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Autogrill shares jump after FY sales, raised 2021 guidance -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: An Autogrill Point is seen in Rome on March 8th, 2016, along the Grande Raccordo Anulare, Great Ring Junction motorway. REUTERS/Max Rossi/File photo

MILAN, (Reuters) – Revenues from Italian caterer Autogrill grew by about 31%, at the current exchange rates for 2021. The performance in North America, Italy and North America drove shares higher than 7%.

The Benetton family controlled the company, which released a statement Tuesday stating that preliminary revenues for the full year were 2.6 billion euro ($2.95 trillion), an increase of 32.8% at constant currency rates.

Autogrill confirmed 2024 target and raised 2021 core profit margin guidance to approximately -0.5%, from an earlier range of -2.5%e-1.5%. The underlying net loss, however, is now at 110m euros, compared with a range between 170 million and 150 million.

Shares are up 6.6% by 1125 GMT. They outperform Milan’s All-Share Index, which is rising 1.7%. It has been on track to be the best day since Oct.

($1 = 0.8809 euros)

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