TOP 10 OPERATORS 2018 1: DUFRY ®
“The good results and new developments during the first six months of 2018 are positive signs that we are moving in the right direction to meet the priorities we have set for the year.”
Julián Díaz, Dufry Group
the first half of 2018 was +1.7% predominantly due to the strengthening of the Euro and the British Pound against the Swiss Franc. In Q2 more specifically, the weakening of the Swiss Franc against other major currencies resulted in a positive FX effect (+3.5%) and at current rates the translational impact is forecast to be positive to year-end. In a conference call presenting the results in more
detail, Díaz, paid reference to strong global international passenger traffic forecasts of +7.2% for 2018 [Source: Air4casts/ Dufry HY results]. He stated: “The first half year results were solid and in
line with Dufry’s expected targets for 2018. I am particularly pleased with the EBITDA and cash generation for the period, a record for the first semester due to our good operational performance. “Regarding profitability, the Business Operational
Model further contributed by generating efficiencies and improvements in the cost structure, positively impacting the EBITDA margin. Until June, the BOM has been launched in 39 countries in total, of which 14 countries were already certified by the programme.
Expansion in Australia and cruise channel “We continued to actively foster the opening of additional retail space and refurbishments across the group. “In this context, I would like to highlight the several
successful wins of new contracts seen in the first semester, which include new retail operations across different channels – train stations, cruise lines, downtown locations and airports – and covering all divisions. “The most recent one being our footprint expansion in
Australia with the new concession in Perth; while earlier this year we signed contracts for a total of 10 cruise vessels of Holland America, Carnival Cruise Line and Norwegian Cruise Line as well as the duty free concession for the new high- speed railway station in Hong Kong. “The good results and new developments during the first
six months of 2018 are positive signs that we are moving in the right direction to meet the priorities we have set for the year. We will keep our focus on the main drivers through the BOM implementation, the further development of our digital initiatives and expansion of our presence in the travel retail industry.” The Dufry CEO concluded that he expects market
conditions to ‘remain positive’ moving into the second half of the year due to healthy growth in passenger numbers. Weaknesses in certain markets are forecast to persist, but
he says the group expects to compensate for this via good performances across its operational portfolio. «
OCTOBER 2018
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