After three quarters in the 2020/2021 financial year, the caterer posted a net loss of 36 million euros.
Do & Co boss Attila Dogudan.
The corona crisis hits the catering company DO&CO with full force in all business areas. Gastronomy, hospitality, travel and aviation are among the worst-hit industries worldwide.
At DO&CO, this led to a drop in sales of 75 percent to EUR 189.9 million and a net loss of almost EUR 36 million in the first three quarters of 2020/2021. The workforce shrank by around 3,000 people. An improvement in the fourth quarter is not in sight.
“Even if no improvement is expected for the fourth quarter of the 2020/2021 financial year, the DO&CO management is assuming that the markets will then gradually open up,” said the unaudited financial report for the first three quarters, which was released on Thursday has been published.
New major customers such as Delta Air Lines in Detroit or Jet Blue in Los Angeles, San Diego and Palm Springs as well as the intensification of the business relationship with Qatar Airways and Etihad give the company confidence.
Also in the other two divisions – “International Event Catering” and “Restaurants, Lounges & Hotel” – DO&CO sees new projects such as a new restaurant complex and boutique hotel in downtown Munich and further gourmet retail activities in Vienna, as well soon also in Munich and London, hope to grow.
Hope for the vaccination
“The increasing number of vaccinations will therefore not only spur the catering business, but also significantly boost all activities in the international event catering division,” says the company, in which Attila Dogudan holds around a third of the shares.
