INTERNATIONAL. Autogrill has approved the preliminary consolidated results for 2018 that it reported in February. Consolidated revenue was €4,695.3 million, a year-on-year increase of +2.2% at current exchange rates, and 5% at constant exchange rates.
Autogrill Group CEO Gianmario Tondato Da Ruos commented: “In 2017 and 2018 we worked hard to strengthen our business footprint and improve efficiency.
“In 2019 we have started harvesting the benefits of the work done and we will deliver on our three-year plan, whose pillars are top line growth, structural efficiencies and profitability enhancement, as well as making bolt-on acquisitions in core geographies and rationalising non-core activities.”
[Autogrill was reported to have submitted a bid for Areas, the airport catering, railways and motorway arm of French group Elior, earlier this year.]
Like-for-like growth of 3.5% was confirmed by Autogrill. It was largely driven by a strong performance from the airports division, which saw 3.1% revenue growth at current exchange rates (7.2% constant), to €2,742.2 million. Like-for-like revenue growth in the division was +5.6%.
New openings in North America (at Fort Lauderdale, Charlotte, Baltimore and Newark airports), in Northern Europe (at Oslo and Stavanger airports in Norway), and Asia (at Cam Ranh and Da Nang airports in Vietnam and New Delhi airport in India) also contributed to the robust 2018 performance.
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The company also organises the annual Airport Food & Beverage (FAB) Conference & Awards. Last year’s FAB took place on 20-21 June in Helsinki. FAB 2019 will be held at Dallas Fort Worth International Airport on 26-27 June.