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Autogrill believes passenger traffic slowly starting to recover

17-Nov-2009 12:01 PM

Autogrill CFO, Alberto De Vecchi stated the company believes passenger traffic is starting to slowly recover, but does not believe a full recovery is close (Trend, 16-Oct-2009). Mr De Vecchi added the company has seen an improvement in sales since the end of 3Q2009, with Oct-2009 year-to-date sales down 5.3% year-on-year. The company expects an EBITDA of EUR600 million for 2009.

Autogrill: "We think that the improvement in traffic is there, so we will capture part of this improvement. How much is also something that we are questioning, because these days we are preparing the budgets. So of course it is very important for us to assess if the trend will reinforce in the next month or not," Alberto De Vecchi, CFO. Source: Trend, 16-Oct-2009.