gategroup announces 2019 full-year results
ZURICH Glattbrugg, March 23, 2020
gategroup Holding AG published today its 2019 full-year results and Annual Report for the financial year ending 31 December 2019.
- Revenues remained stable at CHF 5.0 billion in 2019 (vs. CHF 4.9 billion in 2018, an increase of +0.5 %). Positive organic growth of +4.1% was partially offset by a decrease from divestments in non-core businesses (-1.1%) and negative FX impacts
- EBITDA reached CHF 440.3 million in 2019 (vs. CHF 343.9 million in 2018, an increase of +28%); EBITDA margin improved by 191 bps to 8.9%. Excluding accounting impacts from the adaption of IFRS 16 as per 1 January 2019, EBITDA margin would have increased by 27 bps.
- Improved cash generation from operations at CHF 295.7 million (vs. CHF 255.7 million in 2018, an increase of +15.6%).
The audited 2019 Financial Statements and the 2019 Annual Report of gategroup are available here.
gategroup is the global leader in airline catering, retail-on-board and hospitality products and services. gategroup provides passengers with superior culinary and retail experiences, leveraging innovation and advanced technology solutions. Headquartered in Zurich, Switzerland, gategroup deliver operational excellence through the most extensive catering network in the aviation industry, serving more than 700 million passengers annually from over 200 operating units in over 60 countries/territories across all continents. In 2019, gategroup reached CHF 5 billion in revenues generated by approximately 43,000 employees worldwide. For further information, please visit www.gategroup.com
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
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.
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