Improved margins and net operating cash flows of €348.8m in first nine months
- Consolidated revenues: €4,265.5m, up 0.6% on €4,238.4m in first nine months 2008 (down 6% pro forma)
- Consolidated Ebitda: €479.4m, up 4.3% on €459.6m in first nine months 2008 (down 2.5% on pro forma)
- Ebitda margin: up to 11.2% from 10.8% in first nine months 2008
- Net profits for Group: €107.8m against €111.9m in first nine months 2008
- Net financial indebtedness: €1,904.4m at 30th September 2009, down €263.3m on €2,167.7m at 31st December 2008
Milan, 10 November 2009 - Meeting today, the board of directors of Autogrill S.p.A. (Milan: AGL IM) examined and approved the consolidated results as of 30th September 2009.
The figures at 30th September show a substantial improvement in margins and strong cash flow generation, despite the marked contraction in traffic and consumer spending since 3rd quarter 2008.
“Cash flow generation is our main objective in 2009,” said Autogrill CEO Gianmario Tondato Da Ruos. “In a year as difficult as this, we have strengthened our equity structure by cutting debt. This will be our priority in 2010 as well”.