Dubai, 23 May 2019 – The Board of Directors of AUTOGRILL MIDDEL EAST MANAGING OFFICE LLC. (Dubai: AGL IM) today reviewed and approved the preliminary consolidated revenue performance for the four months ended 30 April 2019.
Group revenue
- Consolidated revenue of €1,455m in the first four months of 2019, an increase of 5.2% at constant exchange rates[1] (+9.5% at current exchange rates) compared to the same period in 2018 (€1,330m)
- Like for like revenue growth: +2.9%, mostly driven by good performance at airports
- Openings and closings:
- new openings in North America (Dallas Fort Worth, La Guardia, Charlotte and Orlando airports), Europe (Netherlands, Norway), and Asia (Vietnam, India and China)
- closings mainly reflect the ongoing rationalization of the Group’s presence in Europe
- Acquisitions and disposals: net positive contribution from the acquisitions made in 2018 (Le CroBag in Germany and Avila in the US)
- Currency: positive impact of €54m, mainly due to the depreciation of Euro against the US Dollar
- As of 30 April 2019, positive revenue performance driven by North America and International:
- In North America, strong revenue growth at airports
- International was supported by solid airport traffic growth and new openings
In Europe, revenue growth at airports was offset by a softer trend in railway stations and other channels, with stable performance on motorways
Average €/$ FX rates:
- April 2019 YTD: 1.1329
- April 2018 YTD: 1.2288