Autogrill revenues up 23.7% in 2007

Nicole Mezzasalma

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The company’s performance was boosted by double-digit growth at HMSHost and Aldeasa

Italian retail group Autogrill has announced a rise in provisional consolidated revenues of 23.7% to €4.86bn ($7.14bn) in 2007. All regions contributed to the increase, with double-digit growth at subsidiaries HMSHost and Aldeasa—a 50-50 joint venture with tobacco supplier Altadis—particularly noteworthy. The US-based division is expected to post revenues of $2.65bn, a rise of 14% compared with $2.23bn in 2006, despite unfavourable conversion rates. Revenues at Aldeasa grew by 14.7% to €830.2m ($1.22bn), contributing €415.1m ($610m) to Autogrill’s total revenues.

UK-based Alpha Airports Group, which was acquired by Autogrill in June, should contribute £399.5m ($790.8m) to the group’s revenues for the period between June and December 2007. Consolidated EBITDA in 2007 is expected to be about €560m ($823m) compared with €514.1m ($755.6m) in 2006.

A statement from Autogrill said: “In 2007 Autogrill secured new contracts and contract extensions worth about €4bn ($5.87bn) in accumulated sales over the duration of the concessions. These operations, all in the airport channel, enable the group to consolidate its network in North America and expand its presence in Europe, the Middle East and Asia.”