Dufry’s turnover more than doubles as sales inch towards 2019 levels

An obligation free store belonging the the Dufry group in a departure lounge at Denpassar worldwide airport in Bali March 23, 2017. REUTERS/Thomas White/File Picture

Aug 9 (Reuters) – Swiss duty-free retailer Dufry (DUFN.S) mentioned on Tuesday it noticed robust gross sales momentum proceed in July regardless of the hovering inflation, after its turnover greater than doubled within the first six months of the 12 months.

The corporate, which operates greater than 2,300 outlets at airports, on cruise liners, in seaports, and different vacationer places worldwide, has been benefiting from a powerful rebound in journey traits, notably in Europe and the USA, after restrictions imposed to sort out the pandemic had been lifted.

The Basel-based group posted a 146% rise in turnover to 2.92 billion Swiss francs ($3.06 billion) within the January to June interval, similar to 75.5% of the pre-pandemic 2019 ranges in fixed foreign money.

Chief Government Officer Xavier Rossinyol, who took over the function from June 1, mentioned the robust momentum had continued into July, when it reached round 90% of 2019 turnover ranges.

“Areas like North America, Central America and the Caribbean, in addition to a few of the Southern European and Mediterranean international locations carry out in line or above 2019,” Rossinyol mentioned.

He added, nonetheless, that the corporate would maintain monitoring client sentiment and travel-related spending in mild of the present geopolitical and well being state of affairs.

Dufry additionally launched a brand new key efficiency metric, core earnings earlier than pursuits, taxes, depreciation and amortisation – or core EBITDA – which reached 227 million francs and a 7.8% margin within the six months to June 30.

The Swiss agency added the mix with Italian airport and motorway caterer Autogrill (AGL.MI), introduced in July, was advancing as deliberate. learn extra

The intention of the deal is to create a journey trade big to benefit from development alternatives because the sector rebounds.

The Italian group final month reported a 78% rise in first-half like-for-like gross sales and nudged up its outlook for 2022, as passengers resumed touring particularly in North America.

($1 = 0.9546 Swiss francs)

Reporting by Tristan Chabba and Jagoda Darlak in Gdansk; enhancing by Milla Nissi

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