Strategy

The Group’s strategy is to increase cash generation by boosting sales per passenger and per vehicle, to expand operations in the areas and channels served, to ensure the constant innovation of products and concepts while improving customer service, and to enter new, high-growth markets in terms of demographic and traffic trends.

The factors that best summarize the Group’s performance are cash generation and the size and timing of the concession portfolio.

Both of these factors are optimized by constantly adapting concepts, products and services to the evolving needs of consumers and landlords.

In the Food & Beverage segment, the offer is kept  up-to-date through the development of new concepts and the ongoing review of partner brands, so that the most innovative and profitable brands are always in the Group’s portfolio. In the airport and railway channel, Autogrill plans to consolidate the achievements it has enjoyed up to now while expanding in its current markets and emerging countries. In the motorway channel, efforts will be more selective, given the limited growth potential in developed countries and the extensive investments needed  to penetrate new markets.

In the Travel Retail & Duty-Free business the Group is focusing on ever-new sales techniques, using its own formats for particular categories of product as well as partnerships with some major luxury brands, in order to apply the sales best practices of each category to the airport setting. Commercial results, and the cost synergies achieved or soon to be achieved though the integration of newly acquired businesses, make the Group confident that its profitability gains are permanent and that it can support development in new, high-growth countries.

In both segments, growth is also being pursued through the simplification of organizational charts and business processes and the enhancement of operating efficiency and investments.

Maintaining a well-balanced financial structure  is crucial to the Group’s objectives. Any opportunities for growth by acquisition will  be  carefully assessed in terms of both  business strategy —  whether they complement the areas and channels served — and financial sustainability, and will be pursued in a way that keeps the financial structure consistent with the operations performed and the needs of the Group and its Stakeholders.