an invalidation level at 42,75 €. The bullish trend resumes after the consolidation. Arguments : - The support has been reached, it causes the bounce. - The...

Valérie GASTALDY

Medium term view - AMADEUS IT HOLDING SA-A SHS : Pulling back to the rectangle

The trend is momentarily interrupted by a consolidation on a shorter time horizon but prices remain above the invalidation level at €37.15. It can resume at anytime towards the target at €50.66.Arguments :- The moving average is supporting prices.- Prices are pulling back to the...

Valérie GASTALDY

Analyse moyen terme - AMADEUS IT HOLDING SA-A SHS : Pull-back sur le rectangle

La tendance est momentanément interrompue par une correction sur l'horizon de temps inférieur, mais les prix restent au-dessus du seuil d'invalidation à 37,15 €. Elle peut donc rependre à tout moment vers l'objectif à 50,66 €.Arguments :- La moyenne mobile sert de support.- Les...

Laurent ALBIE

Analyse court terme - AMADEUS IT HOLDING SA-A SHS : La résistance n'est pas atteinte.

Notre précédent avis était neutre. Nous sommes maintenant négatif avec un objectif à 40 € et un niveau d'invalidation à 43,3 €. La tendance baissière est interrompue par un pull-back. Arguments : - La résistance n'est pas atteinte.

Laurent ALBIE

Short term view - AMADEUS IT HOLDING SA-A SHS : The resistance has not been reached yet.

Our previous opinion was neutral. We turn negative with a target at 40 € and an invalidation level at 43,3 €. The bearish trend is interrupted by a pull-back. Arguments : - The resistance has not been reached yet.

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