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Gategroup moves nearer to China as revenues rise 13%

09/02/2016| 8:12:30 PM|

As airline catering Gategroup moves closer to becoming a fully-owned subsidiary of the HNA Group, it reported a 13.1% increase in revenues for the first half of 2016.

Airline services company Gategroup has reported a 13.1% increase in revenues to CHF1,600.1 million for the first half of 2016 as it prepares to take its place ‘as an autonomous company within HNA’s portfolio.

The company reports that EBITDA grew from CHF 29.8 million last year to CHF 77.9 million in the first six months of this year, with et profit attributable to its shareholders said to be CHF 18.3 million.

As the company moves closer to becoming a fully-owned subsidiary of the HNA Group, its CEO Xavier Rossinyol was upbeat: “We have generated 13.1% growth in revenue at constant currency with an impressive 6.7% increase in organic revenue in the first half of the year, and a 161.4% EBITDA improvement at constant currency.

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TAGS: Gategroup | HNA
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