Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on AUTOGRILL SPA. We currently have 3 research reports from 1 professional analysts.
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Airport contracts support the growth of the group
02 Aug 16
Autogrill published H1 16 results in line with its guidance: Sales grew 4.6% to €2,057m supported by 2.4% lfl growth and a 3% net gain on contracts; EBIT increased by 13.8% at constant FX and excluding the €14.9m capital gain of the French railways business disposal to Elior in June; Net profit rose to €16.8m (vs €-15.6m in H1 15 and €25m in FY15).
Some light at the end of the Italian motorway tunnel
23 Nov 15
Autogrill showed strong Q3 15 results, in line with consensus but beating our forecasts. The group benefited from the strength of the US dollar against the euro, the robust airport traffic in the US and an early pick-up in traffic on Italian motorways. On a 9-month basis, sales were 10.6% up reported vs 1.1% at constant exchange rate (CER). In Q3, group revenues came in 11.6% higher than last year (+3.5% at CER), confirming the positive trend seen in Q2 (+10.2%). Airports remained the growth driver (sales +19.6%, +6.3% at CER) boosted by US airports, followed by the motorway channel (+5.8% reported, +1.9% at CER) backed by the strong motorway traffic in North America and the early signs of recovery in Italian motorways. Railway stations were weaker (+3.7% reported, -5.3% at CER), attributable to a challenging French market (scaling down of the perimeter). EBITDA outpaced sales growth, showing a 15.2% rise (+6.5% at CER) with the EBITDA margin improving from 13.3% to 13.8%, resulting from cost reductions and higher sales. Net profit was 17.5% up (+11.5% at CER). The FY15 guidance issued in May was reiterated (sales €4.3-4.4bn, EBITDA €370-380m).
Lfl performance improves in line with macro; momentum likely on Q3 expectations
19 Aug 15
Displaying similar trends as Q1, reported Q2 revenue (+10.2%) continued to benefit from a stronger dollar, revenue at constant FX was down 0.5%. The decline in the Italian motorway channel (due to the exit from unprofitable contracts) and transfer of four of the last US retail contracts to World Duty Free pulled down an otherwise improving organic growth of 0.6% (Q1: -0.1%). Encouraging trends were reported for the first 30 weeks as organic growth progressed to 1.8% (+12.5% at current FX), thanks to a good July which benefited from an acceleration in US airports as well as favourable weather conditions and a pick-up in traffic in Italy.
A multi-branded, leading fashion eCommerce business, set for at least 50% growth yet again
26 Apr 17
A year of upgrades has been topped by yet another sales and earnings beat. Full year sales of £295m are up 51%, with growth accelerating across all regions in H2. This impressive top line performance converted to a 90% increase in EBITDA to £35.6m and a 97% increase in PBT to £30.9m, driven by overhead efficiencies as the group grows. The complementary acquisitions of PrettyLittleThing and the Nasty Gal brand transform the business into a multi-branded proposition. This, alongside investment in range extension and impressive international expansion, underpins our expectations for continued strong growth of at least 50% top line throughout 2017. Active customers have risen 29% to 5.2m, with solid improvement continuing across all KPIs. Despite significant capital investment, totalling £30.7m in the year, boohoo’s balance sheet remains robust with net cash of £58.4m at the year end. We upgrade our FY18 expectations by c.12% and continue to see potential for significant profitable growth going forwards.
N+1 Singer - Morning Song 25-04-2017
25 Apr 17
Carpetright (CPR LN) Tougher conditions leaves forecasts towards lower end of range | Centaur Media (CAU LN) Bigger steps | Elementis (ELM LN) Positive update confirms strengthening of demand | Rathbone Brothers (RAT LN) Facing the challenge to deliver growth | Vp (VP/ LN) Another niche Hire Station deal prompts 3% EPS upgrades
N+1 Singer - Morning Song 24-04-2017
24 Apr 17
First Derivatives (FDP LN) FY slightly ahead as strong trading momentum continues | Goals Soccer Centres (GOAL LN) A potentially exciting corporate development | mporium Group (MPM LN) 2016 results: course set for exciting 2017 | Vectura Group (VEC LN) VR315 risk outweighs longer-term potential
Small Cap Breakfast
24 Apr 17
Global Ports Holding—Intention to float on Standard List of the Main Market. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected on AIM 3 May. RTO of Escape Hunt raising £14m at 135p. Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1 update. Admission expected 25 April on AIM raising £122m. ADES International Holding— Intends to join the Standard List of the Main Market in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May on specialist funds segment of Main Market to enable investors to complete further due diligence.