Italy's Autogrill reduces losses in 2021, gives no guidance for 2022
10/03/2022 14:09
MILAN, March 10 (Reuters) - Italy's Autogrill AGL.MI
refrained from giving a guidance on 2022 on Thursday "given the
unfolding geopolitical events" after posting a reduced net loss
of 38 million euros ($42.13 million).
The Italian motorway and airport caterer also said adjusted
free cashflow improved to 117 million euros last year thanks to
cost cutting and a reduction of investments.
Despite its negligible exposure to Russia, Autogrill said it
was "closely monitoring the evolution of the conflict in
Ukraine, and would promptly adapt its business strategy and risk
assessment to evolving circumstances".
Autogrill, that confirmed its expectations to 2024, had
posted a 480 million euros net loss in 2020 as the pandemic
reduced travels by car and by plane.
($1 = 0.9020 euros)
(Reporting by Francesco Zecchini, editing by Maria Pia Quaglia)
((Francesco.Zecchini@thomsonreuters.com;))