Autogrill consolidated revenues to reach €6.6 billion in
Synergies of €45m per year expected to be delivered from 2010, ahead of initial forecast
Business plan for 2008-2010
- Consolidated revenues in 2008: €5,780m, and average annual growth of 6.9% to 2010
- Consolidated Ebitda in 2008: €600m (net of restructuring costs of around €17m), and average annual growth of 11.1% to 2010
- Debt/Ebitda ratio: 2.5x by 2010.
Provisional revenue figures for 1st half 2008
- Consolidated revenues: +25%, with organic growth of over 6%
- Revenues in North America: +10% in local currency
- Revenues in Italy: +4%; revenues in the rest of Europe: +9%
- Revenues by Aldeasa: +4%
- Revenues by Alpha Group: in line with the same 2007 period
- Revenues by World Duty Free: +9% in local currency
London, 16 July 2008 - Autogrill (Milan: AGL IM) will present today its strategic guidance and objectives for the 3-year period 2008-2010 to the financial community and will also announce its provisional revenue results for 1st half 2008.
“Our short-term objective is to reduce net financial indebtedness without compromising development and investments. An objective we will achieve thanks to the Group’s strong cash flow generation capacity,” Autogrill’s CEO Gianmario Tondato Da Ruos said. “The main economic indicators for the 3-year period 2008-2010 show revenue growth and a significant increase in Ebitda, a clear demonstration that our priority is operational efficiency.”