A message from the CFO
Building sustainable financial strength
Dear gategroup stakeholders,
2025 was a landmark year of transition and achievement. It marked the successful completion of our Navigate 25 transformation – a multi-year journey that has established our company as a resilient, global platform.
Today, our organization is more structurally sound than at any point in our history.
This evolution led to a record-breaking performance in 2025, with total revenues reaching EUR 5.6 billion and operating profitability hitting its highest level since our inception. These results, supported by a strong EBITDA of EUR 467 million and robust operating cash flow of EUR 391 million, exceeded our initial expectations for the year and reinforce our path toward long-term value creation.
Capital resilience and market confidence
A defining achievement of the past year was the further strengthening of our financial position. In June, we closed a comprehensive EUR 1.4 billion refinancing package, followed by a successful upsizing and repricing of our Term Loan B facilities in November.
The significant demand from top-tier institutional investors underscores the market’s confidence in our performance and our strategic direction. By securing more favorable margins and significantly enhancing our liquidity, we have gained the financial flexibility required to reinvest in our global footprint and capture emerging growth opportunities.
The next horizon: IGNITE 2030
As we look toward 2030, our financial strategy transitions from transformation to disciplined acceleration under our IGNITE 2030 framework. From a financial perspective, our mandate is to translate our market position into sustained, profitable growth.
We are moving forward with a rigorous focus on operating leverage – enhancing network efficiencies and advancing digitalization to ensure our cost structure remains lean and scalable. By optimizing our portfolio and prioritizing organic growth alongside thoughtful consolidation, we are well positioned to capitalize on the strong underlying industry trends and to further strengthen our resilience and deliver attractive returns on invested capital.
Looking ahead
To support these ambitions and to ensure we have an optimal platform for our future, we are currently evaluating a range of strategic options to support further growth, including a potential public listing. While no decision has been taken at this time, our record performance and reinforced balance sheet provide a foundation of significant strength from which to evaluate our next steps.
We enter 2026 with the momentum, the discipline, and the capital required to lead our industry into its next era.
Sincerely,
Urs Schwendinger
Chief Financial Officer