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Amadeus Slips To Loss In H1 Hurt By Covid- 19 Travel Shutdown

Amadeus IT Group SA (AMADY.PK,AMADF.PK), a Spanish IT provider for travel and tourism industry, reported Friday that its first-half loss was 196.9 million euros, compared to prior year's profit of 594.4 million euros, severely impacted by COVID- 19 travel shutdown.

Adjusted loss was 89.2 million euros or 0.20 euro per share, compared to profit of 664 million euros or 1.54 euros per share a year ago.

EBITDA decreased 83.6 percent from last year to 194.1 million euros.

Revenue contracted 54.7 percent to 1.28 billion euros from 2.83 billion euros last year.

In Distribution, travel agency bookings fell 78.6 percent, to 65.9 million.

The company noted that since late May, it has begun to see an increasing number of flights being scheduled, and air traffic and bookings have been responding. However, the situation remains highly uncertain.

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