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    SSPG   GB00BGBN7C04

SSP GROUP PLC

(SSPG)
  Report
Delayed London Stock Exchange  -  11:35 2022-12-02 am EST
218.50 GBX   +4.05%
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SSP : secures new deal to open three units at Berlin Brandenburg Airport

08/24/2022 | 08:18am EST

SSP Group is to strengthen its presence in the German market bringing world-leading brands Starbucks and Burger King® to the Berlin Brandenburg Willy Brandt Airport Terminal 1.

Starbucks and Burger King® will both feature as part of the airport's mezzanine airside food-court. The Burger King® unit will span 329 m2 and seat 125 customers, while the Starbucks coffee shop will occupy c. 104 m2 space, seating c. 28. An additional Burger King® restaurant with a 285 m2 footprint and seating for c. 126 diners will open landside. These outlets will welcome their first customers in May 2023, and the new operations will employ a total of 75 full-time team members.

In a departure from its traditional styling, the new Starbucks will reflect the urban atmosphere of Berlin. The Burger King® restaurants will offer passengers an extensive range of plant-based products. Alongside its classic menu, the outlet will serve items including the V-Label licensed vegan options, plant-based Nuggets, plant-based Long Chicken® and plant-based Nugget Burger, with a strong focus on taste irrespective of the protein source.

Both brands will feature digital elements, including digital menu boards that change according to the time of day. At Burger King®, customers can use self-ordering technology with 12 self-ordering terminals available airside and another 10 landside that enhance their individual order experience.

Commenting on the win, Jeremy Fennell said; "SSP already has an established business in Berlin, with operations in motorway services and Berlin rail including at Berlin Central Station, Berlin Zoo, Berlin Ostbahnhof and Friedrichstrasse. Winning this new contract at BER Airport Berlin Brandenburg Willy Brandt is an excellent next step, building on this success as we continue to serve the Berlin travelling consumer."

CEO of Flughafen Berlin Brandenburg GmbH, Aletta von Massenbach said; "SSP is a highly competent international food and beverage operator. Their international brands Burger King and Starbucks are an excellent fit with the existing range of food and beverage options at our airport. We are looking forward to a great partnership with SSP, which is already known as a strong player in Berlin's food and beverage market."

Disclaimer

SSP Group plc published this content on 24 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2022 12:17:08 UTC.


ę Publicnow 2022
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Financials
Sales 2022 2 162 M 2 649 M 2 649 M
Net income 2022 -10,8 M -13,2 M -13,2 M
Net Debt 2022 1 316 M 1 612 M 1 612 M
P/E ratio 2022 -154x
Yield 2022 -
Capitalization 1 739 M 2 130 M 2 130 M
EV / Sales 2022 1,41x
EV / Sales 2023 1,07x
Nbr of Employees 23 000
Free-Float 98,5%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 218,50 GBX
Average target price 298,82 GBX
Spread / Average Target 36,8%
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Managers and Directors
Patrick Francis Coveney Chief Executive Officer
Jonathan Owen Davies Chief Financial Officer, Director & Deputy CEO
Miles Eric Collins Director-Group Finance
Michael Clasper Chairman
Mark Smith Chief Digital & Technology Officer
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