European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank31

Austria · Consumer Cyc.

DO & CO

Its three segments are Airline Catering, International Event Catering, and Restaurants, Lounges & Hotels across three continents.

+226%revenue growth
FY2022–FY2025
+741%net-income growth
FY2022–FY2025
+115%stock return
FY2022–FY2025
+0.8%2026 stock return
current context only

Company profile

Restaurant craft scaled to aircraft, arenas and city landmarks

DO & CO Aktiengesellschaft is the listed Austrian parent behind Airline Catering, International Event Catering, and Restaurants, Lounges & Hotels. Operations run through country and venue companies, including wholly owned airline caterers in Austria, the UK, Italy and the US, 50%-owned THY DO & CO in Türkiye, Demel and Henry subsidiaries, and hotel and restaurant companies in Vienna and Munich. Restaurant-style menu design is the common thread, but the setting changes from aircraft galleys to Formula 1 paddocks, airport lounges and city-centre dining rooms.

Airline and airport catering

Menus, equipment and service are designed around the flight

DO & CO reports more than 60 airline partners. Teams plan menus, design crockery and packaging, coordinate production, train cabin crew and develop lounges around each carrier's service. Flying Chefs support meal preparation and presentation in long-haul business-class galleys. Executive-jet customers can order from a Vienna and Salzburg menu, request special purchases, and add transport, equipment, cleaning, laundry, newspaper or flower services. Delivery is local: DO & CO Airline Catering Austria GmbH, the UK's DO & CO Event & Airline Catering Ltd., DO & CO Italy S.r.l. and named US subsidiaries serve their own markets.

Events and permanent venues

A travelling paddock operation meets year-round city venues

DO & CO has catered Formula 1 Paddock Club guests worldwide since 1992. Its teams also work at FC Bayern Munich matches, Olympiapark, ATP tennis, the Hahnenkamm races and Vienna's Film Festival. Formula 1 moves hospitality between circuits; Munich and Vienna locations support recurring calendars. Permanent settings include the Hofburg, the Wintergarten and Temple at DO & CO Hotel Vienna, Demel's salons, Albertina museum rooms and Platinum Vienna. Wholly owned DO & CO Event Austria GmbH and DO & CO Gastronomie GmbH are named legal operators.

Restaurants, hotels and brands

Guests can encounter the group from Sachertorte to sushi

At Vienna's Haas Haus, the DO & CO restaurant and ONYX sit above Stephansplatz alongside a 43-room boutique hotel; the flagship restaurants and hotel were under refurbishment in Q1 2026/27, with reopening planned for October 2026. The Munich hotel has 31 rooms, two restaurants and the FC Bayern flagship store. Albertina pairs Viennese classics with museum hospitality; Demel contributes hand-made cakes and confectionery, while Henry sells salads, sandwiches, buffets and ready meals. The parent owns 100% of the legal companies behind Haas Haus, Hotel München, Demel and Henry, so these are subsidiaries rather than independent brands merely stocked by DO & CO.

Ownership and footprint

Wholly owned kitchens sit beside controlled and equity-accounted ventures

DO & CO Aktiengesellschaft owns 100% of major Austrian, German, British, Italian, Polish and US operating companies listed in the annual report. THY DO & CO İkram Hizmetleri A.Ş. is different: DO & CO holds 50%, but expanded voting and decision rights give it control, so the Turkish business is fully consolidated. Sharp DO & CO Korea LLC is also 50%-owned, yet equity-accounted. The network spans Austria, Germany, Türkiye, the UK, Spain, Italy, Poland, South Korea and multiple US cities; the contacts page identifies the operator in each market.

Current 2026 update

What is changing at DO & CO in 2026?

DO & CO has moved from pipeline to execution: new airline contracts now carry launch dates, the 150,000-square-metre Istanbul kitchen has a Q1 2028 completion target, and World Cup hospitality was delivered across 20 matches and three host cities.

Latest official evidence Q1 2026/27 route, kitchen and event update Published 12 August 2026

The change in one sentence

Hospitality scale is becoming a timetable of station launches, construction and live events.

Some airline customers entered the Q1 network while others start through October; Istanbul's current operation is distinct from its future kitchen; and the World Cup programme is now completed rather than forecast.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · Airline network

Airline growth now has a station-by-station timetable

During Q1, DO & CO added Royal Air Maroc and EgyptAir in Los Angeles and EgyptAir in Chicago. Separately, the August presentation lists Thai Airways in Milan from July, Air India and American Airlines at London Heathrow from September, and Emirates in Boston plus Air Canada in Los Angeles from October. American's Heathrow service is described as up to 22 flights per day. Contract award, service launch and full operating contribution are different stages, and DO & CO discloses no contract-specific revenue.

02 · Istanbul capacity

The giant Istanbul kitchen now has a Q1 2028 completion target

DO & CO broke ground in January on a 150,000-square-metre Istanbul kitchen that it says will be the largest gourmet fresh-food kitchen. The Q1 presentation now gives a project-completion target of Q1 2028. Separately, it says the current Istanbul operation supports more than 500 flights and 250,000-300,000 meals per day, while third-party business is growing. Those figures describe today's operation, not the future kitchen's added capacity, which is not quantified.

03 · World Cup execution

The World Cup moved from forecast to a 20-match operation

DO & CO says it delivered hospitality across 20 World Cup matches from 11 June to 19 July, serving more than 75,000 VIP guests in Mexico City, Miami and New York/New Jersey, including the final. The April-June Q1 report captures only the tournament's opening phase; the August investor presentation supplies the completed-event total. DO & CO says Bahrain and Saudi Formula 1 cancellations reduced Q1 event revenue but June World Cup matches more than compensated; it does not disclose the World Cup's contract value, profit or margin.

04 · What to watch

Three questions for the next disclosures

Three questions track whether scheduled launches and construction convert into repeatable operating contribution after the World Cup milestone.

  • Airline launchesDo the July, September and October station starts occur as scheduled, and does DO & CO disclose contract-specific scale?
  • Istanbul kitchenDoes construction remain on track for Q1 2028, and what incremental capacity or third-party demand is disclosed?
  • Event calendarWhat contribution follows the World Cup, and are Madrid Formula 1 and the Malaysia replacement race delivered as planned?

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202531+226%+741%+115%