2011 performance disclosed as prelude to upcoming release of 2012 Jan-March financial results
The Board of Directors of gategroup Holding AG announced on March 15 its decision to introduce quarterly financial reporting to facilitate performance tracking of gategroup by shareholders and investors. The report on May 10 will be the first ever for the January-March period since the Company listed on the SIX Swiss Exchange in 2009.
In view of this upcoming May 10 release on performance for the first three months of 2012 gategroup today is disclosing financial results from last year’s first quarter to provide historical context.
The airline industry, gategroup’s largest customer base, is a highly seasonal business, and the first quarter is typically the weakest. This seasonality is reflected in gategroup’s performance as well.
Results for the 2011 January-March period are as follows:
Q1 2011 In CHF million
Segment EBITDA margin 3.8%
Operating profit 3.9
Operating profit margin 0.6%
Loss for the period (6.2)
Cash flow from operations (28.6)