ZURICH Glattbrugg, 21 March 2024 – gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”), published today its full-year results and Annual Report for the financial year ending 31 December 2023.
Revenues were increased by 21% to CHF 4.7 billion in 2023 (3.9 billion in 2022).
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) has increased by 126% to a level of CHF 226 million (vs CHF 100 million in 2022).
Cash and cash equivalents were at CHF 284 million as per 31 December 2023 compared to CHF 208 million at the end of 2022.
“During 2023, gategroup successfully executed its transformation from legacy to launchpad,” says Christoph Schmitz, CEO of gategroup. “Over the past year we further improved our operational efficiency, expanded our customer and product portfolio, diligently converted our strategic initiatives and materially improved our financial performance, laying the foundation for accelerated profitable growth.”
The audited 2023 Financial Statements and the 2023 Annual Report of gategroup are available here.
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About gategroup
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 delivers operational excellence through the most extensive catering network in the aviation industry, serving passengers from over 200 operating units in over 60 countries/territories across all continents. For further information, please visit www.gategroup.com.
Contact: mediacontact@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.
