The company’s total financial performance in the past year matched its achievements of the pre-pandemic year 2019 and doubled its results compared in 2022. This was underlined by a 97% customer retention rate in the United States, the company’s largest region.
LSG Group’s EMEA (Europe, Middle East and Africa) region as well as Latin America enjoyed a very strong operational year despite the effects of some currency fluctuations. The Asia-Pacific region experienced a ‘significant post-pandemic resurgence’ that is reflected in the many opportunities the company is currently exploring.
For the year 2023 as a whole, the LSG Group (LSG Sky Chefs and Retail inMotion) reported a consolidated total revenue of EUR 2.347 billion, surpassing the pre-pandemic figure of the year 2019 (EUR 2.302 billion). This was thanks in large part to its strong performance in the classic airline-catering segment and high inflation protection.
Karin Sonnenmoser, group chief financial officer, said: “We achieved a solid financial performance in 2023 and delivered on our business plan for the second year in a row. This is a remarkable accomplishment, which clearly shows our resilience and strong foundation, particularly because the latter part of the year brought so many changes to our company.
“In 2024, we are working to further grow our results and to secure our cash situation while looking forward to even more improvements from a financial stability and CapEx (capital expenditure) standpoint.”