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Italy's Autogrill Sees €3.7bn In Sales This Year

By Dave Simpson

Italy's Autogrill AGL.MI, which is exploring a potential tie-up with Swiss duty-free retailer Dufry DUFN.S, expects sales to reach €3.7 billion this year, up from €2.6 billion in 2021.

Details

The group controlled by the Benetton family said the full-year guidance was based on the assumption that there would not be a resurgence in COVID-19 and that the conflict in Ukraine would not escalate in the coming months.

In April Autogrill said it was having talks with industry peers and reviewing its options after media reports on a potential tie-up with Dufry.

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Last month the group said that this year it would focus on strengthening its leadership position, increasing the cash flow and becoming more sustainable. It did not give an update on a possible partnership.

Like-For-Like Sales And Operating Loss

Between January and April the group, which runs restaurants and bars on motorways and airports around the world, reported a 88% rise in like-for-like sales on the back of a positive trend in domestic traffic in North America and Italy.

It posted an operating loss of €34 million, marking an improvement compared with a €103 million operating loss in the same period last year.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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