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Welcome to Gama Aviation

March 20 2019

Half year results – 2018

“The first half of the year has been a busy period with the equity placing and refinancing completed, and progress across our operations. We continue to scale up across all geographies and service lines and develop our pipeline of value enhancing acquisitions. We remain confident in delivering our future growth plans and strategic objectives.”

Marwan Khalek, Group Chief Executive Officer.

Financial highlights

  • Revenue $104.6m (2017: $108.1m)
  • Gross profit $22.1m (2017: $22.7m)
  • Gross profit margin of 21.1% (2017: 21.0%)
  • EBITDA $8.1m (2017: $8.4m)
  • Underlying total operating profit $7.1m (2017: $8.1m)
  • Net cash $21.1m compared to net debt at 31 December 2017 $13.0m (net debt 30 June 2017: $14.3m)
  • Group’s expectations for the full year remain unchanged

Operational highlights

  • US Ground delivered strong organic growth
  • Europe Ground delivered a flat performance in difficult market conditions
  • US Air continued to grow, benefiting from growth in the Wheels Up fleet
  • Europe Air delivering improved operating profit margins
  • Middle East and Asia continue to develop and scale


“The Group’s expectations for the full year remain unchanged. The US continues to grow strongly, market conditions in Europe remain challenging but stable with new business wins in Europe ground flowing through in the second half of the year. In the Middle East and Asia, the divisions continue to make steady progress in scaling up their operations.”

Marwan Khalek, Group Chief Executive Officer.

For the full RNS please see RNS & Notifications

Share price performance data

RNS & Notifications

Results presentation

Click here to view the half year results for the period ended 30 June 2018 presentation. The presentation will be available from 11am on 24.9.18.

Further information

Jefferies International
+44 (0) 207 029 8000
Simon Hardy or Will Soutar

Investor relations
+44 (0) 203757 4992
Ginny Pulbrook or Geoffrey Pelham-Lane

Aim Rule 26 disclosure

Gama Aviation Plc (AIM:GMAA) is incorporated in the UK and is subject to the UK City Code on Takeovers and Mergers. There are no restrictions on the transfer of its AIM securities. Shares in Gama Aviation Plc are not traded on any exchanges or trading platforms other than the AIM market.

The information contained within this section of the website has been disclosed for the purposes of AIM Rule 26.