ITALY. Italian company Gruppo Save delivered a strong performance in 2011, ahead of the uneven economic trend. The Venetian company, listed on the Italian Stock Exchange market, reported turnover growth of +2.9% to €347.2 million for the year ended 31 December 2011, while EBIT was €46.2 million (+13.3%), EBITDA €73.6 million (+10.2%) and profit before taxes €48.0 million (+14.3%). Net profit increased +42.7% to €41.9 million (2010: €29.3).
Of the group’s three business units, Airport Management was the best performer with an increase of +7.1% to €126,6 million, due to the increase of aeronautical revenue (+8.7%) – primarily driven by the increase in passengers (+7.1%), with 9.7 million travellers using the Venice Airport System (Venice and Treviso) – and increase in non-aviation activities (+5.6%), led by parking (+9.1%) and commercial activities (+6.7%).
The group’s Food & Beverage and Retail revenues are up by +0.7% to €200.5 million, driven by an increase in the airport channel (+€7.8 million), with 18 new openings, traffic growth and better sales performance in Italy, Prague and Austria. This growth was offset by the expiring of some motorway channel concessions and the exit from the oil business (-€5.8 million).
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