Net financial income/expense of Italian catering company Autogrill in 2013-2019
This statistic shows the net financial income/expense of the Italian food and beverage catering company Autogrill Group from 2013 to 2018. Autogrill is the world’s largest provider of food & beverage services for travelers and is the recognized leader of the North American and Italian markets. The Group manages a portfolio of some 300 brands, both international and local. In 2018, the net expense amounted to a negative value of 29.1 million euros.
In 2019, the net expense (-99 million euros) was calculated following the IFRS 16. IFRS 16 is an International Financial Reporting Standard (IFRS) introduced by the International Accounting Standards Boards (IASB) and effective for annual reports beginning from January 1, 2019 onwards. As result of the IFRS 16 application, Autogrill Group explained that in 2019 it did not recognize the fixed portion of leases and concessions as operating expense (386.7 million euros), but recognized depreciation for the leased right of use assets (356.3 million euros), other operating expense (0.1 million euros) and implicit interest on the leased right of use assets in financial expense (72.1 million euros). If excluding IFRS 16, the net expense amounted to a negative value of 26.9 million euros in 2019.
In 2019, the net expense (-99 million euros) was calculated following the IFRS 16. IFRS 16 is an International Financial Reporting Standard (IFRS) introduced by the International Accounting Standards Boards (IASB) and effective for annual reports beginning from January 1, 2019 onwards. As result of the IFRS 16 application, Autogrill Group explained that in 2019 it did not recognize the fixed portion of leases and concessions as operating expense (386.7 million euros), but recognized depreciation for the leased right of use assets (356.3 million euros), other operating expense (0.1 million euros) and implicit interest on the leased right of use assets in financial expense (72.1 million euros). If excluding IFRS 16, the net expense amounted to a negative value of 26.9 million euros in 2019.
