MILAN, Oct 11 (Reuters) - Italian caterer Autogrill expects consolidated core profit of about 600 million euros this year, it said on Sunday, with exchange rates impacting previously given forecasts.
The manager of highway and airport restaurants from Canada to New Zealand said consolidated revenues would be around 5.7 billion euros -- this includes a negative exchange rate effect on the U.S. dollar of more than 100 million euros compared to figures given in March.
Autogrill has forecast two scenarios -- one which assumes traffic will be negative through 2009 and the other sees traffic recovering in the second half.
"Net of this (foreign exchange) impact, the group's revenues would have been in between the two scenarios outlined, confirming the recovery signals indicated in the second quarter of the year," Autogrill said in a statement.
Sunday's forecasts, given following preliminary data on summer traffic in Autogrill's main markets, were at an average exchange rate of euro/U.S. dollar of 1:1.40 and euro/sterling of 1:0.90.
The company, which also has airport duty free shops, said the "positive dynamic" of raw material costs had in part boosted core profit or earnings before interest, tax, depreciation and amortisation (EBITDA)
Autogrill has previously forecast 2009 EBITDA between 575 million euros and 625 million euros.
Sales were seen in between 5.72 billion and 5.9 billion euros. Those forecasts were given at average exchange rate of euro/U.S. dollar of 1:1.30 and euro/sterling of 1:0.90.
Autogrill said the EBITDA margin would increase to 10.5 percent. Autogrill said it was looking to close the year with net debt below 2 billion euros.
Net debt at June 30 was 2.089 billion euros.
($1=.6782 Euro)