Autogrill closed the first half of 2018 with a loss of 3,4 million euros against the profit of six million it had recorded in the same period of the previous year. Revenues grew by 5,2% to 2,1 billion euro, compared to 2,2 calculated in trend terms.
Ebitda amounted to 126,9 million in the first half of 2018, compared to 144,3 in the first half of the previous year, equal to 6% of revenues which were worth 6,8% in the first half of 2017.
At June 30, 2018, financial debt amounted to 735,5 million compared to 544 million at December 31, 2017.
In the first half of 2018, Autogrill won approximately 1 billion contracts and completed 0,6 billion renewals, equal to a total of approximately 1,6 billion with an average duration of 7,6 years, signing new contracts in New Jersey at Newark Airport; in Spain in Barcelona and Gran Canaria; in the Middle East in Dubai and in Asia in Vietnam.
Autogrill is currently engaged in a series of projects which pursue the objective of making the operating model more efficient, therefore the half-year results reflect the costs incurred. The company announces that the benefits will be visible starting from the second half of the year.
"In 2017 we started an important transformation process which included the reorganization of the Italian business", explains the managing director Giamario Tondato Da Ruos who clarifies that "in 2018 we are working on a series of construction sites aimed at making our operating model even more efficient. The first half of 2018 proved to be particularly challenging, but thanks to the initiatives we have undertaken, we are confident that we have all the necessary elements to achieve our 2019 objectives".
In Piazza Affari, the stock grew by +3,77% almost at the end of the session.
