Media

11/09/2020

Extraordinary General Meeting of Dufry AG on October 6, 2020

10/09/2020

Dufry plans rights offering to raise gross proceeds of approximately CHF 500 million, and has secured a CHF 415 million equity investment commitment from Advent International

Dufry AG ("Dufry") will hold an Extraordinary General Meeting ("EGM") on October 6, 2020, to approve an ordinary capital increase for a rights offering targeting gross proceeds of approximately CHF 500 million. The envisaged proceeds are planned to be used to finance the previously announced acquisition of all remaining equity interest in Hudson Ltd. and for general corporate purposes. In this context, Dufry has already secured a CHF 415 million equity investment commitment from funds managed by Advent International Corporation or its affiliates ("Advent International") to purchase shares at CHF 28.50 per share.

19/08/2020

Dufry plans to acquire all remaining equity interest in Hudson and to delist Hudson from the New York Stock Exchange

Dufry AG (SIX: DUFN) (“Dufry”) and Hudson Ltd. (NYSE: HUD) (“Hudson”) announced today that they have entered into a definitive agreement pursuant to which Dufry would acquire all the equity interests in Hudson it does not already own for USD 7.70 in cash per Hudson Class A share (the “Transaction”). Upon completion of the Transaction Hudson will be delisted from the New York Stock Exchange.The delisting of Hudson is part of Dufry's current re-organization and is intended to further simplify its corporate structure and align its operations to the new business environment. Dufry expects to realize annual cost savings of at least CHF 20 million, thereby further supporting its comprehensive set of already announced cost saving measures, and to improve cash flows going forward.Dufry intends to finance the proposed Transaction through an equity capital increase by way of a rights issue upon approval of Dufry's shareholders at an extraordinary general meeting. The Transaction has been fully underwritten by a bank consortium.The Transaction has been unanimously approved and recommended by the Board of Directors of Dufry and a special committee of independent directors of Hudson, as well as the Board of Directors of Hudson.

03/08/2020

HY 2020 impacted by Covid-19, Dufry accelerates re-opening and drives business re-organization

Turnover reached CHF 1,586.9million impacted by the Covid-19 pandemic, equal to -60.6% year-on-year organic growth, with resilient gross profit margin at 58.0%, adjusted operating cash flow of CHF -103.5 million, and equity free cash flow of CHF -749.1 million Comprehensive action plan implemented including fix cost savings of CHF 469.7 million in first half 2020, targeted fix cost savings of around CHF 1 billion for full-year 2020, and strengthened financial structure with CHF 1,583.7 million pro-forma liquidity position as of June 30, 2020[1] Having aligned the organization to different full-year 2020 turnover scenarios, with an expected average monthly cash flow in second half 2020 of ~CHF +60 million in a -40% scenario, ~CHF +10 million in a -55% scenario, and ~CHF -60 million in a -70% scenario Current re-organization initiatives to reduce complexity and simplify decision-making, thus driving the company's profitability and preparing growth acceleration Passenger flows gradually returning since mid-June, resulting in -82.3% organic growth in July 2020 compared to same month of previous year Limited visibility on mid-term recovery trajectory, with industry forecasts of returning to 2019 levels from 2022 onwards

22/07/2020

Invitation to Dufry's Half-Year Results 2020 Conference and Management Call on August 03, 2020 in Zurich, CH

24/06/2020

Dufry to implement a global restructuring program

Dufry, in line with the initiatives to reduce expenses and to adapt the company to the new business environment, has decided to implement a restructuring program to mitigate the consequences of the Covid-19 pandemic. The program aims at reducing personnel expenses by 20% to 35% reflecting the different scenarios of potential sales declines between 40% to 70%, which the company had already presented in its Q1 Trading Update on May 12, 2020. The reduction in personnel expenses includes early retirements, hold-backs of seasonal staff employment, contributions from government support schemes as well as the reduction of positions across all organizational levels and geographies. Due to consultation procedures in several countries, it is currently not possible to provide details on the number and locations of the positions concerned. The company plans to implement these measures between June and October 2020.

09/06/2020

Dufry's new Global Executive Committee structure, effective September 1, 2020, integrates HQ and divisions, while simplifying top management functions

Dufry is adapting its organization to the new business environment to accelerate growth and support profitability during the recovery phase of the economic crisis and beyond. The new organizational structure, which will become effective as of September 1, 2020, aims at further strengthening the airport travel retail business and other channels, thus driving the company's profitability and preparing growth acceleration.

18/05/2020

Results of Ordinary General Meeting of Dufry AG on May 18, 2020

The Ordinary General Meeting of Dufry AG was held at the offices of Dufry AG at Brunngässlein 12, 4052 Basel, Switzerland, on May 18, 2020 at 14.00 hrs. The meeting was held in compliance with the provisions issued by the Swiss Federal Council on measures to combat the Coronavirus (COVID-19), validly convened and constituted, and shareholders duly registered in the share register of the Company representing 26,423,071 shares and 48% of the total share capital of Dufry AG were represented at the meeting.

12/05/2020

Dufry's Q1 2020 Trading Update

Dufry's turnover reached CHF 1,438.7 million in the first quarter of 2020 equal to - 20.8% in constant FX versus the same period last year. Performance during the first three months of 2020 was significantly impacted by an unprecedented reduction in passengers flows in airports, cruise lines and touristic destinations around the world due to the spread of the Covid-19 crises. In the first quarter 2020, organic growth amounted to -21.4%.

04/05/2020

Ordinary General Meeting of Dufry AG on May 18, 2020 – Change in the Proposed Board Member

The Dufry Board of Directors proposes Mary J. Steele Guilfoile to be elected to the Board of Directors succeeding Andrés Holzer Neumann, who will not stand for re-election at the upcoming Ordinary General Meeting.

29/04/2020

Conference Call on Dufry's First Quarter 2020 Trading Update on May 12, 2020

Dufry will publish its First Quarter Trading Update on May 12, 2020, and there will be a conference call held by Dufry at 14.00h CEST that day.