Autogrill: FY2021 revenue of €2.6bn, Free Cash Flow in excess of +€100m

Preliminary figures as of 31 December 20211

  • Revenue: €2,596.8m (€1,983.7m in FY2020), +32.8% at constant exchange rates2 (+30.9% at current exchange rates)
  • Like for like performance3 of +39.0%, with continuous improvement during the year
  • 74% of stores open as of 31 December 2021
  • Revenue in the month of December 2021 up 112% vs. December 2020 at constant exchange rates
  • Performance driven by North America and Italy (respectively +57.1% and +33.6% compared to FY2020 at constant exchange rates)
  • New wins and renewals: approximately €4.3bn4, mainly related to the extension of existing contracts

2021 preliminary figures further improved compared to guidance:

  • FY2021 Free Cash Flow5 guidance in excess of +€100m from previous guidance between +€35m and +€50m
    • Net financial indebtedness excluding lease receivables and lease liabilities at the end of 2021 of around €200m; liquidity (cash and available credit facilities) of around €1bn
  • FY2021 Underlying6 EBIT margin of around -0.5% from previous guidance between -2.5% and -1.5%
  • FY2021 Underlying Net Result of around -€110m from previous guidance between -€170m and -€150m
  • FY2021 Capex / revenue of around 5.5% from previous guidance of not above 6.0%
  • Revenue of €2.6bn in FY2021 resulted in the high-end of the range of the previous guidance between €2.3bn and €2.6bn
  • FY2024 targets remain unchanged
Tuesday, February 15, 2022 - 11:15

Milan, 15 February 2022 – 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 2021.

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