Amadeus IT Group SA's adjusted profit more than doubled in the last quarter of 2017 to €269.4 million from €172.9 million in the year-ago period.
Adjusted earnings rose in line to 62 euro cents per share in the fourth quarter of 2017 from 40 cents per share in the same quarter of 2016. The IT provider's profit for the period was €228.4 million, up from €156.6 million in the previous year.
Revenues increased 7.3% to €1.17 billion in the fourth quarter of 2017, from €1.09 billion in the prior year, after being affected by negative foreign exchange rates.
For 2017, Amadeus booked adjusted profit of €1.12 billion, up 22.5% from €911.0 million in 2016. Adjusted EPS grew to €2.55 in 2017 from €2.08 in the prior year. Full-year revenue was 8.5% higher in 2017 at €4.85 billion from €4.47 billion in 2016.
The Amadeus board will propose a gross dividend of €1.135 per share for 2017, an increase of 20.7% year on year. An interim gross dividend of 48 cents per share was paid out in January and the remaining 65.5 cents per share will be paid after shareholder approval.
The board also agreed to repurchase up to €1.00 billion worth of shares. The program will be carried out in two tranches: a first tranche of up to €500 million from Jan. 1 to March 31, 2019, and the second of up to €500 million from April 1, 2019, to March 31, 2020. The second tranche can be canceled at Amadeus' discretion. The repurchased shares will not exceed 25 million in number or 5.69% of the share capital.