Amadeus IT Holding, S.A. and Subsidiaries - Investor relations at ...

AMADEUS IT HOLDING, S.A. AND SUBSIDIARIES
DIRECTORS’ REPORT FOR THE YEAR ENDED DECEMBER 31, 2011
4. Other Financial Information
4.1 Adjusted profit for the period from continuing operations
Figures in million euros
42
Q4 Q4 % Full Year Full Year %
2010 (1)
Change 2011 (1)
2010 (1)
Change
Profit for the period from continuing operations 75.5 42.3 78.5% 466.0 304.7 52.9%
Adjustments
Impact of PPA (2)
12.2 27.6 (55.7%) 49.0 111.4 (56.0%)
Adjustments for mark-to-market (3)
(2.6) (5.5) (52.1%) (19.3) (18.8) 2.3%
Extraordinary items (4)
0.4 (1.7) n.m. (10.2) (1.3) n.m.
Impairments 1.1 5.7 (80.7%) 1.8 7.5 (76.5%)
Adjusted profit for the period from continuing operations 86.6 68.2 27.0% 487.2 403.5 20.7%
(1) Figures adjusted to exclude extraordinary costs related to the IPO
(2) After tax impact of amortisation of intangible assets identified in the purchase price allocation exercise undertaken following the leveraged buy-out
(3) After tax impact of changes in fair value of financial instruments and non-operating exchange gains / (losses)
(4) After tax impact of extraordinary items related to the sale of assets and equity investments, the debt refinancing and the United Airlines contract resolution
Profit from continuing operations (adjusted to exclude extraordinary IPO costs) increased by
78.5%, or €33.2 million, in the fourth quarter of 2011. For the full year, profit from continuing
operations (adjusted to exclude extraordinary IPO costs) increased by 52.9%, or €161.2
million in 2011.
After adjusting for (i) non-recurring items and (ii) accounting charges related to the PPA
(purchase price allocation) amortisation and other mark-to-market items, adjusted profit for
the period (from continuing operations) increased by 27.0% in the fourth quarter of 2011 and
by 20.7%, to €487.2 million, in 2011.
2011 (1)
4.2 Earnings per share from continuing operations (EPS)
Q4 Q4 % Full Year Full Year %
2010 (1)
Change 2011 (1)
2010 (1)
Change
2011 (1)
Weighted average issued shares (m) 447.6 447.6 447.6 421.1
Weighted average treasury shares (m) (2.1) (2.1) (2.1) (2.1)
Outstanding shares (m) 445.5 445.5 445.5 419.0
EPS from continuing operations (euros) (2)
0.17 0.09 82.0% 1.04 0.73 44.0%
Adjusted EPS from continuing operations (euros) (3) 0.20 0.15 28.9% 1.09 0.96 13.6%
Adjusted EPS from continuing operations (euros) (4)
(based on equal number of shares) 0.20 0.15 28.9% 1.09 0.90 20.8%
(1) Figures adjusted to exclude extraordinary costs related to the IPO.
(2) EPS corresponding to the Profit for the period from continuing operations attributable to the parent company (excluding extraordinary
costs related to the IPO).
(3) EPS corresponding to the Adjusted profit for the period from continuing operations attributable to the parent company. Calculated
based on weighted average outstanding shares of the period. Q4 2011 and Q4 2010 adjusted EPS calculated based both on 445.5 million
shares. Adjusted EPS for 2011 and for 2010 calculated based on 445.5 million shares and 419.0 million shares, respectively.
(4) EPS corresponding to the Adjusted profit for the period from continuing operations attributable to the parent company. Both Q4 2011
adjusted EPS and Q4 2010 adjusted EPS calculated based on weighted average outstanding shares of the fourth quarter of 2011 (445.5
million shares). Adjusted EPS for 2011 and for 2010 calculated based on weighted average outstanding shares of 2011 (445.5 million
shares).