Amadeus has said it increased research and development (R&D) investment in the first half of 2023.
Reporting financial results for the period ended June 30, the technology and distribution company president and CEO Luis Maroto said the company’s R&D investment had increased 20% year on year.
In 2022, the company's gross investment in R&D exceeded €1 billion for the first time.
“Our key areas of focus include the evolution of our hospitality platform, our partnership with Microsoft and our shift to the cloud, new customer implementations, NDC-related solutions and capabilities and portfolio enhancement and expansion.”
Amadeus announced its partnership with Microsoft in February 2021, saying its move to the cloud would take three to five years.
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Later that year the company laid out some of the areas it was working on with Microsoft, including data, disruption, boosting productivity in corporate travel and cybersecurity.
Revenue for the quarter was reported as €1.4 billion, up 17% on the same period in 2022 with EBITDA up from €445 million in Q2 2022 to €536 million in 2023.
Adjusted profit for the quarter increased 40% to €287 million year over year.
Air distribution revenue increased 15% in the quarter to €682 million compared with €592 million year over year while Air IT solutions revenue increased almost 19% to €478 million.
Revenue for the hospitality and other business unit increased 17% to €222 million.
Maroto said: “Each of our reported segments delivered strong operating performances during the first half of the year, supported by the continued strengthening of the travel industry through the second quarter. North America is performing particularly well as a region, with our passengers boarded and bookings expanding relative to 2019.”