Click here to close now.

SYS-CON MEDIA Authors: Eva Belanyiova, tru welu, Blue Box Blog, Kevin Jackson, Peter Silva

News Feed Item

SSP Group Results for the Year Ended 30 September 2012

LONDON, December 12, 2012 /PRNewswire/ --

SSP Group, the leading dedicated operator of food and beverage brands in travel locations, announces its audited financial results for the year ended 30 September 2012.

     (Logo: http://photos.prnewswire.com/prnh/20121212/582533 )

Financial and operational highlights

Strong financial performance benefitting from continued recovery in global travel markets:

Sales of £1.74bn, +3.2% (on a constant currency basis)

Like-for-like sales growth of +2.7%, benefitting from strong performances in Asia Pacific, the USA and Scandinavia

Strong underlying EBITDA growth of +10.0% to £139.1m (on a constant currency basis)

Operating cash flow generation of £85.6m (2011: £55.4m)

Net cash flow after interest of £41.4m (2011: £7.4m)

Contract renewals of £168m (annual sales value), representing a retention success rate of 87%, with key renewals including: Geneva, Abu Dhabi, Gothenburg and Reno airports; and  Birmingham New Street, London Bridge and Gare de Lyon railway stations

New contract wins of £82m (annual sales value), including Phoenix and JFK airports in the USA, Xian and Hangzhou airports in China, and Nantes airport, Bordeaux railway station and Grenoble railway station in France

Enhancements made to SSP's brand portfolio during 2012, including: the opening of the first ever YO! Sushi in Norway and the first ever Starbucks outlets in both Norway and Finland; exciting new brand partnerships in Asia, including Hung's Delicacies, Taji Tea, and Tai Hing;  and the continued international roll out of SSP's own brands, including Caffè Ritazza, Upper Crust, Camden Food and Le Grand Comptoir

Andrew Lynch, CEO of SSP, said:

"2012 has been another successful year for SSP, and I am pleased to report that we have delivered a strong trading performance as we have continued to benefit from a broad geographic presence, an outstanding portfolio of brands, and the ongoing resilience of the core airport and railway travel markets in which we operate.

We have continued to invest in the long term growth of the business and have been successful in winning a number of major new contracts in growth markets during the year, most notably at Phoenix and JFK airports in the USA and at Hangzhou and Xian airports in China. Our contract retention rate has remained extremely high, and we continue to help some of the world's biggest brands enter new markets, whilst keeping up the momentum in developing and rolling out our own brands across the world.

The business continues to trade well and the current performance is in line with our expectations. We see a strong pipeline of opportunities, particularly in Asia and the USA, that should help offset the continuing economic uncertainty in the eurozone. Furthermore, we are confident that the underlying trends in our core markets will enable us to deliver further growth in sales and profits in 2013 and beyond."

                                  2012    2011  Actual  Constant
 
    Financial results             GBPm    GBPm FX Rates Currency
    Sales                      1,737.5 1,721.0   1.0%     3.2%
    Like for Like Sales Growth     2.7%    4.8%
   
    EBITDA*                      139.1   130.0   7.0%    10.0%                                                 
    EBITDA Margin %                8.0%    7.6%           

    Operating Profit*             61.5    51.6  19.2%    23.7%
    Operating Margin %             3.5%    3.0%  

    Capex                        (63.8)  (60.5)    -        -
    Operating Cash Flow           85.6    55.4     -        -
    Net Cash Flow                 41.4     7.4     -        -


*pre exceptional costs

NOTES TO EDITORS:


About SSP:

SSP is the leading dedicated provider of food and beverage brands in travel locations, operating restaurants, bars, cafés, food courts, lounges and convenience stores in airports, train stations, motorway service stations and other leisure locations. With a heritage stretching back over 60 years, today SSP has 30,000 employees serving over a million customers every day. It has business at over 140 airports and over 250 rail stations, and operates more than 2,100 units in 30 countries around the world.

SSP operates an extensive portfolio of over 200 international, national, local and speciality brands. These include Upper Crust, Starbucks, Caffè Ritazza, Burger King, M&S Simply Food, Millies Cookies, O'Learys, Caviar House & Prunier, Ajisen Ramen and Saboten, as well as stunning bespoke concepts such as the Montreux Jazz Café in Geneva and the award winning Center Bar at Zurich.  

Its brand portfolio is tailored for each specific location, depending on variables such as passenger profile, consumer need states, location type, size and design.

http://www.foodtravelexperts.com

CONTACTS:
SSP
Tel: +44(0)1932-792-403
Andrew Lynch, Chief Executive Officer
Jonathan Davies, Chief Financial Officer

Powerscourt (media enquiries)
Tel: +44(0)20-7250-1446
Victoria Palmer-Moore / Rob Greening / Lisa Kavanagh


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
ThingsExpo New York is offering a limited time FREE "Expo Plus" registration option in New York. On site registration price of $1,95 will be set to 'free' for delegates who register during special offer. To take advantage of this opportunity, attendees can use the coupon code, and secure their registration to attend all keynotes, ThingsExpo sessions, expo floor, and SYS-CON.tv power panels. Special FREE registration givess access to all DevOps, Containers and Microservices sessions as well. Regi...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it!
"For the past 4 years we have been working mainly to export. For the last 3 or 4 years the main market was Russia. In the past year we have been working to expand our footprint in Europe and the United States," explained Andris Gailitis, CEO of DEAC, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
"At Harbinger we do products as well as services. Our services are with helping companies move their products to the cloud operating systems. Some of the challenges we have seen as far as cloud adoption goes are in the cloud security space," noted Shrikant Pattathil, Executive Vice President at Harbinger Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
The only place to be Nov 3-5 is Cloud Expo | @ThingsExpo | DevOps Summit 2015 West at the Santa Clara Convention Center in Santa Clara, CA. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT, Big Data and DevOps companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked...
"Ulunsoft is a start-up that focuses on how enterprises build cloud-based IT infrastructure for business," explained Haibo Zhu, President of Ulunsoft Corp, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading in...
"SOASTA built the concept of cloud testing in 2008. It's grown from rather meager beginnings to where now we are provisioning hundreds of thousands of servers on a daily basis on behalf of customers around the world to test their applications," explained Tom Lounibos, CEO of SOASTA, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.