Amadeus foresees increasing income 10%-13% this year


Link Securities | Amadeus´ General Assembly agreed, among other things, to reduce the company´s social capital by 75,540.70 euros, through the redemption of 7,554,070 of its own shares currently in the treasury stock, of nominal value of 0.01 euros each one, acquired for redemption through the repurchase programme approved by the Board on 14 December 2017.

The social capital is fixed at 4,312,684.35 euros, and is entirely subscribed and paid in- The social capital consists in 431,268,436 shares each with a nominal value of 0.01 euros, which belong to the same class.
On the other hand, Amadeus´ CEO, Luis Maroto, said that the targets for 2019 remain and the company will continue despite trade and political tensions and the wave of protectionism at a global level. Thus, Amadeus foresees income increasing between 10% and 13% this year and operational cash flow (EBITDA) between 8% and 13%.

Amadeus will generate a free cash flow of between 950 and 1.025 Mn€ this year and will destine between 12% ad 15% of income to capex. In addition, shareholders approved the payment of a gross dividend of 1.175 euros/share charged to 2018, 3.5% more than the previous year. Amadeus already paid out a 0.51 euros/share gross dividend in January and will pay the complementary dividend on 12 July.

We recall that, currently, we recommend Maintain the share in portfolio and an objective price of 68.86 euros per share.

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