INTERNATIONAL. Autogrill Group has reported full financial results for 2022, which show a sharp cut in net losses year-on-year, from €105.8 million in 2021 to €28.1 million in 2022. The company noted that the disposal of the US motorways business in 2021 had a negative impact on its revenues of €121.1 million last year.
Preliminary revenues for the year ended 31 December 2022 (as reported last month) have been confirmed, with the figure reaching €4.148 billion, up by +50.2% at constant exchange rates (+59.7 at current exchange rates).
Revenue in FY2022 represents approximately 88% of the number reported in 2019 at constant exchange rates.
The company reported underlying EBIT of €100 million in FY2022 (-€7.0 million in FY2021), which it said was mainly driven by operating leverage, renewed commercial offer and continued focus on pricing management and operational efficiency.
New contract wins and renewals across 2022 totalled about €3.4 billion (the sum of expected sales of each contract for its entire duration, converted to Euros at 2022 current exchange rates), with an average duration of six years.
Reflecting on the results, Autogrill Group CEO Paolo Roverato said: “2022 was a year of transformation, marked by key achievements. First of all, we posted strong results thanks to the resilience of our business model, implemented our renewed ESG strategy and, lastly, the announced industrial combination with Dufry that will create a new global player, leader in food & beverage and retail services for travellers.
“2022 closes a long chapter in which the Group has become the world leader in food & beverage for travellers; a new phase of expansion is now starting, taking the Group to a new dimension and to compete effectively and successfully in the global market, with a renewed focus on the generation of sustainable value.”
Earlier this week we reported the comments of Dufry CEO Xavier Rossinyol from an earnings call in which he discussed year-end results and the Dufry/Autogrill combination. Access the article here. 
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