Final results – year ended 31 December 2017
Gama Aviation Plc announces a 28% rise in underlying operating profits and strong outlook for growth supported by recent £48 million capital raise.
“We are pleased to report financial results for 2017 in line with expectations. In particular, we have increased our operating margins and delivered improved operating cash flow.
Strategically this is an exciting time for Gama Aviation, having recently completed our successful £48 million fund raising. This will allow us to deliver significant growth and scale across all geographies and service lines, enabling us to make further value enhancing acquisitions from within our fragmented market and will help us to fulfil our ambition of becoming the global leader in business aviation services.
In US Air, following the BBA Aviation Plc aircraft management business merger, we are now the market leader in US business aviation management. This offers us cross-selling opportunities into our US Ground division. We will leverage customer relationships across our national network and invest in base facilities to increase the scale and scope of services.
Europe Air is positioned for sustainable growth and we continue to build our offering in Europe Ground. The acquisitions in Europe have been successful and have added significant value.
Recent corporate developments by us in the Middle East and Asia, together with the proposed construction of a business aviation centre in Sharjah will accelerate growth. With Hutchison as a strategic investor, the addition of two experienced non-executive board directors and the strengthened management teams across the regions, we are well positioned for growth in 2018 and beyond.”
Marwan Khalek, Group Chief Executive Officer.
- Revenue $207.4m (2016: $196.1m) up 5.8% on a constant currency basis
- Underlying total operating profit $18.7m (2016: $14.6m) up 28.3% on a constant currency basis
- Net debt decreased by $6.4m to $13.0m (2016: $19.4m)
- Operating cash flow increased by $21.6m to $23.8m (2016: $2.2m)
- Current trading in line with management expectations; company well placed to achieve its expectations for the current year
For the full RNS please see RNS & Notifications
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RNS & Notifications
Click here to view the Final results for the year ended 31 December 2017 presentation.
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Simon Hardy or Harry Nicholas
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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.