SSP Group PLC

SSPG

Equity

ISIN GB00BGBN7C04 / Valor 46119442

LSE London Stock Exchange, SETS (2024-11-21)

GBP 1.55+0.19%

SSP Group PLC
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About company

SSP Group PLC is a prominent operator of food and beverage outlets in travel locations globally, with a recent contract win to operate restaurants and cafés in Terminal 1 at Hurghada International Airport and a secured eight-year deal to run five outlets at Christchurch International Airport. The company's business model revolves around providing catering services to travelers in airports, train stations, and motorway service areas, offering a variety of dining options to meet the diverse needs of passengers on the go. With a strong presence in the travel hospitality sector, SSP Group PLC continues to expand its footprint by securing contracts with airports around the world, enhancing the overall travel experience for customers.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

SSP Group PLC reported an 18% increase in total Group revenues for the nine-month period from 1 October 2023 to 30 June 2024. This growth includes like-for-like sales growth of 10%, net contract gains of 4%, and a 4% benefit from acquisitions.

Regional Performance

In the third quarter of 2024, SSP Group PLC saw a 27% year-on-year sales growth in North America, driven by acquisitions and strong performance. Continental Europe experienced a 7% sales growth, while the UK saw a 12% increase, and APAC and EEME regions reported a 33% rise in sales.

Outlook

SSP Group PLC's expectations for the fiscal year 2024 remain unchanged, as outlined in their Interim Results on 21 May 2024. The company is well-positioned for the peak summer trading period and aims to deliver results in line with their planning assumptions.

Currency Impact

If current spot rates continue through 2024, SSP Group PLC expects a negative currency impact on revenue, underlying EBITDA, and underlying operating profit. This impact is estimated to be approximately (2.0)%, (3.6)%, and (4.6)% respectively, compared to the average rates used for 2023.

UK Railway Station Catering Market

On 12 June 2024, the Office of Rail and Road (ORR) published its final report into the UK railway station catering market. SSP Group PLC welcomes the clarity of the ORR’s findings and will continue to work with network operators to respond to its recommendations.

Summarized from source with an LLMView Source

Key figures

-25.4%1Y

-39.1%3Y

-71.3%5Y

Performance

33.3%1Y

36.3%3Y

57.4%5Y

Volatility