MADRID (dpa-AFX) - Amadeus IT Group SA (AMADY.PK, AMADF.PK), a Spanish IT provider for travel and tourism industry, reported Tuesday that its first-quarter profit fell 60.5 percent to 117.8 million euros from last year's 298.5 million euros.
Adjusted profit was 141.8 million euros, compared to 333.8 million euros a year ago. Adjusted earnings per share were 0.33 euros, compared to last year's 0.77 euros.
EBITDA decreased 41.3 percent to 349.4 million euros from last year's 595.6 million euros. EBITDA margin was 34.2 percent, down from 42.4 percent a year ago.
Revenue fell 27.3 percent to 1.02 billion euros from prior year's 1.41 billion euros. Distribution revenue plunged 45.5 percent, while IT Solutions revenue edged down 0.3 percent.
In the first quarter of 2020, the travel agency air booking industry contracted 46.4 percent as the COVID-19 pandemic caused booking volumes to decline at a strong double-digit rate in all regions.
Luis Maroto, President & CEO of Amadeus, said, 'We are closely monitoring the situation with the COVID-19 pandemic and will adapt our response to it as needed. We are confident in the resilience of the travel sector and in the underlying strength of our company, but the coming months will remain challenging for the whole sector.'
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