Autogrill: 2020 financial statements approved
Revenues down by 59.8% at constant exchange rates compared to 2019
The shareholders' meeting of Autogrill SpA, which met under the chairmanship of Paolo Zannoni, examined and approved the 2020 financial statements, which show a net loss of € 38,287,850, and also approved the proposal of the board of directors of carry forward the loss for the year. The shareholders' meeting also appointed the board of statutory auditors that will be in office for the years 2021-2023. The board of statutory auditors is composed as follows: Francesca Michela Maurelli, as chairman, Antonella Carù and Massimo Catullo as standing auditors, Michaela Castelli and Roberto Miccú , as alternate auditors.
Autogrill closed 2020 with consolidated revenues of € 1,983.7m, down 59.8% at constant exchange rates compared to 2019, mainly due to the effects of the Covid-19 pandemic. Consolidated EBITDA was € 159.5m and the underlying EBIDTA was € 155.3m, with a decrease of 81.5% at constant exchange rates compared to the previous year and a drop through of 23% compared to a reduction in revenues equal to 60% year on year. The consolidated underlying net result was - € 485.7m (€ 85.0m in 2019). The net result was - € 479.9m (€ 205.2m in 2019). Liquidity amounted to approximately € 0.6 billion at 31 December 2020. During the year, new contracts won and renewals were recorded for approximately € 5.3 billion, with an average duration of approximately 6 years. The most important renovations include those relating to the airports of Las Vegas and Amsterdam.
The shareholders' meeting approved the plan for the free assignment of Autogrill ordinary shares, called the "2021 Performance Share Units Plan", reserved for employees and / or executive directors of the company and of the companies it controls directly or indirectly, aimed at incentivising and the loyalty of the employees and executive directors of the company and its subsidiaries who occupy the most important positions with a view to creating value for the Group and aligning it with the interests of the shareholders. Each beneficiary, identified by the company's board of directors, will be assigned, free of charge and personally, a number of Units which, where and to the extent matured, will confer on their holders the right to assign ordinary shares of the company according to the terms indicated in the explanatory report of the board of directors and in the related information document made available to the public and available on the company's website.
EFA News - European Food Agency