Autogrill announces positive first-half results

Nicole Mezzasalma

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Good performance by all regional businesses boosts profits

Italian retail group Autogrill has announced positive financial results for the first half of 2007 with all of the group’s businesses showing increased revenues in the period. Consolidated revenues rose by 15.1% to €2.03bn ($2.81bn) and consolidated EBITDA grew by 9.2% to €222.9m ($308.4m) compared with the same period in 2006. Net profit for the group was up by 5.5% to €52.2m ($75.2m).

All geographical-organisational regions posted double-digit revenue growth in the first six months of 2007. Spanish retail operator Aldeasa, of which Autogrill owns 50%, enjoyed a revenue increase of 13.3% to €374m ($517.2m), up from €330m ($456.4m) in the first half of 2006. Autogrill’s revenues in North America rose by 13.8% to $1.15bn, while the company’s European revenues were up 14.8% to €897.9m ($1.24bn).

A company statement also said that annual sales at week 35 of 2007 were up by 20.6% compared with the same period in 2006. The company’s outlook for 2007 forecasts revenues of more than €4.8bn ($6.6bn), EBITDA of about €560m ($775m) and unspecified investments of about €290m ($401m).