A 2020 to forget for Autogrill
Revenues down by 60%, turnover down by 59.8%
Preliminary data for 2020 published.
Autogrill announced the preliminary results for 2020, a year that closed with revenues of € 1.98 billion, down by 60.3% compared to the 5 billion obtained in the previous year, due to the continuing effects of the Covid-19 pandemic; at constant exchange rates, turnover would have fallen by 59.8%, while the organic contraction was 59.3%. For the 2020 financial year Autogrill expects a drop-through (amount of the change in revenues which translates into a positive or negative change in Ebitda) at the Ebitda level in line with the performance of the first half of 2020, equal to 24%.
At the end of the 2020 financial year, cash and credit lines available for approximately € 0.6 billion were recorded, in line with forecasts. The group reported that in the course of the year analyzed new contracts were won and renewals were obtained for approximately € 5.3 billion, with an average duration of approximately 6 years. With regard to Italy, revenues for the 2020 commercial year amounted to 324 million, against the 692.4 million recorded in the fiscal year 2019, for an overall decrease of 52%.
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