ZURICH Glattbrugg, 13 March 2023 – 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 2022.
Revenues were increased by 84.8% to CHF 3.875 billion in 2022 (2.097 billion in 2021).
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) has increased by 65.5% to a level of CHF 100.1 million (vs CHF 60.5 million in 2021).
Cash and cash equivalents were at CHF 208.1 million as per December 31, 2022 compared to CHF 246.6 million at the end of 2021.
“Despite 2022 being an exceptionally challenging year for the aviation industry due to the unprecedented volume increase combined with historically high inflation rates, supply chain disruption and shortages in the labor market, we have kept our operations stable and managed to double the size of our business.” says Christoph Schmitz, CEO of gategroup. “With several significant contract wins, an expansion of our food services and packaging business and a stable customer portfolio we managed to rehire more than 11,750 employees since the beginning of 2021 and are well positioned to capitalize on the further recovery of the market in 2023.”
The audited 2022 Financial Statements and the 2022 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.
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.
