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Autogrill 2013 Annual Reports
Present in 30 countries with a workforce of about 55,000, it manages more than 4,500 points of sale in over 1,000 locations
Chairman’s letter
Our ambition is to look to the future respecting all cultures, and generating a constant stream of new formulas to add value.
Dear Shareholders,
We achieved important objectives of various kinds in 2013, the foremost regarding the main strategic event of the year: the proportional partial demerger of Autogrill S.p.A. in favour of WDF S.p.A. The demerger enabled us to offer the stock market two distinct investment opportunities, both leaders in their sectors, Travel Retail and Food & Beverage.

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CEO’s letter
In the near future our points of sale will be rolling out commercial formats widely different in design, types of products and service.
Dear Stakeholders,
As a result of the demerger we are now totally focussed on the Food & Beverage business and have defined our growth strategy along three lines: renewal of the offering, expansion into new geographies and repositioning of business channels.
With respect to the renewal of the offering, we are concentrating on the design of new commercial concepts and the stipulation of agreements with the brands that are most innovative and in line with the increasingly diversified needs of our customers.

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General business context
Airports

In 2013 passenger traffic at worldwide airports grew by 3.9%, thanks especially to a 5.2% increase
in the international component. In 2013, passengers in North America numbered 1.2 billion, an increase of 1.3% on the previous year. In Europe there were around 1.3 billion passengers, an increase of 2.6% on the previous year, thanks to the solid growth in international traffic (+3.6%5). Asia, with about 1.1 billion passengers, had a traffic growth with an increase of 7.2%. Revenue generated by the air transport sector amounted to $ 566 billion for the year.

Motorways

In Italy, traffic decreased by a total of 1.7%, with heavy traffic showing the performance -2.3% due to the ongoing economic difficulties. Light traffic declined by 1.5%. In the United States, traffic showed a relatively minor decrease (-0.2%) with respect to the previous year.

Highlights
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3,984.8 €m
Revenue
672.7 €m
Net financial
position
314 €m
EBITDA
margin 7.9%
162.6 €m
Net investment
88.3 €m
EBIT
Revenue by geographical area
18.9%
Other European
countries
29.0%
Italy
52.1%
North America
and Pacific Area
Revenue by segment
4%
Railways
5%
Other
41%
Motorways
50%
Airports