Autogrill, FY2020 preliminary figures: revenue of €2.0bn; €0.6bn in cash and available credit facilities at the end of the year; €5.3bn new contract wins and renewals

Twelve months ended 31 December 20201

  • Revenue: €1,983.7m (€4,996.8m in FY2019), -60.3% at current exchange rates (-59.8% at constant exchange rates2), due to the persisting effects of the COVID-19 pandemic 
    • Motorways channel continues to prove more resilient than the other channels 
    • Airports performance remains subdued, with North America showing a continued gradual improvement since April bottom driven by domestic traffic recovery
    • Other channels performance is still weak, mainly due to the increasing work-from-home trend
  • Like for like performance3 of -59.3% in FY2020 
  • Autogrill expects FY2020 EBITDA drop-through4 to be in line with the performance of 1H2020 (24%)
  • Liquidity: approximately €0.6bn in cash and available credit facilities at the end of the period, in line with expectations
  • New wins and renewals: approximately €5.3bn5, with Las Vegas and Amsterdam airports taking the lion’s share 

Milan, 11 February 2021 – The Board of Directors of Autogrill S.p.A. (Milan: AGL IM) today reviewed and approved the preliminary consolidated revenue performance for the twelve months ended 31 December 2020.

1 Preliminary and non-audited data
2 Average €/$ FX rates:

  • FY 2020: 1.1422 
  • FY 2019: 1.1195 

3 The change in like for like revenue is calculated by excluding from revenue at constant exchange rates the impact of new openings, closings, acquisitions, disposals and calendar effect. Please refer to “Definitions” for the detailed calculation
4 Drop through = EBITDA variation (positive or negative) driven by the revenue variation (positive or negative)
5 Overall value of the contracts calculated as the sum of expected sales of each contract for its entire duration, converted to € at 2020 current exchange rates

Thursday, February 11, 2021 - 12:13