ZURICH Glattbrugg, 26 April 2021 – 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 2021.
Revenues were increased by 35% to CHF 2.097 billion in 2021 (vs. CHF 1.552 billion in 2020).
EBITDA was positive, with a profit of CHF 60.5 million in 2021 (vs. a loss of CHF -256.7 million in 2020).
Cash and cash equivalents were at CHF 246.6 million as per December 31, 2021 compared to CHF 302.9 million at the end of 2020.
“With a solid increase in business volume in airline catering towards the end of 2021 and the continuing growth of our food services business,” says Christoph Schmitz, CEO of gategroup, “the group is well positioned to benefit from the continuing recovery of the aviation industry in 2022 and continued building of adjacent businesses.”
The audited 2021 Financial Statements and the 2021 Annual Report of gategroup are available here.
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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.
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.