SSP Group plc (SSPG) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Morning, everybody. Can everyone hear me OK? Yeah, good. Listen, thank you for joining us today for the preliminary results for SSP for the year ended the 30th of September, 2023. For those of you who don't know me either in the room or on the call, I'm Patrick Coveney. I'm the Group CEO of SSP and I'm joined for today's presentation by Jonathan Davis, our Deputy CEO and Group CFO. Sarah John, our Corporate Affairs Director and several other members of our leadership team are here with us as well today. The presentation that we're going to go through builds on the results R&S that we released at 7am this morning. I'm going to start with a brief introduction before Jonathan runs through the financial review, and then I'll come back in to go through the performance and strategic update. We'll then take questions from everyone, both in the room and on the webcast. By way of introduction then, I wanted to give some context for SSP's recent history through COVID and where we sit today. From an almost cessation of travel when COVID hit, the business has transitioned from a focus on protection and near-term hibernation to, for the past 18 months or so, a strong recovery and rebuild phase. We have delivered to plan in this phase. The combination of passenger growth, back to almost pre-COVID levels, together with the actions we have taken, including reopening the estate, rebuilding the economic model, upgrading the customer proposition, strengthening client and brand partnerships, engaging colleagues and embedding sustainability has put us in a very strong position now. The output of all of this is strong financial performance, moving EBITDA from a loss of 108 million in 2021 to profit of 280 million with a near 300 basis point margin improvement year on year. EPS from minus ...