Autogrill: net profits reach €103.4m, against €37 in 2009
- Flight business: deconsolidated following transfer executed on 31st December 2010
- Revenues: €5,703.5m, up 7.1% on €5,325m in 2009 (up 4.5% at constant rates)
- Ebitda: €605.4m, up 7.3% on €564.1m in 2009 (up 4.4% at constant rates)
- Ebitda margin: 10.6%, stable with respect to 2009
- Cash flow : €272.5m, up 19.4% on €228.2m in 2009
- Investments: €224.9m, up 49.7% on €150.3m in 2009 (up 44.2% at constant rates)
- Net financial indebtedness: €1,575.5m at 31st December 2010, down €358.9m on €1,934.5m at 31st December 2009
- Dividend proposal: €0.24 per share, ex dividend date on May 23rd and payment date on May 26th
Outlook for 2011
• On the basis of two possible scenarios for traffic growth and economic trends, consolidated revenues in 2011 are expected to be between €5,800m and €5,900m, with Ebitda between €610m and €640m
• Investments: €250m
In the first eight weeks of 2011, revenues were up 2.7% at constant rates on the same period in 2010.
Milan , 08 March 2011 – Meeting today, the Board of Directors of Autogrill S.p.A. (Milan: AGL IM) examined and approved the consolidated financial statements and the Company’s draft financial statements for 2010 .
In 2010, Autogrill posted positive income and financial results showing an improvement on the previous year in an economic scenario in which increases in international trade and travel pointed to recovery. Albeit unevenly, the year was marked by a recovery in traffic in the airport channel, which showed faster growth than motorways. This trend favoured performance more in Travel Retail & Duty Free, which is concentrated exclusively in airports, than Food & Beverage, which has more substantial operations on motorways.