MILAN, Italy – The Board of Directors of Autogrill S.p.A. has reviewed and approved the preliminary consolidated revenue performance for the twelve months ended 31 December 2022. Preliminary figures as of 31 December 2022 include a revenue of €4,148.3m (€2,596.8m in FY2021), +50.2% at constant exchange rates (+59.7% at current exchange rates).
The performance was mainly driven by the recovery of international airport traffic in all the core geographies of the Group and by the activation of the proper commercial levers to cope with the current inflationary environment.
Revenue in FY 2022 represents approximately 88% of those reported in 2019 at constant exchange rates and excluding the disposals made in the period.
The company reported a positive impact related to the FX effect of €165.1m, mainly due to the depreciation of the Euro against the US Dollar.
Like-for-like performance was up 52.8%. New wins and renewals amounted approximately to €3.4bn4.
Mandatory public exchange offer with alternative cash consideration: Autogrill Board of Directors appoints the advisors
The Board of Directors of Autogrill S.p.A., meeting on February 23, 2023, has appointed Lazard as financial advisor to support the valuations and activities that the Board will have to perform in relation to the mandatory public exchange offer with alternative cash consideration launched on February 3, 2023 by Dufry AG pursuant to Articles 102, paragraph 1 and 106, paragraphs 1-bis and 2-bis of Legislative Decree No. 58 of February 24, 1998 for all of the ordinary shares in di Autogrill (the “Offer”).
The Independent Directors have selected Rothschild & Co. as independent expert to support them for the issuance of the opinion containing their valuations on the Offer and on the fairness of the Offer’s consideration, pursuant to Article 39-bis of the regulation adopted with Consob resolution No. 11971/1999.
