EBIT

EBIT, at €331.7m (€339.1m in 2007; -2.2% at actual exchange rates or +2.3% at constant rates), reflects higher depreciation in connection with the investment programme launched after the growth of the contract portfolio in 2006-2007. It also includes €20.5m in amortisation of the goodwill recognised for the acquisitions of Aldeasa and World Duty Free Europe Ltd. In the fourth quarter, EBIT came to €53.8m, up from €40.1m in the previous year (+34.4% or +23.5% at constant exchange rates).