The main risks to which the Autogrill Group is exposed

Here below are the key risks common to the business segments resulting from the direct interaction with travelers along with the relevant specific risks. Financial risk exposure is outlined in the Notes to the Group’s consolidated financial statements to which reference should be made.

Risks common to the business segments
Risks common to the business segments


Food & Beverage specific risks
Food & Beverage specific risks


Travel Retail & Duty-Free specific risks
Travel Retail & Duty-Free specific risks

The Autogrill Group is exposed to external risks and uncertainties deriving from external factors associated with the general or specific macroeconomic context of the sectors of activity in which the Group operates, as well as risks deriving from strategic choices and internal management risks.

The macroeconomic scenario remains the key risk in the current year. Any eventual worsening of the economic and financial situation in the euro countries might have negative impacts on both segments. Among the specific risks for the Group’s activity segments, the oil price trend may have direct repercussions on fuel prices and indirect ones in terms of increased tariffs or fewer flights. These effects could also have repercussions on traffic flows, particularly tourist flows, and on the mix of passengers by destination.

On the opportunity side, concerted actions in relation to financial policies and growth supporting policies could favor a comeback in consumption in Europe. With regard to the more specific opportunities for the Group’s business segment s we can mention a heavier and more generalized reduction in the price of food raw materials, an additional increase in tourist flows to Spain (also as a result of the persistent political and social instability in other alternative tourist destinations), and the persistent growth in the Latin American regions.