Aldeasa posts 12.5% revenue rise

Emily Pacey

Print Article E-Mail Article E-Mail Author

Madrid Barajas International airport drives growth for Aldeasa

Spanish retailer Aldeasa has announced that revenues rose by 12.5% to reach €156.8m ($212m) in the first quarter of 2007, compared with the same period last year. EBITDA reached €10.4m ($14.1m), up by 30% compared with the first quarter of 2006.

Owner Autogill claimed that the result was driven mainly by Aldeasa’s retail operation at Madrid Barajas airport, which rose by 18.1% during the quarter, as well as growth of 24.5% in its international operations.

The retailer invested €8.2m ($11.1m) in international development in the first three months of the year, opening the first stores under its new contract at Vancouver International airport. During the equivalent period in 2006, Aldeasa spent €15.8m ($21.4m) on the new terminal four at Madrid Barajas.

The first three months of the year also marked Aldeasa’s first step into Indian travel-retail, where the retailer’s 50:50 partnership with India Tourism Development Corp was awarded the contract to operate retail at Mumbai International airport under a three year contract.

Aldeasa contributed €78.4m ($106m) in revenues to owner Autogrill’s first quarter results, which grew by 9.1% to reach €897.7m ($1.2bn).