gategroup EBITDA down 7% in 2011

Switzerland's gategroup revenue stable - financial highlights for 12 months ended 31-Dec-2011:

• Revenue: EUR2230 million, -0.4% year-on-year;
• EBITDA: EUR167.4 million, -6.9%;
• Net profit: EUR48.7 million, +17.6%;
• Total assets: EUR1464 million, -2.8%;
• Cash and cash equivalents: EUR357.1 million, -6.4%;
• Total liabilities: EUR1069 million, -6.7%. [more - original PR]

*Based on the conversion rate at EUR1 = CHF1.20512

gategroup: "We remain cautious with respect to how the global economy will develop in 2012. We do expect it will be relatively uneven, with airlines in individual markets facing different pressures. While we continue to closely monitor global markets, we will further strengthen our business to enable the Group to shore up against the external market as events unfold. Given continued global economic uncertainty, we will modify our approach as befits each regional market's unique environment." Source: Company statement, 28-Feb-2012.