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gategroup announces 2021 full-year results
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…
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gategroup gibt Ernennung von Christoph Schmitz zum neuen Vorstandsvorsitzenden bekannt
gategroup, der weltweit führende Anbieter von Airline-Catering und Food-Services, gab heute bekannt, dass Xavier Rossinyol zum 1. November 2021 als Chief Executive Officer zurücktritt, um sich neuen Herausforderungen ausserhalb der Airline-Branche zu stellen. Sein Nachfolger wird Christoph Schmitz, CFO der gategroup seit Januar 2015. Xavier Rossinyol kam im April 2015 zu gategroup und führte das Unternehmen durch eine Phase starken Wachstums mit jährlichen Rekordzahlen. Zudem steuerte er das Unternehmen erfolgreich durch die komplexe COVID-19-Pandemie. Zwischen 2015 und 2019 steigerte gategroup den Umsatz von CHF 3 Mrd. auf CHF 5 Mrd., vergrößerte den Kundenstamm auf über 300 globale Kunden und erweiterte ihre Präsenz auf über 200 Standorte in mehr als 60…
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gategroup announces appointment of Christoph Schmitz as new Chief Executive Officer
gategroup, the leading global airline catering and food services provider, today announced that Xavier Rossinyol will step down as Chief Executive Officer effective November 1, 2021 to pursue new challenges outside of the airline industry. He will be succeeded by Christoph Schmitz, gategroup’s Chief Financial Officer since January 2015. Xavier Rossinyol joined gategroup in April 2015 and led the company through a strong growth phase with record year-on-year financial results; and navigated the complex COVID-19 pandemic. Between 2015 and 2019, gategroup grew its revenues from CHF3bn to 5bn, enlarging its customer base to 300+ global customers and expanding its footprint to 200+ locations and its presence to 60+ countries. In…
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gategroup announces 2020 full-year results
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 2020. Revenues were reduced to CHF 1.55 billion in 2020 (vs. CHF 4.96 billion in 2019) due to the near-global air travel shutdown. EBITDA was a loss of CHF 256.7 million in 2020 (vs. a profit of CHF 440.3 million in 2019). Cash flow from operating activities was CHF (308.0) million (vs. CHF 188.1 million in 2019). The audited 2020 Financial Statements and the 2020 Annual Report of gategroup are available here. Forward-Looking Statements This publication contains forward-looking statements and other statements…
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gategroup partners with SWISS to bring Confiserie Sprüngli to their new SWISS Saveurs menu
Leading catering, equipment and food services provider gategroup has joined with partner airline SWISS to provide the culinary and flight optimization services needed to serve passengers fresh offerings from Confiserie Sprüngli, within the SWISS Saveurs concept. Established in 1836, Confiserie Sprüngli has long been an international byword for products of outstanding quality and freshness made with natural ingredients. As part of the collaboration with SWISS, gategroup will be following Confiserie Sprüngli recipes to produce a wide range of fresh items that will be offered on a daily basis in the new SWISS Saveurs menu as of 30 March. This is the latest in a series of collaborations between gategroup, airlines,…
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Positioning for post-COVID future – Update on Restructuring Plan – Restructuring Plan approved by English Court
gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”), is pleased to announce that the English Court has approved the English law restructuring plan under Part 26A of the United Kingdom’s Companies Act 2006, a key part of the financial restructuring designed to position the Group for a post-COVID future. The financial restructuring is expected to complete in April 2021. Background As announced on 26 November 2020, the Group, its shareholders, RRJ Capital and Temasek (together, the "Shareholders") and all of the Group’s bank lenders under the senior facilities agreement dated 30 November 2018 (the "Senior Lenders" and the "SFA", respectively) have agreed to the key terms…
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Gastronauts are Go as gourmet menus launch into space
Servair works with the European Space Agency to deliver menus for Astronauts Adamski’s team look to honor French cuisine in their cosmic creations Many technical challenges overcome to deliver to the gastronauts Servair, the French and African leader in airline catering and a member of gategroup, has been asked by the European Space Agency, to develop a gourmet menu for astronauts on the upcoming Alpha space mission to the ISS (International Space Station) which will take off on April 22, 2021. France’s Thomas Pesquet will be part of the SpaceX crew in April when he will be embarking on a six month stay on the ISS. Each “gastronaut” on the…
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Positioning for post-COVID future – Update on Restructuring Plan – Creditor Approval Achieved
gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”), is pleased to announce that the meetings of (i) the Bondholders and (ii) the Senior Lenders, have each approved the English law restructuring plan, a key part of the financial restructuring designed to position the Group for a post-COVID future. Background As announced on 26 November 2020, the Group, its shareholders, RRJ Capital and Temasek and all of the Group’s bank lenders under the senior facilities agreement dated 30 November 2018 (the "Senior Lenders" and the "SFA", respectively) have agreed to the key terms and conditions of a recapitalisation of the Company and amendment of the…
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Positioning for post-COVID future – Update on Restructuring Plan – Key Milestone Achieved
gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”), announces that an explanatory statement has today been published to Bondholders and Senior Lenders in connection with gategroup Guarantee Limited’s (the "Plan Company") financial restructuring plan designed to position the Company for a post-COVID future. Background As announced on 26 November 2020, the Group, its shareholders, RRJ Capital and Temasek (the "Shareholders") and all of the Group’s bank lenders under the senior facilities agreement dated 30 November 2018 (the "Senior Lenders" and the "SFA", respectively) have agreed to the key terms and conditions of a recapitalisation of the Company and amendment of the terms of the…
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Positioning for post-COVID future – Update on Restructuring Plan
Background As announced on 26 November 2020, gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”), the Group, its shareholders, RRJ Capital and Temasek (the "Shareholders") and all of the Group’s bank lenders under the senior facilities agreement dated 30 November 2018 (the "Senior Lenders" and the "SFA", respectively) have agreed to the key terms and conditions of a recapitalisation of the Company and amendment of the terms of the Group’s financial indebtedness (the “Transaction”) to position the Group for a post-COVID future. In order to provide the Group with liquidity to implement the Transaction, a CHF 200 million senior secured interim liquidity facility (the…
