Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Esmeralda Swartz, Hovhannes Avoyan, Elizabeth White, Adrian Bridgwater

News Feed Item

SSP Group Results for the Year Ended 30 September 2013

LONDON, January 17, 2014 /PRNewswire/ --

A year of further profit growth and increased investment

SSP Group, the leading operator of food and beverage brands in travel locations worldwide, announces its audited financial results for the year ended 30 September 2013.

Financial and operational highlights

  • Sales up 5% to £1.83bn (2012: £1.74bn)
  • Like-for-like sales growth of +4.3%, benefitting from strong performances in Asia Pacific, Eastern Europe, the Middle East and Scandinavia
  • Strong underlying EBITDA growth of +10% to £152.7m (2012: £139.1m)
  • Operating cash flow generation of £59m, with net cash flow after interest of £25m
  • Capex up 27% to £78m, with a programme of significant investment including the refurbishment and rebranding of numerous existing outlets, as well as the opening of 90 new outlets around the world: 43 in Europe, including Zurich, Copenhagen, Malaga, and Manchester airports, and at Waterloo and Gare de Lyon stations; 37 in North America,  including JFK, Phoenix, San Diego and Toronto airports; and 10 in Asia Pacific, including Hong Kong, Bangkok and Hangzhou airports
  • Important contract renewals included: Abu Dhabi, Bangkok, and Hainan (China) airports; with new contract wins including Doha airport and Oslo Central and Bordeaux railway stations
  • SSP's brand portfolio has continued to strengthen during the year, with developments including: a five year extension of the partnership with Starbucks, with whom SSP currently operates 67 sites across Europe; the opening of the first Shake Shack outlet in an airport, at JFK; a partnership with CNN to launch CNN Traveller Cafés globally; and the opening of outlets with Dani García and Francis Cardenau, both double Michelin-starred chefs, at Malaga and Copenhagen airports, respectively

Kate Swann, CEO of SSP, said:

"2013 was a good year for SSP, and we have delivered a strong performance against the backdrop of an improving travel sector. The new financial year has started well, and the long-term growth of the global travel markets, our broad geographic footprint, our investment plans and our healthy pipeline of new business opportunities mean that, despite the uncertain outlook in some parts of the world, we remain confident in the company's prospects for 2014 and beyond."


                                2013    2012  Actual  Constant

    Financial results           GBPm    GBPm FX Rates Currency
    Sales
                             1,827.2  1,737.5
    Like for Like Sales                                  4%
    Growth                       4.3%     2.7%    5%
    EBITDA*                    152.7    139.1
                                                 10%
    EBITDA Margin %*             8.4%     8.0%           8%
    Capex                      (78.0)   (61.6)    -      -
    Operating Cash Flow         59.0     85.6     -      -
    Net Cash Flow               24.8     41.4     -      -


*Pre exceptional items

 

NOTES TO EDITORS:


About SSP:

SSP is the leading 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, Millie's Cookies, O'Learys, Caviar House & Prunier, and leading Asian brands 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:

Business & financial media
Giles Sanderson / Rob Greening / Lisa Kavanagh
Powerscourt
+44(0)207-250-1446

Trade media
Katharine Tipper
SSP, The Food Travel Experts
+44(0)1932-792-453

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
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ...
SYS-CON Events announced today that Emcien will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Emcien’s vision is to let anyone use data to know the future. Emcien has built an automated, predictive analysis product that improves the lives of real people. Emcien allows people to automate their data analysis so they can build a better future.
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures...
SYS-CON Events announced today that Open Data Centers (ODC), a carrier-neutral colocation provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Open Data Centers is a carrier-neutral data center operator in New Jersey and New York City offering alternative connectivity options for carriers, service providers and enterprise customers.
The WebRTC Summit 2015 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
SYS-CON Events announced today that Vitria Technology, Inc. will exhibit at SYS-CON’s @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Vitria will showcase the company’s new IoT Analytics Platform through live demonstrations at booth #330. Vitria’s IoT Analytics Platform, fully integrated and powered by an operational intelligence engine, enables customers to rapidly build and operationalize advanced analytics to deliver timely business outcomes ...
SYS-CON Events announced today that Alert Logic, the leading provider of Security-as-a-Service solutions for the cloud, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® and DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo® and DevOps Summit 2015 Silicon Valley, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Plutora, Inc., the leading global provider of enterprise release management and test environment management SaaS solutions, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Headquartered in Mountain View, California, Plutora provides enterprise release management and test environment SaaS solutions to clients in North America, Europe and Asia Pacific. Leading companies ...
SYS-CON Events announced today the DevOps Foundation Certification Course, being held June ?, 2015, in conjunction with DevOps Summit and 16th Cloud Expo at the Javits Center in New York City, NY. This sixteen (16) hour course provides an introduction to DevOps – the cultural and professional movement that stresses communication, collaboration, integration and automation in order to improve the flow of work between software developers and IT operations professionals. Improved workflows will res...
SYS-CON Events announced today that Akana, formerly SOA Software, has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Akana’s comprehensive suite of API Management, API Security, Integrated SOA Governance, and Cloud Integration solutions helps businesses accelerate digital transformation by securely extending their reach across multiple channels – mobile, cloud and Internet of Thi...
BroadSoft on Tuesday announced that it is a recipient of the 2014 Frost & Sullivan Market Leadership Award in the Hosted/Cloud Internet Protocol (IP) Telephony market for Latin America. According to Frost & Sullivan market research, the Latin America (LATAM) hosted/cloud Internet Protocol (IP) telephony market, including integrated unified communications and collaboration (UC&C) applications, is currently experiencing a rapid growth trajectory and is expected to exhibit a tenfold rise in annual...
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular In...
SYS-CON Events announced today that SafeLogic has been named “Bag Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SafeLogic provides security products for applications in mobile and server/appliance environments. SafeLogic’s flagship product CryptoComply is a FIPS 140-2 validated cryptographic engine designed to secure data on servers, workstations, appliances, mobile devices, and in the Cloud....
SYS-CON Events announced today that FierceDevOps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. FierceDevOps keeps software developers and IT operations personnel updated on the latest news and trends around the rapidly evolving role of the traditional IT worker.