Amadeus IT Group
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Amadeus IT Group (AMS) investor relations material

Amadeus IT Group Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary27 Feb, 2026

Executive summary

  • Revenue grew 9% year-over-year to €6,517 million at constant currency, with adjusted EBIT up 10% and profit up 7%; strong Q4 and full-year results delivered on outlook.

  • Free cash flow reached €1.3 billion, up 7% excluding non-recurring items, and a €1.3 billion share buyback was completed, with a new €500 million program announced for 2026.

  • Major commercial wins included Lufthansa Group, TUI, Volotea, Marriott, Accor, and Direct Travel, with continued expansion of partnerships and technology leadership.

  • Over €1.4 billion invested in R&D (22% of revenue), supporting AI initiatives, cloud migration, and innovation.

  • Announced midterm outlook targeting high single-digit revenue growth, low double-digit EPS growth, and high single-digit free cash flow growth.

Financial highlights

  • FY2025 revenue reached €6,517 million, up 6% (9% at constant currency); adjusted EBIT was €1,894 million, up 10% at constant currency.

  • Adjusted EBIT margin expanded to 29.1%, up from 28.3% in 2024.

  • Free cash flow was €1,302 million, up 7% excluding non-recurring items; cash conversion at 94%.

  • Leverage at 0.9x net debt/EBITDA; net financial debt at €2,141 million.

  • Dividend payout ratio set at 50% of profit; total 2025 dividend proposed at €664.6 million.

Outlook and guidance

  • 2026 guidance: high single-digit group revenue growth, stable adjusted EBIT margin, low double-digit adjusted diluted EPS growth, and €1.35–€1.45 billion free cash flow.

  • Dividend at the top end of policy (~€700 million) and new €500 million share repurchase program for 2026.

  • Midterm (2026–2028): high single-digit revenue and FCF CAGR, margin expansion, low double-digit EPS CAGR.

R&D investment impact on competitive edge?
Explain AITS 2026 margin dilution drivers.
What is the broader impact of key commercial wins?
Nevio/Stratos adoption impact on RPP?
New share buyback's role in mid-term EPS growth?
What drove Q4 revenue acceleration?
AI's impact on R&D investment levels?
Nevio pipeline outlook and growth drivers?
How will Amadeus monetize airline revenue gains?
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Frequently asked questions

Amadeus IT Group SA, provides technology solutions to the travel and tourism industry worldwide. It facilitates the distribution of travel products and provision of technology solutions for travel providers and travel agencies. The company offers Amadeus system, an advanced temporary booking facility solution; Amadeus Selling Platform that offers functions for searching and booking flights, calculating tickets, managing reservations and issuing tickets; and Amadeus e-Retail Travel Agencies, which provides end-to-end retailing functionalities.

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