EANS-Adhoc: gategroup Provides Outlook Given Industry Uncertainty

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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conference call

23.11.2011

ZURICH, Nov. 23, 2011 -- Given recent public statements by industry
bodies, such as the International Air Transport Association (IATA)
and major airlines, regarding the current uncertainty in the global
economy and weakening prospects for the airline industry, gategroup
is providing the following update based on ongoing developments.

gategroup revenue through the third quarter was essentially flat
compared to the same period last year. However, on a constant
currency basis, revenue was 14% higher with significant contributions
from the 2010 acquisitions in Canada and India.

In the first half year, gategroup had identified foreign exchange
effects, raw material cost escalation and the impact of the
catastrophes in Japan as factors impacting financial performance, all
of which have largely been mitigated. In addition, the dilutive
effect of the 2010 acquisitions in Canada and India was identified.
Canada remains on track with the integration plan although extra
costs were incurred as part of the preparation for and successful
conclusion of key labor negotiations. India, however, remains a
concern primarily due to the distressed state of the Indian domestic
carriers and significant food cost escalation that has continued to
develop throughout 2011. Both factors are adversely impacting the
profitability of the business in India.

The Company is closely tracking the potential adverse implications of
the Euro zone turmoil and development of the global economy on fourth
quarter flight and passenger volumes. IATA has warned of a
deceleration in world demand as business and consumer confidence
wanes, particularly in Europe and North America. Relative to its
internal expectations, gategroup foresees softer-than-expected volume
in the fourth quarter since its core markets are in these two
regions.

On a full-year basis, the factors discussed above will drive a lower
margin outlook and lower-than-anticipated cash flow for the current
year. The Company now expects an EBITDA margin in the range of 7.4%
to 7.7% for 2011 on full-year actual revenue of between CHF 2,650
million and CHF 2,700 million (about CHF 3.0 billion in 2010 constant
currencies). Based on the latest industry information, gategroup is
anticipating flat volumes across its portfolio in 2012 and no margin
improvement. gategroup has proven to be resilient in adverse industry
environments as was experienced during the severe global economic
slowdown in 2008-2009, and remains confident in its business model.
The outlook on 2012 Group performance will be further refined as more
information becomes available and the accuracy of the industry's
assessment is confirmed.

For additional information, please see the following link on the
gategroup website: http://www.gategroupmember.com/index.php?option=co
m_content&view=article&id=419&Itemid=231

IMPORTANT NOTICE

This publication may contain specific forward-looking statements,
e.g., statements including terms like "believe", "assume", "expect"
or similar expressions. Such forward-looking statements are subject
to known and unknown risks, uncertainties and other factors which may
result in a substantial divergence between the actual results,
financial situation, development or performance of the company and
those explicitly or implicitly presumed in these statements. Against
the background of these uncertainties readers should not rely on
forward-looking statements. The company assumes no responsibility to
update or revise any of these forward-looking statements or to adapt
them whether to reflect new information, future events, developments
or circumstances or otherwise.

INVITATION TO ANALYSTS AND INVESTORS

gategroup CEO Andrew Gibson and CFO Thomas Bucher invite analysts and
investors to participate in a telephone conference call regarding the
Nov. 23 update.

The presentation can be accessed via webcast and dial-in
teleconference at 15:00 CET on Wednesday, Nov. 23, 2011.

To listen to the live presentation via teleconference, call the
dial-in number approximately 15 minutes before the start time. Once
dialed in, please follow the instructions given over the phone.

Direct dial-in numbers:
+41 (0)91 610 56 00 (Europe)
+44 (0) 203 059 58 62 (UK)
+1 866 291 41 66 (USA - Toll-Free)
+49 (0)69 2 22 22 05 93 (Germany)

Please note that this Q&A session is for analysts and investors only.

Further inquiry note:
Contact for investors/analysts
Dagmara Wawrzonowska
Investor Relations
invest@gategroup.com
+41 43 812 5496

For media
Carol Reed
Corporate Communications
creed@gategroup.com
+41 43 812 9128

John Bronson
Corporate Communications
jbronson@gategroup.com
+41 43 812 2048

end of announcement euro adhoc
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issuer: gategroup Holding AG
Balz-Zimmermannstrasse 7
CH-8302 Kloten
phone: +41 43 812 54 96
FAX: +41 43 812 91 19
mail: invest@gategroup.com
WWW: http://www.gategroupmember.com/
sector: Consumer Goods
ISIN: CH0100185955
indexes:
stockmarkets: Hauptsegment: SIX Swiss Exchange
language: English