gategroup preliminary financial results 2017

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gategroup Holding AG has achieved a robust increase in revenue, EBITDA and EBITDA margin in 2017. The results are based on preliminary financial data for the full-year 2017, subject to final audit. They confirm significant progress towards gategroup’s Gateway 2020 strategy targets.

- Revenues reached CHF 4.6 billion in 2017 (vs. CHF 3.4 billion in 2016, an  increase of 35%)
- EBITDA reached CHF 300 million in 2017 (vs. CHF 200 million in 2016, an increase of 50%); EBITDA margin improved by 60 bps to 6.6%
- Network expanded to 200+ operating units and 60+ countries, the largest in the industry
- Diversified debt portfolio and reduced funding costs through independent  financing
- Successful integration of Servair, strengthening footprint in France and  Africa
- 30-year contract with Asiana Airlines recently announced

In the past year-and-a-half, gategroup has enlarged its customer base by more than 100 new customers, extended contracts with leading airlines worldwide and expanded into new strategic markets. These new markets include France, Africa as well as key locations in Latin America and APAC, such as the Republic of Korea where gategroup recently announced a landmark 30-year contract as the sole in-flight caterer for Asiana Airlines at Incheon airport.

gategroup’s strong focus on commercial innovation has delivered attractive culinary and retail on board solutions which have proven to enhance the passenger experience, allowing renewals and new contract wins. In addition, gategroup has increased its speed to market and continued to optimize its cost structure, resulting in improved margins.

“2016 and 2017 have been transformational years for gategroup. In early 2015, we defined a new strategy and organizational setup which focused on our core capabilities and introduced a simplified business model. We also further expanded our global network and strengthened our customer relationships to bring added value through innovations aimed at enhancing the customer experience,” said Xavier Rossinyol, CEO of gategroup.

“Our 2016 and preliminary 2017 results demonstrate that the implementation of our new strategy also delivers a strong financial performance. We are clearly on the right track, and it has allowed us to more than double our EBITDA over the past two years. Furthermore, the integration of Servair provides us with a strong platform to reinforce our culinary DNA and expand our activities in key markets. We are at the mid-point of implementing our strategic roadmap and are confident this positive momentum is setting a solid foundation for future growth.”

Media inquiries
Nancy Jewell
+41 44 533 7081
njewell[at]gategroup.com

About gategroup
gategroup is the global leader in airline catering, retail-on-board and hospitality products and services. We provide passengers with superior culinary and retail experiences, leveraging our innovation and advanced technology solutions. Headquartered in Zurich, Switzerland, we deliver operational excellence through the largest catering network in the aviation industry, serving more than 500 million passengers annually from over 200 operating units in 60+ countries across all continents. In 2017, gategroup reached CHF 4.6 billion in revenues (preliminary and unaudited) and employed 43,000 employees worldwide. For further information, please visit www.gategroup.com

Forward-Looking Statements
This publication contains forward-looking statements and other statements that are not historical facts. The words “believe”, “anticipate”, “plan”, “expect”, “project”, “estimate”, “predict”, “intend”, “target”, “assume”, “may”, “will” “could” and similar expression are intended to identify such forward-looking statements. Such statements are made on the basis of assumptions and expectations that we believe to be reasonable as of the date of this publication but may prove to be erroneous and are subject to a variety of significant uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. Among these factors are changes in overall economic conditions, changes in demand for our products, changes in the demand for, or price of, oil, risk of terrorism, war, geopolitical or other exogenous shocks to the airline sector, risks of increased competition, manufacturing and product development risks, loss of key customers, changes in government regulations, foreign and domestic political and legislative risks, risks associated with foreign operations and foreign currency exchange rates and controls, strikes, embargoes, weather-related risks and other risks and uncertainties. We therefore caution investors and prospective investors against relying on any of these forward-looking statements. We assume no obligation to update forward-looking statements or to update the reasons for which actual results could differ materially from those anticipated in such forward-looking statements, except as required by law.

Note: In the event of any discrepancy or inconsistency between any translated versions of this publication, the English version shall prevail.