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CONTINUED FOCUS ON TOP LINE GROWTH
- Steady growth in traffic globally
- Favorable customer demographic with propensity to spend and natural protection from eCommerce
- Maintaining the global market leadership through organic growth and bolt-on acquisition
- Continued development of a strong brand portfolio to offer the best solution to each location
CREATING VALUE THROUGH CAPITAL ALLOCATION
- Active capital allocation strategy for a continuous enhancement of the contract portfolio
- Allocating capital to the best opportunities in terms of profitable growth
- Keeping a solid balance sheet
PROFITABILITY ENHANCEMENT
- Continued development of innovative commercial offer
- Shared best-practice worldwide
- Leveraging on scale and unique market positioning worldwide
- Digital innovations to increase efficiency and speed of transactions
Scenario
Source: Euromonitor, Girà, ACI, IMF, Company estimates
Strategic pillars by region
- Drive incremental business with existing locations
- Retain existing profitable contracts and secure new contracts
- Maintain profitability
- Become market leader at airports in selected fast growing markets
- Expand in new geographies only where sizeable opportunities arise
- Focus mainly on airport channel
Italy
- Focus on product offering
- Focus on motorways and airports
- Profitability enhancement
Rest of Europe
- Increase presence at airports
- Defend position in motorways
- Develop railway stations further
Financial target
Figures excluding the impact of IFRS16. Assuming €/$ FX of 1.15
2021E:5xvs. 20182
1) Free cash flow = cash flow before Dividends, Acquisitions and Disposals
2) FY2018 Free Cash Flow = €33m
Figures pre-application of IFRS16. Assuming €/$ FX of 1.15
REVENUE
Like-for-Like performance
Steady growth in traffic globally, coupled with increasing spend per passenger
L-f-L growth driven by airports
Airports Net openings & bolt-ons
New contract wins
Convenience Retail in North America as a new source of growth
Motorways Net closings
Further rationalization
Railways Net openings
Further expansion
Other channels Net closings
Progressive exit from noncore locations
Each 0.01 movement in Euros to the US Dollars exchange rate has a +/- €20-30m annualized impact on 2019–2021 revenue
Revenue growth will be mainly driven by the like-for-like performance
Assuming €/$ FX of 1.15 for 2019 onwards. 2018 revenue rebased for:
- The disposal of Canadian motorways and Czech Republic occurred in 1H2019
- The expiration of T&R motorway agreement occurred in 1H2019
- €/$ FX of 1.15
PROFITABILITY ENHANCEMENT
North America: slight margin improvement
International: completion of the start-up phase of recently opened locations
Europe: strong margin expansion driven by self-help initiatives
Figures pre-application of IFRS 16. Assuming €/$ FX of 1.15 for 2019 onwards
CAPEX
Assuming €/$ FX of 1.15 for 2019 onwards
Innovation
DIGITALIZATION
Autogrill is leveraging digital to speed up the customers’ journey
Digital kiosks and Tabletop
Service more customers and reduce
operating expenses
- Kiosks plan in US with roll out in about 130 QSR locations
- Tabletop & pay at the table solutions in several table service restaurants
- Streamline order taking
- Breakdown of waiting time for guests
- Eliminate ordering errors
- Average ticket increase +18% - 20%
Mobile order and payments
Speed of transaction is essential for customers Improved customer experience, optimized operations
Allow multiple ordering and payment methods- Mobile order& pay through proprietary app ( Host2Coast),3rd party apps ( Grab, Flio) or sing QR and NFC technolgies
- Pick up the order at the restaurant or have it delivered at the airport gate services
- Mobile Payments: partnerships in North America with Alipay and Freedompay and in Europe with several providers
- MyAutogrill app enabling mobile payments in Italy:2% penetration of mobile payments through apps
- Streamline payment processes
- Minimize queuing