MILAN — The Board of Directors of Autogrill S.p.A. HAS reviewed and approved the consolidated revenue performance, as of 30 April 2018.
Group revenue
Consolidated revenue in the first four months of 2018 of €1,329.5m, an increase of 5.3%[1] (-2.7% at current exchange rates) on the previous year’s €1,366.4m.
Solid like for like growth of 4.1%, mostly driven by very positive performance in the airport channel.
New openings basically offset closings: new openings were mainly in International, including in Northern Europe (Norway) and Asia (Vietnam and India), while closings include the planned exit from the shopping center channel in North America and the completion of the plan launched in 2016 to reduce the Group’s motorway presence in Italy.
Net positive contribution of acquisitions and disposals: the acquisition made in February 2018 of Le CroBag, a food & beverage operator with activities in German railway stations, more than offsets the disposal of non-strategic activities in Europe.
Negative currency impact of more than €100m, due to the fall of the US Dollar against the Euro1.
As of 30 April 2018, positive revenue performance across all regions:
– North America: revenue growth at airports is of particular importance in the context of inflationary pressures on labor cost and raw materials within the restaurant sector
– Italy: revamped food offering is delivering and supporting revenue performance on motorways
– European airports (Europe and International divisions): benefitting from a particularly strong traffic.
1 Data converted using average FX rates: FX €/$ April 2018 YTD avg. 1.2288 and April 2017 YTD avg. 1.0664.
