Margins increase in 2nd quarter 2009 and net cash flow generation of €260.4m

  • Consolidated revenues: €1,441.8m, –0.8% vs. €1,453.6m in 2nd quarter 2008 (–5.7% proforma).
  • Consolidated Ebitda: €163.7m, +3.3% vs. €158.5m in 2nd quarter 2008 (–2.3% proforma).
  • Ebitda margin rises from 10.9% in 2nd quarter 2008 to 11.4% (11% proforma).
  • Net financial indebtedness: €2,089.9m at 30 June 2009, –€219.5m vs. €2,309.4m at 31 March 2009.
Thursday, August 6, 2009 - 12:43

Milan, 06 August 2009 - Today the Board of Directors of Autogrill S.p.A. (Milan: AGL IM) examined the figures for the 2nd quarter and 1st half of the year and approved the 2009 half-year financial report.

The 2nd quarter featured significant economic and financial results despite the persistence of the unfavourable global economic conditions. In 2008 the Group, anticipating the negative trend in traffic and demand, expanded the reorganisation programme originally intended solely for the integration of the retail companies to include food & beverage services.

“The efficiencies implemented resulted in an increase in margins and net cash flow generation from operations despite the significant increase in rents – said Autogrill CEO Gianmario Tondato Da Ruos. - which demonstrate our Group’s ability to be proactive.”

In the 2nd quarter the recession showed signs of relative stability, particularly evident in several countries. In terms of traffic, the negative airport numbers were juxtaposed with the first signs of recovery in motorway traffic in both the most important markets, the United States and Italy.