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Autogrill Q1 falls to 4.1 mln euros net loss

Mon May 12, 2008 10:36am EDT
 
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MILAN, May 12 (Reuters) - Italy's Autogrill (AGL.MI: Quote, Profile, Research, Stock Buzz) had a net loss of 4.1 million euros ($6.34 million) in the first quarter, compared to net profit of 9.8 million euros last year, the company said on Monday.

The motorway and airport restaurant operator said in a statement the loss was due to an increase in amortisation and greater use of debt, as in used acquisitions last year.

It said sales rose 21.5 percent to 1.09 billion euros.

It said it expects core profit -- or earnings before interest, tax, depreciation and amortisation (EBITDA) -- of around 630 million euros this year.

It foresees consolidated sales of about 5.9 billion euros, including its acquisitions of airport retail business World Duty Free and the remaining 50 percent of joint venture Aldeasa, which it bought this year.

 

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