Operating worldwide, the group reported consolidated revenues of €1.6 billion – down -2.8% year-on-year. That said, adjusted for currency-related factors, revenues grew by 4.4%.
Accounting ‘negative’ currency effects and its ‘voluntary withdrawal’ from certain markets and customer contracts for the dip, chief financial officer Kristin Neumann added: "Our earnings situation continues to be burdened by the high costs of restructuring our activities in view of changing customer requirements.
"However, our operating business is developing very well worldwide, and we see great success in the global expansion of our on-board retail activities in particular."
That said, adjusted EBIT for the period was €40 million – more than 200% higher than in the first half of 2017 – which was “primarily due to lower transformation costs.”
Other group highlights from the period include:
- LSG Sky Chefs extended its airline catering contracts with United Airlines, American Airlines, LATAM and Cathay Dragon
- Retail inMotion won a contract to manage on-board retail activities for Etihad Airways
- The Group’s catering joint venture in Luanda was extended ahead of schedule
- Its Brussels-based facility won the QSAI Excellence Award for the best catering facility in Europe
- Approval to build two regional production facilities: the Czech Republic and western Germany
Chief executive Erdmann Rauer concluded: "In view of the increasing passenger numbers worldwide and our very clear successes in creating innovative service concepts, we are and will remain well positioned.
“LSG Group is very focused on investing in the restructuring of our activities and the expansion of our portfolio, in order to successfully and sustainably secure the long-term future of the Group."