In a business plan for 2015 through 2017 unveiled on Thursday, the world's second-largest travel retailer sought to convince investors it can put its house in order before it sets out to attract industry partners.

"The plan makes the company stronger ... we want to play a part in sector consolidation," the Italy-based company's Chief Executive Eugenio Andrades said in a presentation to investors.

The plan is intended to help WDF find a new industrial partner to replace Italy's Benetton family as a controlling shareholder, sources told Reuters last month.

WDF makes 44 percent of its revenue from operations in Britain, on the back of heavy traffic through London's Heathrow and Gatwick airports. It hopes to improve its operations at other sites by integrating various divisions and cutting costs.

One focus will be its Spanish business, where profitability has been hit because of rising rents for its stores at airports and lower-than-expected number of passengers moving through sites, especially Madrid's Barajas.

"It is not a transformational plan, it is rolling out what we have," Andrades said. "Don't expect risky adventures to areas where we are not (present). I don't see major risks."

WDF shares jumped more than 5 percent after the business plan was released, reaching levels last seen in October. They closed up 3 percent at 8.59 euros.

Analysts said the stock trimmed earlier gains after investors noted the company was basing its guidance on adjusted figures and not parameters used previously.

The company said it expects to report adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 335 million euros ($393 million) in 2017, up from 284 million seen for last year.

Net debt is expected to fall to 365 million euros in 2017, from an upwardly revised figure of 950 million for end-2014.

"The plan was what we largely expected, although the top-line targets do seem challenging," a Milan-based analyst said, asking not to be named.

WDF said adjusted EBITDA would be between 279 million euros and 294 million this year.

(Editing by David Holmes)

By Francesca Landini and Elisa Anzolin