Famous Viennese catering business posts unprecedented earnings success
Fresh Take:
_DO&CO outperformed last year with a 35% increase in EBIT to 183.6 million euros, a 40% growth in the group result to 92.43 million euros, and a 26% jump in revenue to 2.298 billion euros. Employee numbers grew by 14% to 15,255, and the EBIT margin settled at 8%. The listed company recorded its best results ever.
DO&CO CEO Dogudan: "The state must save itself," all divisions reported increased demand. In spite of repaying around 172 million euros in final loans, the company maintained a liquid assets balance of 174.17 million euros. According to Thursday's release, DO&CO's share price was 138.40 euros at the end of the 2023/2024 business year and has since risen to 163 euros. Consequently, the board will propose a dividend of 2 euros per share. The 100 million euro corporate bond issued in January 2021 was fully redeemed during the 2024/25 business year.
Imperial Gourmet Kitchen in Istanbul
The Airline Catering segment saw a "notable" turnover increase of 31.7% to 1.8 billion euros. EBIT was 137.17 million, up from 96.51 million euros in the 2023/24 business year. The USA became the main growth driver. "A major operational focus throughout the business year was the introduction of Delta Air Lines at the JFK location, one of the largest locations of the airline in the USA," said the Turkish roots caterer, emphasizing the close cooperation and joint venture with Turkish Airlines in Turkey. The plan for a world-class gourmet kitchen at the new Istanbul airport is also underway, aiming to create one of the largest gourmet kitchens globally.
DO&CO CEO Dogudan: "I dislike the term work-life balance," the International Event Catering division prospered in the 2024/2025 business year due to increased demand for events, higher spectator numbers at Formula 1 races, the UEFA EURO 2024, and the opening of the SAP Garden Munich in September. Turnover was 305.31 million euros (previous year: 287.40 million euros). EBIT was 31.39 million euros (2023/24: 29.15 million euros). DO&CO has extended its contract with Formula 1 organizers for another ten years as the exclusive culinary partner.
Michelin-Starred Hotel in Munich
The Restaurants, Lounges & Hotels division achieved a turnover of 172.53 million euros in the 2024/2025 financial year, up from 150.36 million euros the previous year. EBIT was 15.05 million euros, up from 10.13 million euros the previous year. The division won the tender for the restaurant and events in the state rooms of the Albertina (Vienna, Austria). The DO&CO hotel in Munich was also awarded a "1-Michelin-Star" in the Michelin Guide 2024.
DO&CO, a culinary powerhouse with Turkish roots, dominates the hospitality and airline industry. Established in 1984 by Attila Doğudan, it offers services in Airline Catering, International Event Catering, and Restaurants, Lounges & Hotels. Recently, its Airline Catering segment has seen significant growth, particularly in the USA. The company is also renowned for its successful event catering services and upscale dining establishments such as the DO&CO Restaurant Stephansplatz in Vienna. The freshest addition to its portfolio is the planned world-class gourmet kitchen in Istanbul, aiming to become one of the largest globally.
- The Airline Catering segment, a division of DO&CO, experienced a substantial 31.7% increase in revenue within the industry, contributing to the company's growth in the finance sector.
- DO&CO, a company with a strong presence in the hospitality and airline industry, recently won a tender for the restaurant and events in the state rooms of the Albertina, expanding its reach in the Restaurants, Lounges & Hotels segment of the business world.
