Amadeus IT Group (AMS) AGM 2024 summary

Opening remarks and agenda

• AGM held on June 6, 2024, led by CEO Luis Maroto, with a focus on travel industry trends, innovation, and sustainability.

• Agenda included approval of annual accounts, non-financial information, director remuneration, application of results, board re-elections, and executive share plans.

Financial performance review

• 2023 revenues reached €5,441M (+21%), EBITDA €2,094M (+28%), and net profit €1,117M (+68%) versus 2022.

• Free cash flow increased to €1,149M (+43%), with growth across all business lines and continued diversification.

• Distribution business revenues rose 24% to €2,655M; airline technology solutions up 22% to €1,904M; hotel and payments up 14% to €883M.

• R&D investment grew 13% to €1,116M, ranking as the 5th largest software sector investor in Europe.

• 2024 outlook projects group revenue growth of 11–14% and free cash flow of €1,200–1,250M.

Board and executive committee updates

• Separate votes held for re-election of eight board members, including CEO Luis Maroto, each for a one-year term.