Food & Beverage

Change
(€m)                    
2008 2007 at current
exchange rate
at constant
exchange rate
Revenue 3,924.6 3,877.6 1.2% 4.7%
EBITDA 465.5 494.2 (5.8%) (2.4%)
EBITDA margin
11.9% 12.7%
Capex 278.6 255.9 8.9% 6.1%

HMSHost (North America and Pacific Region2)

 

To eliminate interference from fluctuations in the euro/dollar exchange rate and make it easier to interpret performance, figures are reported in millions of US dollars ($m).

($m) 2008 2007 Change Change net
of costs
of reorganisation
Revenue 2,773.2 2,651.7 4.6% 4.6%
Airports 2,222.7 2,109.2 5.4% 5.4%
Motorways        
451 .8 464.6 (2.8%) (2.8%)
Malls 98.7 77.8 26.8% 26.8%
EBITDA 339.2 349.6 (3.0%) (0.8%)
% on revenue 12.2% 13.20%
Capex 196 167.5 17.1% 17.1%
% on revenue 7.1% 6.3%

Italy

(€m) 2008 2007 Change Change net
of costs
of reorganisation
Revenue 1,319.9 1,270.7 3.9% 3.9%
Motorways 1,039.5 1,023.2 1 .6% 1.6%
Airports 77.9 68.3 14.1% 14.1%
Railway stations
and shipboard
catering
36.5 19.9 83.4% 83.4%
Others 166.0 159.3 4.2% 4.2%
EBITDA 173.5 176.0 (1.4%) (0.5%)
% on revenue 13.1% 13.9%
Capex 85.1 90.2 (5.7%) (5.7%)
% on revenue 6.4% 7.1%

Other Countries 3

Change
(€m) 2008 2007 4 at current 
exch. rates
at constant
exch. rates
Revenue 719.4 672.7 6.9% 6.8%
Motorways 423.2 417 1 .5% 1 .1%
Airports 168.4 141 .9 18.7% 20.2%
Railway stations 
86.4 76.2 13.4% 12.9%
Other 41 .4 37.7 9.9% 7.9%
EBITDA 61.3 63.2 (3.0%) (3.2%)
% on revenue 8.5% 9.4%
Capex 52.6 51.9 1.3% 1.4%
% on revenue 7.3% 7.7%

1 Most of the supplementary information consists of: -for 2007: the months from January through May of Alpha Group Plc., consolidated since 1 June 2007; full-year figures for World Duty Free Europe Ltd., acquired in 2008; full consolidation of Aldeasa for the entire year -for 2008: the months from January through April of World Duty Free Europe Ltd., consolidated from 1 May 2008; full consolidation of the first quarter of Aldeasa, which came under exclusive control on 1 April 2008
2 North American operations are headed up by Autogrill Overseas Inc., with headquarters in Bethesda, Maryland. Under the trade name HMSHost, in addition to the North American business it also manages food & beverage services at Amsterdam's Schiphol Airport (grossing $128.6m in 2008, or 4.6% of sales by HMSHost), and at other airports in Asia and Australasia (total 2008 revenue of $26.4m)
3 France, Switzerland, Spain, Belgium, the Netherlands, Luxembourg, Austria, Slovenia, Czech Republic, Germany, Sweden, Greece, Denmark, Ireland and the UK
4 Figures for 2007 have been adjusted with respect those originally published to include the food & beverage operations of Alpha Group Plc., consolidated from 1 June 2007. Specifically, revenue have been adjusted by €15.6m, EBITDA by €2.1m and capex by €1 .1m