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Consolidated revenues: €5,794.5m, up 19.2% on €4,861.3m in 2007
Results in 2008
- Food & Beverage revenues: €3,924.6m, up 1.2% on €3,877.6m in 2007
- Travel Retail & Duty Free revenues: €1,438.7m, up 116.9% on €663.3m in 2007
- In-Flight revenues: €431.2m, up 34.6% on €320.4m in 2007
- Consolidated Ebitda: €601.5m, up 7% on €562.4m in 2007, after restructuring costs (€20.2m)
- Investments: €337.3m, up 21.2% on €278.2m in 2007
- Contract renewals on Italian motorways: 45 concession contracts
- Net profits, Group: €123.2m against €158.1m in 2007, due to acquisitions
- Net financial indebtedness: €2,167.7m against €1,162.2m at 31st December 2007.
Strong cash flows from operations: €429.6m
Outlook for 2009
- Consolidated revenues are expected to be between €5,720m and €5,900m, with Ebitda between €575m and €625m, on the basis of two forecast traffic levels: one sees a sustained contraction throughout 2009, the other a gradual recovery in the 2nd half.
- Investments: €160m
Milan, 12 March 2009 - Meeting today, the board of directors of Autogrill S.p.A. (Milan: AGL IM) examined and approved the consolidated results at 31st December 2008*.
The Group closed 2008 with all its results in line with the targets it had announced to the market, despite the downward trend in the global economic scenario, which became particularly evident in the last quarter.
“Autogrill organized itself to overcome the effects of the contraction in traffic caused by the global economic crisis,” said Autogrill chairman Gilberto Benetton. “Our management has dealt with emergencies in the past and knows how to deal with them in the long term. In this new context we will maintain the cash flows we originally forecast in order to gradually reduce our net financial indebtedness.”
*The consolidated financial statements and the draft statements of the parent company are currently under audit