Autogrill anticipates 23% revenue growth in 2008

Gavin Lipsith

Print Article E-Mail Article E-Mail Author

The Italian owner of World Duty Free, Alpha Airports Group and Aldeasa has said the next three years will be focused on reorganising the company after its acquisition drive

Italian travel-retail and catering conglomerate Autogrill has told shareholders that although it anticipates revenue growth of 23% this year, to €6bn ($9.4bn), it expects the next three years to be ones of reorganisation rather than growth. The company, which achieved revenue growth of 23.7% in 2007 and is anticipating profits of €600m ($945m) this year, will spend until 2010 digesting its recent acquisitions of World Duty Free and the remaining 50% stake in Aldeasa.

Autogrill CEO Gianmario Tondato da Ruos said: “2008, 2009 and 2010 won't be years of growth but of reorganisation after the latest acquisitions. They will be years of digestion of the latest operations.”

Autogrill also appointed a new board of directors at the shareholders’ meeting yesterday (April 24). The company is controlled by the Benetton family, which holds a 57.1% stake in Autogrill.