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.
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