Do & Co Aktiengesellschaft · VIE:DOC
Do & Co Aktiengesellschaft — H1 2025/2026 Earnings Presentation
34 slides from Do & Co Aktiengesellschaft's earnings presentation, Nov 12, 2025
Slide 1: Investor Presentation First Half Year 2025/2026
INVESTOR PRESENTATION First Half Year 2025/2026 1
Slide 2: Highlights
Highlights
Slide 3: Highlights at a glance
1 Highlights Highlights 1st Half Year 2025/2026 vs. HY1 2024/2025 at a glance Revenue € 1,236.8m +9% EBITDA € 149.7m + 24 % EBIT € 106.7m + 28 % Net Result € 53.5m + 21 % 2025/26 2025/26 2025/26 2024/25 2024/25 2024/25 Change Group Q1 Q2 HY 1 Q1 Q2 HY 1 vs. PY EBITDA margin 12.0% 12.2% 12.1% 10.0% 1
Slide 4: Highlights in numbers
1 Highlights Highlights 1st Half Year 2025/2026 vs. HY1 2024/2025 in numbers SALES EBITDA EBIT 981.9 m€ 115.9 m€ 81.7 m€ Airline Catering +11 % +26 % +31 % International 164.8 m€ 20.5 m€ 16.0 m€ Event Catering +1 % +12 % +8 % Restaurants, Lounges 90.1 m€ 13.3 m€ 9.0 m€ & Hotels +11 % +30 % +46 % 4
Slide 5: Highlights at a glance 1st Half Year 2025/2026
1 Highlights 1st Half Year 2025/2026 Highlights at a glance first time > € 1.2bn in sales in HY1 | 8.6 % EBIT margin | 4.3 % Net result margin FREE CASHFLOW : € 107.8m - vs. € 76.9m in HY1 2024/2025 (+ 40.2 %) NET DEBT / EBITDA ratio : 0.4 - vs. 0.7 in HY1 2024/2025 EQUITY RATIO : 38.3 % - strong im
Slide 6: The main pillars of the DNA
1 Highlights THE 3 MAIN PILLARS OF THE DO & CO DNA The 3 main pillars Back to the roots - this is what we stand for of the DO & CO DNA committed to our principles Highest customer satisfaction through always prioritizing innovation, sustainable high quality and people’s motivation Passion for Sustai
Slide 7: Airline Catering
Airline Catering
Slide 8: Airline Catering: Our mission
2 Airline Catering Our mission 1st Half Year 2025/2026 vs. HY1 2024/2025 the best restaurant experience over 39,000 feet Revenue EBITDA EBIT € 981.9m € 115.9m € 81.7m + 11 % + 26 % + 31 % • Ongoing good load factors, especially in premium cabins • Numerous new clients through strong tender participa
Slide 9: TÜRKIYE - Turkish Airlines
2 Airline Catering Status quo & Outlook TÜRKIYE - Turkish Airlines • BEST HOSPITALITY EXPERIENCE in all cabins and lounges • ONGOING PRODUCT INNOVATION • S K Y T R A X AWARDS 2025 : - BEST AIRLINE IN EUROPE for the 10th time ! - WORLD’S BEST BUSINESS CLASS CATERING • 500+ FLIGHTS / DAY (only IST) •
Slide 10: British Airways LHR / Iberia MAD
2 Airline Catering Status quo British Airways LHR Iberia MAD • VERY PROUD OF THE CLOSE PARTNERSHIP • VERY GOOD OPERATIONAL PERFORMANCE in LHR and MAD • FRESH DO & CO MENUS − in all cabins − very positive customer feedback • IBERIA − award winning guest experience − AMBASSADOR OF SPANISH GASTRONOMY 1
Slide 11: Delta Air Lines
2 Airline Catering Status quo Delta Air Lines One of the world`s biggest fleets • ONE OF THE STRATEGIC PARTNERS IN THE US • CLOSE COOPERATION BETWEEN DELTA AND DO & CO • SERVING IN − Detroit − Boston − Miami − Seoul | Korea − New York - one of Delta’s biggest hubs ~ 220 flights per day 11
Slide 12: USA - Jet Blue and New Clients
2 Airline Catering Status quo USA - Jet Blue • FURTHER STRATEGIC PARTNER IN THE US • CONTRACT EXTENSION for another 2 years in Dec 2024 • hub caterer in New York, JFK since December 2021 • all long-haul and short-haul flights • up to 180 flights per day USA - New Clients • DO & CO - MIAMI - Aer Ling
Slide 13: New Contracts – Rest of World
2 Airline Catering Status quo NEW CONTRACTS – REST OF WORLD Air Canada ex FRA, MUN Air Dolomiti ex VIE All Nippon Airways ex LHR Cathay Pacific ex MUN Egypt Air ex MXP Etihad Airways ex WAW EVA Air ex LHR Oman Air ex IST Scoot ex VIE Vietnam Airlines ex MXP 13
Slide 14: International Event Catering
International Event Catering
Slide 15: International Event Catering: Our mission
3 International Event Catering Our mission 1st Half Year 2025/2026 vs. HY1 2024/2025 the world's leading premium hospitality and Revenue EBITDA EBIT gourmet entertainment experience € 164.8m € 20.5m € 16.0m +1% + 12 % +8% • innovative concepts • best quality • F1 : strong demand in all races • No EU
Slide 16: Formula 1: DO & CO's 34th Season
3 International Event Catering Status quo Formula 1 DO & CO's 34th Season • exciting season with Japan, Bahrain, Saudi Arabia, Miami, Emilia-Romagna, Monaco, Spain, Canada, Austria, Silverstone, Belgium, Hungary, Zandvoort, Monza and Baku • strong demand in all locations continues • high customer sa
Slide 17: Allianz Arena
3 International Event Catering Status quo Allianz Arena DO & CO is responsible for culinary delights at FC Bayern Munich’s home base • long term partnership with FC Bayern Munich – VIP hospitality and public catering at Allianz Arena • VIP and public catering during UEFA Champions League final 2025,
Slide 18: Olympic Park and SAP Garden Munich
3 International Event Catering Status quo Olympic Park big open air and indoor events • DUA LIPA | JOHN LEGEND • TATE MCRAE | ROLAND KAISER • ROBBIE WILLIAMS • DRAKE | CRO • in total : ⁓ 530,000 guests SAP Garden Munich multifunctional set up • Red Bull ice hockey and FC Bayern Munich basketball in
Slide 19: The most prestigious events in the world
3 International Event Catering Status quo The most prestigious events in the world - powered by DO & CO • ATP Tennis Masters 1000 Madrid • FIFA Club World Cup • Filmfestival - Rathausplatz • Midsummer Nights Dream - Munich • Super Bloom Festival 19
Slide 20: Restaurants, Lounges & Hotels
Restaurants, Lounges & Hotels
Slide 21: Restaurants, Lounges & Hotels: Our mission
4 Restaurants, Lounges & Hotels Our mission 1st Half Year 2025/2026 vs. HY1 2024/2025 Innovative, Revenue EBITDA EBIT best quality and € 90.1m € 13.3m € 9.0m personalized + 30 % + 46 % customer experience + 11 % • Good sales and strong margin improvements • Very satisfying occupancy level in all loc
Slide 22: DEMEL K. u. K. Hofzuckerbäcker since 1786
4 Restaurants, Lounges & Hotels Status quo DEMEL K. u. K. Hofzuckerbäcker since 1786 • improved overall concept meets guests' expectations • clear retail and gastronomy segmentation • 2 floors Viennese coffee house - high turnover with local and international guests • DEMEL KAISERSCHMARRN - has beco
Slide 23: DO & CO Restaurants Vienna and Munich
4 Restaurants, Lounges & Hotels Status quo DO & CO Restaurants Vienna • Stephansplatz facelift for flagship in progress • Albertina facelift of the terrace complete • ONYX contemporary Asian cuisine DO & CO Restaurants Munich • DO & CO Bistro mediterranean cuisine • DO & CO Restaurant contemporary A
Slide 24: DO & CO Hotels Vienna and Munich
4 Restaurants, Lounges & Hotels Status quo DO & CO Hotels Vienna and Munich DO & CO STEPHANSPLATZ : • flagship of the group • one of the most scenic locations in the city • basis for the group´s R & D and innovation activities DO & CO MUNICH : • luxury Boutique Hotel in the heart of the city • repea
Slide 25: Airport Gastronomy and Airport Lounges
4 Restaurants, Lounges & Hotels Status quo Airport Gastronomy and Airport Lounges Airport Gastronomy Vienna • established partnership for more than 10 years • new restaurants and food concepts and refurbishing completed • increase in air traffic shows positive effect on passenger numbers and sales L
Slide 26: Financials
Financials
Slide 27: 1st Half Year 2025/2026 Income statement Group
5 Financials 1st Half Year 2025/2026 Income statement 1 HY 25/26 1 HY 24/25 Change Change • strong revenue growth over last year Group in % as DO & CO delivers € 1,236.8m of Revenue m€ 1,236.8 1,131.1 105.7 9.3% revenues in the first half-year of EBITDA m€ 149.7 120.3 29.3 24.4% 2025/2026 Depreciati
Slide 28: 1st Half Year 2025/2026 Income statement
5 Financials 1st Half Year 2025/2026 Income statement • revenue in HY1 2025/2026 is well Group Q1 25/26 Q2 25/26 1 HY 25/26 Q1 24/25 Q2 24/25 Q3 24/25 Q4 24/25 1 HY 24/25 above the previous year resulting in an 8.6 % EBIT margin Revenue m€ 611.7 625.1 1,236.8 551.5 579.7 643.0 524.0 1,131.1 EBITDA m
Slide 29: 1st Half Year 2025/2026 Divisions
5 Financials 1st Half Year 2025/2026 Divisions Q1 25/26 Q2 25/26 1 HY 25/26 Q1 24/25 Q2 24/25 1 HY 24/25 Change PY Change PY Airline Catering Airline Catering in % Revenue m€ 467.2 514.7 981.9 419.6 467.8 887.3 94.6 10.7% • strong sales increase thanks to good EBITDA m€ 54.7 61.1 115.9 40.2 51.7 91.
Slide 30: 1st Half Year 2025/2026 Balance sheet
5 Financials 1st Half Year 2025/2026 Balance sheet 30/09/2025 31/03/2025 Change Change Assets in m€ in % • overall extension of the balance Intangible assets 23.3 23.6 -0.2 -0.9% sheet in HY1 2025/2026 driven by: Property, plant and equipment 534.1 551.1 -17.0 -3.1% Investment property 2.3 2.4 -0.1
Slide 31: 1st Half Year 2025/2026 Balance sheet
5 Financials 1st Half Year 2025/2026 Balance sheet 30/09/2025 31/03/2025 Change Change Shareholders' equity and liabilities in m€ in % • rise of equity ratio to 38.3 % thanks Shareholders' equity 486.5 457.9 28.5 14.0% to increase in retained earnings and Equity ratio in % 38.3% 35.8% 2.5 pp non-con
Slide 32: 1st Half Year 2025/2026 Cash flow
5 Financials 1st Half Year 2025/2026 Cash flow 1 HY 25/26 1 HY 24/25 Change Change in m€ in % • increase in cash inflow from operating Gross cash flow 145.1 118.4 26.7 22.5% activities by € 17.4m compared to Changes in working capital 2.6 2.6 0.0 -1.7% HY1 2024/2025 due to higher Income tax payments
Slide 33: Covenant Testing Net Debt to EBITDA
5 Financials Covenant Testing Net Debt to EBITDA • pleasing “Net Debt to EBITDA” driven by high operational result and free cash flow • the actions initiated by the management board resulted in a further reduction of the “Net Debt to EBITDA” ratio to 0.4 for business year 2025/26 (result strongly co
Slide 34: DO & CO Aktiengesellschaft Vienna, 12 November 2025
DO & CO Aktiengesellschaft Vienna, 12 November 2025
DO & CO Aktiengesellschaft — H1 2025/2026 Earnings Presentation on 6ix