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
6. Presentation of financial information
The source for the financial information included in this document is the audited consolidated
financial statements of Amadeus IT Holding, S.A. and subsidiaries, which have been
prepared in accordance with International Financial Reporting Standard as adopted by the
European Union.
Certain monetary amounts and other figures included in this report have been subject to
rounding adjustments. Any discrepancies in any tables between the totals and the sums of
the amounts listed are due to rounding.
Sale of Opodo
On June 30, 2011 the Group completed the sale of Opodo Ltd and its subsidiaries. In 2011,
Opodo is presented as a discontinued operation in our Group income statement. Opodo is
also presented as discontinued operation in the 2010 figures of our Group income statement
to allow for comparison. As a result of this sale the Group booked a gain of €270.9 million.
This gain, together with the extraordinary costs related to the sale, are presented within
"Profit from discontinued operations". The figure reported for this gain on disposal could be
subject to change during 2012 as a result of certain adjustments to the purchase price.
One-time payment from United Airlines in relation to the discontinued Altéa contract
On May 6, 2011 Amadeus announced that it had agreed to dissolve a contract under which
United Airlines previously planned to migrate onto the Amadeus Altéa Suite in 2013. United
Airlines agreed to make a one-time payment of $75.0 million to Amadeus for the cancellation
of the IT services agreement. The payment was made effective in Q2 2011 and recognised
(in Euros, in an amount of €51.7 million) under the "Revenue" caption on the consolidated
statement of comprehensive income of our financial statements.
For purposes of comparability with previous periods, this revenue, as well as certain costs of
migration that were incurred in relation to this contract, have been reclassified from revenue
and other operating expenses, respectively, to the Other income / (expense) caption in our
Group income statement shown in this report.
Extraordinary costs related to the Initial Public Offering
On April 29, 2010 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
2011.
For the purposes of comparability with previous periods, the figures for 2010 and 2011 shown
in this report have been adjusted to exclude such costs.
The following table details the extraordinary items related to the IPO that have been excluded
from the figures in this report:
45