Autogrill in 2003: at constant exchange rates net sales rise 4.2% and Ebitda leaps 14.3%. Stronger profitability in Italy, North America and, in particular, in “other European countries”.

Tuesday, January 27, 2004

Milan, 27 January 2004 - At a meeting today chaired by Gilberto Benetton, the Autogrill S.p.A. Board of Directors examined preliminary Net Sales and Ebitda figures for the year to December 31, 2003. The results reflect positive progress with regard both to 2002 and to the targets set for 2003. Group net sales.
Group net sales for 2003 totaled 3,143.3 million euros, an increase of 4.2% at constant exchange rates. At current exchange rates, the depreciation of the dollar against the euro pushed consolidated net sales down by 5.2%.
The US subsidiary HMSHost reported a strong performance, completing its acquisition of Anton – the third American airport food & beverage service provider – and boosting revenue in the airport channel by 9.8% to counter the 2.7% drop in passenger traffic year-on-year (source IATA). Net sales in Italy in the motorway channel were equally significant, with growth of 4.3% towards the previous year.