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Amadeus IT Group SA A - Stock Quote AMS

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Morningstar's Amadeus IT Group SA A Stock Analysis

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Amadeus' Advantaged Platform Seeing Increased Demand, Boosted by a Return of Business Travel

Dan Wasiolek Senior Equity Analyst

Business Strategy and Outlook

| Dan Wasiolek |

While Amadeus still stands to see material near-term corporate and European demand headwinds from the coronavirus and geopolitical conflict, we expect its leadership position in global distribution systems, or GDS, to endure during the next several years, driven by its leading network of airline content and travel agency customers as well as its healthy position in software solutions for these carriers and agents. Amadeus is the largest of the three GDS operators (narrow-moat Sabre is number two, followed by privately held Travelport) that control nearly 100% of market volume.

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Amadeus IT Group SA A's Company Profile

Business Description

Among the top three operators, Amadeus' 40%-plus market share in air global distribution system bookings is the largest in the industry. The GDS segment represents 56% of total prepandemic revenue (2019). The company has a growing IT solutions division (44% of 2019 revenue) that addresses the airline, airport, rail, hotel, and business intelligence markets. Transaction fees, which are tied to volume and not price, account for the bulk of revenue and profits.

Salvador de Madariaga, 1
Madrid, 28027, Spain
T +34 915820100
Sector Consumer Cyclical
Industry Travel Services
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 15,755