Gategroup Holding: announces 2022 full-year results

Zurich / CH. (ggh) Switzerland’s Gategroup Holding AG published its full-year results and Annual Report for the financial year ending 31 December 2022. Revenues were increased by 84.8 percent 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 percent to a level of CHF 100.1 million (versus 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, the Holding AG says in its short news release.

«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 Chief Executive Officer Christoph Schmitz in his statement. «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.»

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. The company 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.