Amadeus Annual Report 2010 - Investor relations at Amadeus

AMADEUS IT HOLDING, S.A. AND SUBSIDIARIES
DIRECTORS’ REPORT FOR THE YEAR 2010
2. Consolidated financial ial statements
2.1 Group income statement
Q4 Q4 % Full Year Full Year %
Figures in million euros 2010 (1) 2009 (2) Change (3) 2010 (1) 2009 (2) Change (3)
Revenue 607.5 576.7 5.3% 2,593.6 2,347.5 10.5%
Cost of revenue (159.7) (152.3) 4.8% (653.3) (600.5) 8.8%
Personnel and related expenses (169.0) (152.7) 10.7% (639.9) (588.1) 8.8%
Depreciation and amortization (92.7) (107.0) (13.4%) (342.2) (345.7) (1.0%)
Other operating expenses (89.7) (87.6) 2.4% (320.7) (294.0) 9.1%
Operating income 96.4 77.1 25.1% 637.4 519.1 22.8%
Interest income 1.5 1.0 52.9% 3.9 6.0 (34.3%)
Interest expense (62.6) (59.4) 5.4% (261.3) (248.0) 5.4%
Changes in fair value of financial instruments 8.6 7.7 11.8% 44.7 58.5 (23.6%)
Exchange gains / (losses) (0.8) (1.7) (52.5%) (5.8) 7.1 n.m.
Net financial expense (53.4) (52.5) 1.7% (218.5) (176.4) 23.8%
Other income / (expense) 2.4 (0.8) n.m. 1.9 (0.8) n.m.
Profit before income taxes 45.5 23.7 91.7% 420.9 341.8 23.1%
Income taxes (5.5) 8.9 n.m. (121.9) (92.9) 31.2%
Profit after taxes 40.0 32.7 22.5% 299.0 249.0 20.1%
Share in profit / (losses) from associates and JVs 2.3 1.5 52.1% 5.7 2.5 133.5%
Profit for the period from continuing operations 42.3 34.1 23.8% 304.7 251.4 21.2%
Profit for the period from discontinued operations 60.3 4.5 1,250.7% 79.0 17.2 358.2%
Profit for the period 102.5 38.6 165.6% 383.8 268.7 42.8%
(1) 2010 figures adjusted to exclude extraordinary IPO costs
(2) 2009 figures estimated assuming the application of IFRIC 18 during the period. Non-audited figures
(3) Calculated based on 2010 figures adjusted to exclude extraordinary IPO costs and 2009 figures estimated assuming the application
of IFRIC 18 during the period
Extraordinary costs related to the Initial Public Offering
On April 29 Amadeus began trading on the Spanish Stock Exchanges. The company incurred
extraordinary costs in relation to the offering that impacted the figures for 2010, and, to a
lesser extent, 2009. For the purposes of comparability with previous periods, the figures for
2009 and 2010 shown in this report have been adjusted to exclude such costs.
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