Onboard catering and service provider LSG Group has announced its results for 2019. The group closed the 2019 financial year with consolidated revenues of €3.4 billion.
The company says that, adjusted for currency effects, the result was up 2.3 per cent over the previous year.
According to the company, several contract renewals, opening of new locations and forming strategic partnerships has provided the group with a solid foundation for coping with difficulties such as the current coronavirus crisis.
“Our annual result, with record sales and earnings growth, is definitely something to be proud of; we can be proud of our performance,” said chief financial officer and labour director of the LSG Group Dr. Kristin Neumann.
“The year was not an easy one for our organisation, which had to manage the ongoing sales activities related to our European business, including some expert brands, and compensate for the loss of two major clients the prior year.”
“This has given us the strength for what is coming ahead with the coronavirus, which will surely keep us on our toes and present us with an even greater challenge. We are in a severe crisis, but we are well prepared for it.”
Delta Air Lines, United Airlines and AirBaltic signed contract extensions last year with LSG Sky Chefs. “Our numerous awards – like the ones won at the QSAI Awards, for example – underscore the fact that we continue to stand for quality and reliability,” said LSG Group CEO Erdmann Rauer.
Referring to the company’s new cooperation with Barilla, the world’s largest pasta producer, and its business success of Retail inMotion, Rauer noted: “When it comes to partnerships and digitalisation, we are one step ahead.”
The onboard retail expert brand took over the on-board sales of the Cathay Pacific Group in 2019 and was named In-Flight Retailer of the Year at the Frontier Awards.
LSG Group says it expects the coronavirus pandemic to impact its results for 2020.