Autogrill sees EUR7bn revenues from Spain duty free shops

Italy's Autogrill stated (11-Dec-2012) it expects revenues of over EUR7 billion in Spain over the 2013-2020 period after subsidiary World Duty Free Group was awarded duty free concessions at 80 stores in 26 Spanish airports, including key hubs such as Madrid. Autogrill said AENA will receive EUR1.96 billion out of the projected earnings of Autogrill and its subsidiaries over the 2013-2020 contracts. The grants awarded will have a term of seven years which may be extended for a further three with the agreement of AENA. Revenues projected over the concession period will increase through a 35% increase in retail space from 33,000sqm to 45,000sqm. In 2012, the total assets under management in 21 airports renewed expected record revenues of approximately EUR520 million. [more - original PR - Italian]