Autogrill AGM approves 1999 financial accounts. Margins and revenues double. 80 lire per-share dividend. Paolo Prota Giurleo confirmed as CEO

Friday, April 28, 2000 - 00:00

Milano , 28 April 2000 - The Shareholders’ Meeting of Autogrill S.p.A. today approved the financial accounts for 1999. Main results. The Group’s net revenues for the twelve months of 1999 were 5,133.8 billion lire (€2.65 billion), an increase in absolute terms of 2,958.4 billion lire (€1.53 billion) compared with 1998 (2,175.4 billion lire, €1.12 billion). The consolidation includes the operations of HMSHost and Autogrill Restauration Services (formerly Frantour Restauration), which were acquired during the year: comparison of 1999 performance with 1998 proforma accounts adjusted for uniformity with 1999 shows revenue growth of 7.2%. Group income for the year was 50.2 billion lire (€25.9 million), excluding extraordinary costs and other acquisition-related charges, compared to 65.5 billion lire in 1998 (€33.8 million). Consolidated cash-flow, i.e., income plus depreciation and amortisation was 395 billion lire (€204 million), almost double the figure for 1998 (up 83.2%).