SPAIN. Ãreas, the Spain-based provider of catering, retail and integrated services for travellers, has reported a +9% increase in profits in fiscal year (FY) 2010, from €11.1 million in 08/09 to €12.1 million in 09/10.
During the same period EBITDA grew by +16% to more than €50 million, with a slight increase (+0.6%) in revenue to €624 million.
Ãreas attributed the positive results to both the optimisation of the company’s internal organisation and the implementation of a new sales strategy.
This strategy is focused on creating a new brand portfolio, consisting of consolidated proprietary brands (La Pausa, Medas, Caffriccio, Divers and others) alongside nationally and internationally renowned franchised brands (Starbucks, Il Caffè di Roma, Subway, Burger King, Adidas and Adolfo Domínguez).
These new retail options are complemented by what Ãreas described as innovative concepts in the passenger traffic environment, such as yogurt stores developed with the help of Danone, or working with Michelin-starred chefs on food menus at airports.
“This new line of business is an optimal way of adapting to the growing requirements of concession grantors, such as AENA and Abertis, and to sophisticated customers who translate their expectations to the travel environment, where our retail options are able to adapt to their multiple profiles and backgrounds,” said Ãreas President Pedro Fontana.
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Ãreas recorded a +9% increase in profits to €12.1 million in fiscal year 2010 |
The company maintained its investment level of €40 million over the last fiscal year. It expects to increase investment significantly in 2010/11 to €70 million, of which €22 million will be in Spain, doubling investment nationally.
2010 saw the company consolidate its position in Spain, its largest market, with 70% of total turnover. Ãreas is the largest store operator at Malaga airport, and the main F&B provider in Alicante, Santiago, Asturias and La Palma airports.
The addition of nine new stores in Terminals 1, 2 and 3 of Madrid Barajas Airport has bolstered the company’s presence in the Spanish capital, one of the country’s main passenger traffic hubs.
International
Thirty percent of Ãreas’ revenue (€189 million) comes from its operations outside Spain. In the US, the company’s latest concessions will represent revenues of $200 million by 2015, Ãreas said.
In the Americas Ãreas recently opened 12 stores at Newark, Washington, Miami and Boston airports. In Mexico, the company has positioned itself as the main operator in Monterrey airport.
Airports account for half of the company’s total revenue, followed by motorway services, which represent 34%.
By category sector, food services accounted for 65% of revenues for Ãreas in fiscal 2010, followed by retail distribution (26%).
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President Pedro Fontana (left) and Executive VP Jose Gabriel Martin have overseen a profitable year for Ãreas |
About Ãreas
Ãreas operates in airports (483 stores), freeways, highways and roads (439), train stations and other environments such as exhibition centres, malls and downtown areas (338).
The group is present in nine countries, with 641 stores in Spain and 619 outside Spain (271 in Mexico, 18 in Argentina, 98 in Chile, 56 in Portugal, 30 in Morocco, 20 in the Dominican Republic, 14 in St. Martin and 112 in the US). The company’s US business has achieved the largest growth rate outside Ãreas’ Spanish home market .
Ãreas has 1,260 stores worldwide and employs 11,924 people.
