gategroup EBITDA down 7% in 1H2014, confirms 2014 full year outlook

gategroup revenue down 3% - financial highlights

• Revenue: CHF1424 million (EUR1166 million), -2.8% year-on-year;
• • Airline solutions: CHF1218 million (EUR997.1 million), -4.5%;
• EBITDA: CHF60.6 million (EUR49.6 million), -3.2%;
• • Airline solutions: CHF58.0 million (EUR47.5 million), -7.1%;
• Operating profit: CHF20.9 million (EUR17.1 million), -7.5%;
• Net profit (loss): (CHF6.5 million) (EUR5.3 million), compared to a loss of CHF12.7 million (EUR10.4 million) in p-c-p;
• Total assets: CHF1467 million (EUR1201 million);
• Cash and cash equivalents: CHF125.2 million (EUR102.5 million);
• Total liabilities: CHF1209 million (EUR989.8 million). [more - original PR]

*Based on the average conversion rate at EUR1 = CHF1.2213

gategrup: "gategroup confirms its 2014 full year outlook. Thus, gategroup maintains an expectation of flat revenue development with an EBITDA margin of 5.6% to 6.2% for the full year. Gategroup's continuous focus on the streamlining of operations and prior acquisitions, together with the additional activities referred to above, will bolster the financial performance in the second half of 2014 through 2015 to ensure delivery of the Group's mid-term plan objectives of an EBITDA margin of 7.0% to 8.0% by 2016 and an EBITDA range of 7.5% to 8.5% by 2017, with a commensurate improvement in cash flow." Source: Company statement, 21-Aug-2014.