UK markets closed
  • NIKKEI 225

    26,393.04
    -411.56 (-1.54%)
     
  • HANG SENG

    21,859.79
    -137.10 (-0.62%)
     
  • CRUDE OIL

    107.48
    -2.30 (-2.10%)
     
  • GOLD FUTURES

    1,812.00
    -5.50 (-0.30%)
     
  • DOW

    30,936.11
    -93.20 (-0.30%)
     
  • BTC-GBP

    15,716.00
    -798.26 (-4.83%)
     
  • CMC Crypto 200

    410.66
    -20.81 (-4.82%)
     
  • ^IXIC

    11,134.77
    -43.13 (-0.39%)
     
  • ^FTAS

    3,940.90
    -78.63 (-1.96%)
     

Italy's Autogrill sees $4 billion in sales this year

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: An Autogrill point is seen along the Grande Raccordo Anulare (Great Ring Junction) motorway in Rome
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

MILAN (Reuters) -Italy's Autogrill, which is exploring a potential tie-up with Swiss duty-free retailer Dufry, expects sales to reach 3.7 billion euros ($4 billion) this year, up from 2.6 billion euros in 2021.

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.

On Thursday the group said 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.

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 euros, marking an improvement compared with a 103 million euro operating loss in the same period last year.

($1 = 0.9339 euros)

(Reporting by Francesca Landini, editing by David Evans)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting