Sita reports record revenues approaching £1 billion

By Travolution
By Travolution
June 19, 2014 02:37 PM GMT

by Martin Ferguson in Brussels

Sita today reported that its group revenue for 2013 had grown 4% year on year to almost £1 billion.

The global IT firm revealed the results following its annual general assembly (AGA) in Brussels, which took place alongside its annual airline IT conference.

The company said the record revenue was enhanced by a strong sales performance, a healthy cash balance and low debt.

Chief executive Francesco Violante said Sita was stronger due to a long-term strategic vision and the recent transformation of its product portfolio.

“In 2013 we had a particularly strong year,” he said.

“We succeeded across a range of indicators including revenue, margin, cash flow, customer loyalty and achieving a record £1.3 billion in contracts, more than half of which was new business.”

Looking ahead, Violante said Sita would continue to invest in operations, service quality and people.

He added: “As 2014 marks the 100th year of commercial flight, Sita is well positioned to continue to enable the ever-changing technology needs and growth requirements of the air transport industry well into the next decades.”

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