Development initiatives

Capital expenditure

Capex in 2010 amounted to € 224.9m, up from € 150.3m the previous year. The growth reflects greater investments in Italy and the United States, for new openings and renovations, especially in the motorway channel. See Section 1.4 for a more detailed description of investment by each operating segment.

(€m) 2010 2009
Development/
renovation
Maintenance ICT & other Total Development/
renovation
Maintenance ICT & other Total
Food & Beverage 151.4 27.8 12.6 191.8 92.1 23.0 6.4 121.5
Travel Retail &
Duty-Free
26.8 0.1 1.0 28.0 20.3 0.1 1.5 21.8
Corporate and
unallocated
5.2 5.2 7.0 7.0
Total 178.3 27.9 18.8 224.9 112.4 23.1 14.8 150.3
% on total 79.2% 12.4% 8.4% 100.0% 74.8% 15.3% 9.8% 100.0%

New contracts

In 2010 Autogrill renewed expiring contracts and won new ones of significant size and strategic merit.

Specific achievements in the Food & Beverage segment were as follows:

  • increased presence on Italian motorways under a new agreement with Esso Italiana, which has put Autogrill in charge of about 80 service stations;
  • build-up in North America, in the motorway channel (with a 50-year extension of the contract on two major Canadian highways) and the airport channel (new contracts at San Antonio, San Francisco, Sacramento and Miami and renewals at Anchorage and Toronto);
  • in Switzerland, an extension of the contract for F&B operations at Zurich airport until 2018.

In the Travel Retail & Duty–Free segment, the Group:

  • had its Spanish airport concessions extended until 2012 (with the exception of Madrid, where its contract was not due to expire);
  • strengthened its profile in the United Kingdom, with an extension through 2021 of the contracts at Birmingham and Manchester airports.