DO & CO AG Shows Resilience Amidst Middle East Challenges

DO & CO AG demonstrated resilience in Q1 despite facing difficulties in the Middle East. Sales increased by 5% year-on-year to €642 million, and EBIT rose by 8% to €57 million, aligning with market expectations. The ongoing Middle East conflict affected sales by approximately €40 million. Adjusting for this, growth would have reached around 11% year-on-year. Net results increased by 16% to €31 million, supported by improved financial outcomes, notably in Turkish cash interest income.

Airline Catering saw a sales increase of 4% to €484 million, or 9% when adjusted for the Middle East. Türkiye notably contributed, with a 17% rise in segment sales. International Event Catering's sales grew by 11% to €112 million, seeing successful results from the FIFA World Cup despite some cancellations in Bahrain and Saudi Arabia. Restaurants, Lounges & Hotels sales rose by 7% to €47 million, buoyed by sustained city tourism.

Future growth is expected with several new airline contracts. The company also explores new opportunities following the World Cup in the US stadium hospitality market.