EANS-Adhoc: gategroup Announces Four-Year Growth Objectives
Geschrieben am 23-03-2012 |
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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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23.03.2012
ZURICH, March 23, 2012 -- gategroup, the leading independent global
provider of onboard products and services, today announced updated
growth objectives through 2015.
In a presentation to be given today in London at the Company's second
Investors Day, gategroup CEO Andrew Gibson outlined a revenue growth
target through 2015 of CHF 600 million driven by existing business
development and new business development. This objective represents
revenue growth of 20-25 percent over the four-year planning period
from CHF 2.7 billion in 2011 to CHF 3.3 billion in 2015.
gategroup is also targeting additional potential revenue growth of
10-20 percent through execution of its mergers, acquisitions and
alliances (MA&A) strategy, which includes consideration of a large
transaction or a series of smaller, accretive bolt-on acquisitions
that augment the Group's business strategy.
In aggregate, the combination of existing and new business
development combined with MA&A activity is targeted to deliver 30-45
percent growth over the coming four years. While this may appear
aggressive, Gibson noted that on a constant currency basis, gategroup
achieved revenue growth of 16 percent over the last two year period.
"gategroup's focus is on balanced, sustainable and profitable
growth," he said, adding that the Company's strategy remains firmly
in place to capture growth within the existing core customers, the
airline industry, while cultivating additional business around
gategroup's existing centers of activity and assets. These efforts
will be supported through divisional development initiatives,
Company-wide campaigns, and new ventures, including potential entry
into adjacent markets where gategroup's products and services can
naturally be extended.
Over the planning period, the targeted margin before interest, taxes,
depreciation and amortization (EBITDA) would be between 8.0 to 9.5
percent, with the potential for an additional 1.5 percentage points
through MA&A activity. Overall, the return on invested capital (ROIC)
is targeted to exceed 12 percent and cash generated from operations
before interest and taxes to range from 5 to 7 percent of revenue.
The plan assumes: No material change in 2011 foreign exchange rates;
cost structures and contract pricing remain at current levels;
revenues for existing gategroup businesses increase in line with
IATA-growth factors; and revenues will be augmented by new business
development and MA&A actions.
Developing and managing true partnerships with airline customers is
the key to success, Gibson said, noting that gategroup recently
realigned its business to execute more effectively against these
defined opportunities.
"We firmly believe that sustainable growth must be delivered through
a managed portfolio of options. We aim to achieve this by capturing
organic growth, leveraging our existing management and physical
assets for new business development, and making sensible accretive
acquisitions," Gibson said.
For more details, including the Investor Day presentation, please
visit the gategroup web site at the following address: http://www.gat
egroupmember.com/index.php?option=com_content&view=article&id=518&Ite
mid=228.
About gategroup: gategroup is the leading independent global provider
of products, services and solutions related to a passenger's onboard
experience. gategroup comprises the following brands: deSter, eGate
Solutions, Gate Aviation, Gate Gourmet, Gate Safe, Harmony, Performa,
potmstudios, Pourshins and Supplair. Shares of Zurich-based gategroup
are traded on the SIX Swiss Exchange under the symbol GATE. Please
visit http://www.gategroup.com.
IMPORTANT NOTICE This publication contains forward-looking statements
and other statements that are not historical facts. The words
"believe", "anticipate", "plan", "expect", "project", "estimate",
"predict", "intend", "target", "assume", "may", "will" "could" and
similar expression are intended to identify such forward-looking
statements. Such statements are made on the basis of assumptions and
expectations that we believe to be reasonable as of the date of this
publication but may prove to be erroneous and are subject to a
variety of significant uncertainties that could cause actual results
to differ materially from those expressed in forward-looking
statements. Among these factors are changes in overall economic
conditions, changes in demand for our products, changes in the demand
for, or price of, oil, risk of terrorism, war, geopolitical or other
exogenous shocks to the airline sector, risks of increased
competition, manufacturing and product development risks, loss of key
customers, changes in government regulations, foreign and domestic
political and legislative risks, risks associated with foreign
operations and foreign currency exchange rates and controls, strikes,
embargoes, weather-related risks and other risks and uncertainties.
We therefore caution investors and prospective investors against
relying on any of these forward-looking statements. We assume no
obligation to update forward-looking statements or to update the
reasons for which actual results could differ materially from those
anticipated in such forward-looking statements, except as required by
law.
Further inquiry note:
CONTACT: For media: Carol Reed, creed@gategroup.com, +41-43-812-9128, or John
Bronson, jbronson@gategroup.com, +41-43-812-2048; or For investors/analysts:
Dagmara Robinson, drobinson@gategroup.com, +41-43-812-5496
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
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