Autogrill's Board of Directors approved a more than positive half-year report this morning. The company's net profit jumped by 66,3% compared to the same period last year, passing from 23,5 to 39 million euros. The other figures in the financial statements were also positive: consolidated revenues were 2.655,8 million, up 2,8% compared to 2.582,2 million in mid-2010 (+4,2% at constant exchange rates). Ebitda increased by 1,7%, rising to 250,8 million against 246,7 last year (+3,6% at constant exchange rates). Another increase, albeit slight, on the investment front Investments (from 83 to 83,9 million). On the other hand, net financial indebtedness decreased from 1.575,5 to 1.551,8 million.
The company explains that the growth in recent months is linked “to the increase in air traffic compared to the 2010 reference period. Autogrill achieved an 8,5% increase in sales (+8,8% at constant exchange rates) in the Travel Retail & Duty Free, entirely concentrated in the airports”. On the other hand, "the data on the motorways is less good, due to the stagnant traffic also due to the high price of fuel at the pump". In Italy "revenues grew by 4,2% in the half-year, while in the January-April period the change on a like-for-like basis would have been -1,2%, linked to the decline in light traffic5 which has a greater impact on sales potential" .
In the wake of this positive six-monthly, the Autogrill stock is in green on Piazza Affari. At around 13pm, gains at 3,83%.
