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Changes to the Executive Management Board of gategroup
gategroup Holding AG (“gategroup”) today announced the following changes to its Executive Management Board (EMB). After 10 years with the group, Jann Fisch has decided to step down from the EMB effective today and take a new role outside of the airline catering industry. Xavier Rossinyol, gategroup Chief Executive Officer, said: “As leader of APAC for the past 5 years, Jann has successfully enlarged our business and customer portfolio, expanding our footprint from eight to eleven countries to include Korea, Cambodia and Macau, and has developed a highly performing team who will successfully take over. We wish him continued success in his new endeavours”. The EMB will be reduced from…
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Positioning for post-COVID future – Update on Restructuring Plan
gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”), announces that the High Court of England and Wales (the "Court") today gave directions that the hearing in relation to the proposal by gategroup Guarantee Limited (the "Plan Company") to convene a meeting of its creditors for the purposes of voting on an English restructuring plan under Part 26A of the United Kingdom’s Companies Act 2006 (the "Convening Hearing") is to be adjourned until 3-4 February 2021. If the Court grants the order at the Convening Hearing scheduled to be held on 3-4 February 2021, a meeting of the Bondholders and Senior Lenders is expected to be…
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gategroup schliesst Übernahme des Europageschäfts von LSG ab
Die gategroup Holding AG („gategroup”) hat heute den Vollzug der Übernahme des Europageschäfts der LSG Group von der Deutsche Lufthansa AG („Lufthansa”) bekannt gegeben. Die Transaktion umfasst den Inflight-Catering-Betrieb von LSG in Deutschland, der Schweiz, den Niederlanden, Belgien, Italien und Spanien sowie das globale Equipment-Geschäft unter der Marke SPIRIANT, ausserdem das europäische Geschäft für Convenience Food der Marke Evertaste, die Einzelhandelsgeschäfte der Marke Ringeltaube sowie Zug-Catering und Lounges. „Wir freuen uns sehr, diesen wichtigen Meilenstein erreicht zu haben", sagt Xavier Rossinyol, CEO von gategroup. „Die erheblichen wirtschaftlichen Herausforderungen, die die COVID-19-Panemie mit sich brachte, erforderten von allen Beteiligten ein hohes Mass an Flexibilität, Partnerschaftlichkeit und Vertrauen. Wir sind froh darüber,…
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gategroup completes acquisition of LSG’s European operations
gategroup Holding AG (“gategroup”) today announced the completion of the acquisition of the European operations of LSG Group from Deutsche Lufthansa AG (“Lufthansa”). The transaction comprises LSG’s inflight catering operations in Germany, Switzerland, the Netherlands, Belgium, Italy and Spain as well as the global equipment business trading under the SPIRIANT brand. It also includes the European convenience food operations trading under the Evertaste brand, the Ringeltaube retail outlets as well as its European train catering and lounge operations. "We are thrilled to have reached this important milestone," says gategroup CEO Xavier Rossinyol. “The substantial economic challenges brought about by the COVID-19 pandemic required a high degree of flexibility, partnership and…
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Positioning for post-COVID future – Recapitalisation by Shareholders and Amendment of Financial Indebtedness
As announced on 13 November 2020, gategroup Holding AG ("gategroup" or the "Company" and together with its subsidiaries, 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 (the “Recapitalisation”) and amendment of the Group’s financial indebtedness (the “Transaction”). The Company is pleased to announce that the Company, the Shareholders and all Senior Lenders, among others, have entered into a lock-up agreement (the "Lock-up Agreement") to implement the Transaction, which is currently scheduled to be completed…
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gategroup announces plans for winter trial of industry-first inflight digital retail platform for air travellers
. For first time, passengers will be able to browse, order and buy inflight retail services from their personal devices. The digital retail platform gets set to commence trial with airline partner easyJet Flagship platform uses machine learning and data-driven innovation to deliver more relevant choice for passengers. gategroup, a leading global provider of airline catering solutions and pre-order / inflight / and post-flight retail services, has announced it will be launching a winter trial of its Epax digital retail solution, with one of Europe’s leading airlines easyJet. This is the latest market-leading innovation from gategroup working in partnership with its long-term analytics partner, Black Swan Data. The introduction of…
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Restructuring of the Group’s Financial Indebtedness
gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”) is pleased to announce that its shareholders, RRJ Capital and Temasek, and all bank lenders providing syndicated loans to the Group have reached an agreement in principle, under a binding term sheet, to support a comprehensive restructuring of the Group’s financial indebtedness (the “Transaction”). The proposed Transaction will provide the Group with significant new liquidity to address short and medium-term needs and will help establish a stable capital structure. Overview of the Transaction The Transaction is fully supported by the Group’s shareholders and its bank lenders under a combined facilities agreement. Key features of the proposed Transaction…
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gategroup gibt Ergebnis für das Geschäftsjahr 2019 bekannt
Die gategroup Holding AG hat heute die Gesamtjahreszahlen für 2019 sowie den Geschäftsbericht für das am 31. Dezember 2019 beendete Geschäftsjahr veröffentlicht. – Der Umsatz blieb 2019 mit CHF 5,0 Milliarden stabil (ggü. CHF 4,9 Milliarden im Jahr 2018, eine Steigerung um +0,5%). Das positive organische Umsatzwachstum von +4,1% wurde durch Veräußerungen von nicht zum Kerngeschäft gehörenden Aktivitäten (-1,1%) und negativen Währungseffekten (-2,6%) in Teilen kompensiert. – Das EBITDA-Ergebnis lag 2019 bei CHF 440,3 Millionen (ggü. CHF 343,9 Millionen im Jahr 2018, eine Steigerung um +28%); die EBITDA-Marge verbesserte sich um 191 Basispunkte auf 8,9%. Ohne die bilanziellen Auswirkungen der Anpassungen nach IFRS 16 zum 1. Januar 2019 wäre die EBITDA-Marge um 27…
