INTERNATIONAL. Autogrill has reported a rise in consolidated revenues of +6.4% to almost €5 billion (US$5.49 million) for the year to 31 December 2019, driven by a strong airport performance. At current exchange rates the increase was +3.5%. Like-for-like revenue growth was +3.1%.
The Italy-headquartered global travel food & beverage company estimates underlying EBITDA for the year, excluding accounting standard IFRS16, to be between €458 million (US$503.1 million) and €463 million (US$508.6 million).
In airports, revenue grew by +12.3% (+8.1% at constant exchange rates), with all regions contributing. Like-for-like revenue growth was +4.6%, mainly driven by North America.
According to the preliminary results, a positive like-for-like performance in the Middle East and East Asia was partially offset by a softer trend in Northern Europe and in the Netherlands.
Europe saw an improved performance at airports and in Italian motorways in the second half of the year.
The results come on the back of new contract wins and renewals worth €2.8 billion in 2019.
The year saw the renewal of major contracts in Salt Lake City International, Nashville International, Indianapolis International, Calgary International and Zürich airports. Additional contracts were won at locations in which Autogrill already has a presence via its HMSHost business, including Orlando International, Dallas Fort Worth International, Philadelphia International and Seattle-Tacoma International airports.
The new territories in which Autogrill won contracts during 2019 include Langkawi in Malaysia, Mumbai in India, and Myrtle Beach in the US.
The average contract length of the new wins and renewals is approximately seven years, with newly-won contracts contributing about €1 billion (US$1.1 billion) and renewals about €1.8 billion (US$1.98 million).
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The company also organises the annual Airport Food & Beverage (FAB) Conference & Awards. FAB 2020 will be held in Istanbul on 23 and 24 June. Istanbul Airport will host the event, which will be a celebration not only of the best in international airport dining but also of Turkish cuisine and culture. FAB 2020 will be supported strongly by Tum & Ictur, the concessionaire managing 34,000sq m of food & beverage space at Istanbul Airport.