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Gategroup Announces 2019 Results

By Dave Simpson

Airline catering company Gategroup has published its results for the financial year that ended on December 31, 2019, revealing that its revenues rose 0.5% to five billion Swiss francs (CHF).

The Swiss company recorded positive organic growth of 4.1%, which it said was partially offset by a decrease from divestments in non-core businesses (-1.1%) and negative FX impacts (-2.6%).

EBITDA And Cash Generation From Operations

Gategroup's earnings before interest, tax, depreciation and amortisation (EBITDA) increaed 28% to CHF 440.3 million, and its EBITDA margin improved by 191 bps to 8.9%. Excluding accounting impacts from the adaption of IFRS 16 as per January 1, 2019, the company's EBITDA margin would have increased by 27 bps.

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Additionally, the company generated CHF 295.7 million in cash from operations, which was a 15.6% increase on the figure for the previous year.  

© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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