During the third quarter of the year, Autogrill reported net income up to €90,1 million (+4% y/y) and revenues up to €1,759 billion (+5,5%), supported above all by the good performance in the USA and UK which offset the decline in Europe.
In particular, explains a note, it is the growth of the Travel Retail sector continued, with sales up 4,6%, while Food & Beverage suffered a decline of 2,4%. The positive performance of the airport channel (+1%) also offset the negative performance of the motorways (-5,7%), mainly caused by France, the Netherlands and Belgium.
Ebit stood at 163,6 million (+3,7%), while Ebitda improved by 3,4% y/y to 240,9 million, with the Ebitda margin down to 13,7% from the previous 14%. Investments in the period, during which cash flow was generated for 225,6 million, then increased to 54 million (41,7 million in third quarter 2011).
For the first nine months, net profit dropped to 102 million (125,7 million), Ebitda fell to 458,3 million (483,9 million) and Ebit contracted by 17,6% to 230,6 million. As at 30 September, net borrowing then fell to 1,427 billion, from the previous 1,553 billion as at 31 December 2011.
As for the next few months, Autogrill confirms its forecast for 2012 of consolidated revenues of around 6,1 billion. The actions implemented by the group will finally allow to close the year with an Ebitda between 585 and 590 million (the previous forecast was around 600 million).
