Retail

Retail sales accounted for 41.2% of total Non Aviation business revenue. The most significant retail revenues come from sales to public (50.2% of the total), followed by food and beverage (20.6%), car rental (16.4%) and banking services (10.8%).

Type of Retail revenues

Retail outlets located in passenger terminals offer both duty-free products (i.e. exempt from VAT and excise duty) and duty-paid products (i.e. under ordinary purchase arrangements and excluding the benefit of the aforesaid exemption).
Retail sales activity carried out at our airports offer the public and passengers a wide range of products and brands aimed at different types of users and entail a significant characterization of commercial offerings of each terminal:

• Malpensa Terminal 1 dedicated to luxury and duty-free shopping;
• Malpensa Terminal 2 dedicated to low-cost;
• Linate dedicated to high-end offerings specialised in business customers.

Shopping areas of Milan airports - Shops + food & beverage (m²)

Source:SEA

Retail areas of Milan airports per million passengers (m²/passengers)

We do not directly carry out retail activities (duty-free and duty-paid sales to the public, catering, car rental, management of spaces for third parties to carry out banking activities), but we provide third parties with the use of commercial spaces in Milan airports.

Areas intended for sales to the public (m²)

Source: SEA

In terms of commercial strategy, 2015 was marked by the completion of the first phase of Malpensa Terminal 1 renovation.
In April, new safety filters area was inaugurated at check-in level, from which passengers can directly access the heart of shopping gallery at boarding level.
Commercial offerings are organised on thematic “squares”, based on the positioning of the brands. On the way to non-Schengen flights gate, we first reach “Piazza del Lusso” for luxury items, then “Piazza del Gusto” for food and beverage, while on the way to Schengen gates we find “Piazza del Pop”, which mainly hosts fast fashion brands. All shopping areas are now accessible to all types of passenger regardless of their destination.
The average sales receipt per passenger at Terminal 1 increased by 16.7%, from 26.24 to 30.62 Euro.

Malpensa T1 - Average sales receipt per passenger in sales to the public (Euro)

Source: SEA

At Terminal 2, the average sales receipt per passenger rose by 8.5%, from 11.73 to 12.73 Euro compared to last year.
In 2015, Terminal 2 saw the opening of new shops, including Parfois, a Portuguese fast fashion and accessories brand, and Piquadro in December. The latter opening, which will be followed in the first months of 2016 by the opening of Calze Gallo, represents a qualification of offerings that takes into account evolution of the customer profile on terminal, which now counts about one in three passengers flying for business reasons.

Malpensa T2 - Average sales receipt per passenger in sales to the public (Euro)

Source: SEA

A slight increase of 1.4% in the average sales receipt per passenger is recorded at Linate, from 18.79 to 19.05 Euro. At Linate’s boarding area we note the opening by Venchi, with its integrated formula of praline and ice cream, which was met with great pleasure by passengers.

Linate - Average sales receipt per passenger in sales to the public (Euro)

Source: SEA

Catering activities are entrusted by SEA in sub-concession to SEA Services, a subsidiary company, and to other third parties. In particular, contracts with specialised operators (including Autogrill, Chef Express and MyChef) are in force, according to which SEA has entrusted to them catering activities in sub-concession, thereby granting to these operators some spaces within airports.

Areas intended for food & beverage (m²)

Note: Vip lounges and outdoor areas not included.

Source: SEA

Malpensa Terminal 1 recorded a positive performance due to the expansion of its offerings and the quality of its formats. An example is “The Italian market & kitchen” and the recent addition of a new coffee shop at checkin floor, both created by My Chef Elior. The success of Juice Bar formula, specialising in health food and already tested by Chef Express at Terminal 2, has led to the decision to a similar restyling of food areas at Terminal 1 arrivals area. The average passenger sales receipt in 2015 increased by 17.9%, from 6.59 to 7.77 Euro.

Malpensa T1 - Average sales receipt per passenger in food & beverage segment (Euro)

Source: SEA

At Terminal 2 the average passenger sales receipt decreased by 8.3%, which goes from 5.88 to 5.39 Euro.

Malpensa T2 - Average sales receipt per passenger in food & beverage segment (Euro)

Source: SEA

Linate reconfirms the positive performance of the existing formats, in particular Bagel Factory and “Panino Giusto”. The strategy to increasingly adapt the offerings to market trends is confirmed by the year-end opening of a “Ferrari Spazio Bollicine”, a wine bar concept created by My Chef in partnership with Ferrari Lunelli. The average passenger sales receipt in 2015 increased by 9.9%, from 5.28 to 5.77 Euro.

Linate - Average sales receipt per passenger in food & beverage segment (Euro)

Source: SEA