Media

09/03/2021

Dufry concludes challenging year 2020 with strong liquidity, full cash flow control and strategic initiatives to drive recovery and growth

FY 2020 turnover of CHF 2,561.1 million and organic growth^[1] of -69.8% year-on-year, with encouraging re-initiation of travel upon easing of restrictions FY 2020 savings of CHF 1,312.1 million, significantly over-achieving the communicated target of CHF 1 billion Decisive actions resulted in lower than targeted cash consumption in H2 2020 of CHF -45.7 million vs expected CHF 60 million monthly average Successful execution of various financial initiatives in FY 2020 including share placement, convertible bond, bank loans and rights issue with CHF 1,992.9 million gross proceeds Strong liquidity position of CHF 1,905.7 million as of end-2020, providing sufficient liquidity for driving re-openings and growth acceleration Sustainable, recurring fixed cost savings of CHF 400 million expected (excluding rent reliefs) FY 2021 Equity Free Cash Flow break-even expected at -40% turnover level vs FY 2019 Group reorganization and restructuring implemented, with Hudson reintegration and delisting successfully executed As per end-February, almost 55% of stores open, representing 60% of sales capacity, including successful partnership-opening of strategically important duty-free operation in Hainan ESG strategy revised and set of new initiatives implemented

02/03/2021

Dufry Wins New Duty-Free and Duty-Paid Concession Contracts at Sangster International Airport in Montego Bay, Jamaica

11/02/2021

Invitation to Dufry's Full Year Results 2020 on March 9, 2021

Dufry is pleased to invite you to our Full Year Results (FYR) 2020 Conference Call on March 9, 2021 at 14.30h CET.

02/02/2021

Dufry and Hainan Development Holdings open first shop at Haikou's Mova Mall in Hainan (China)

The first shop of the collaboration between Dufry and Hainan Development Holdings (HDH) opened on January 31, 2021 at the Mova Mall in the city-center of Hainan's capital Haikou in China, right on time for the Chinese Spring festival, which is an important travel, holiday and shopping period.

05/01/2021

Dufry and Hainan Development Holdings cooperate to develop duty-free opportunities in Hainan (China)

Dufry AG and Hainan Development Holdings (HDH), a fully state-owned company of the Hainan Provincial Government, have signed a strategic cooperation agreement to develop opportunities in Hainan's travel retail market. Dufry, in addition to the supply of global brands, will share its global experience in travel retail with HDH.

01/12/2020

Dufry AG successfully completes merger with Hudson Ltd

On December 1, 2020, Dufry successfully closed the previously announced merger with its subsidiary Hudson Ltd (“Hudson”). The closing of the transaction follows a special general meeting of Hudson's shareholders held on November 30, 2020, where Hudson's shareholders voted to approve and adopt the merger, by 98.59% of the votes cast at the meeting.

18/11/2020

Dufry successfully extends concession contract at the St. Petersburg Pulkovo Airport for seven years

Dufry has successfully extended for another seven years its duty-free concession contract at Pulkovo Airport in St. Petersburg covering a total retail space of over 3,100 m². St. Petersburg is the most visited tourist city in Russia and Pulkovo airport and welcomes 19.6 million passengers per year, representing an attractive mix of domestic and international travelers.

05/11/2020

Dufry Opens its New Brand Paradise ANECDOTE at The Circle, Zurich Airport

Dufry opened today its new brand paradise ANECDOTE located at the Circle at Zurich Airport, with an offering ranging from global top brands to local premium labels at very attractive prices.

03/11/2020

Continued gradual improvements in Third Quarter 2020, with Dufry successfully implementing strategic initiatives and increased efficiencies

Turnover reached CHF 2,073.9 million with organic growth^[1] -67.8% during the nine months of 2020, and CHF 487.0 million with organic growth -79.7%for Q3 2020 Further costs savings^[2] in Q3 2020 reaching a total CHF 760 million in the nine months 2020 yoy, in line to reach the total savings target of around CHF 1 billion for full-year 2020 New organization implemented; Hudson reintegration and Group restructuring to be finalized in Q4 2020, generating recurring cost savings of at least CHF 400 million Successful execution of rights issue, with Advent International and Alibaba Group taking a stake in Dufry, generating total gross proceeds of CHF 890 million to be used to finance Hudson buy-out and for strategic growth opportunities Dufry and Alibaba Group in process of setting up strategic joint-venture for travel retail in China and digital transformation by the end of 2020 Confirmation of cash flow scenarios for H2 2020, with cash consumption of CHF 51 million in Q3 2020 and liquidity position of CHF 2,065 million as of end September pro-forma (including net proceeds from capital increase and cash outflow from Hudson Transaction)

29/10/2020

Historical Information on New Organizational Setup

Following the reorganization announced in June 2020, Dufry started to report under a new organizational setup as of September 1, 2020. Headquarters and divisions were integrated and countries have been grouped to better align the organization to the new business environment, to increase efficiencies and simplify the decision-making processes. In line with operational management, Dufry reports the new regional setup from Q3 2020 onwards.

29/10/2020

Changes in Dufry's Global Executive Committee

Jose Antonio Gea stepping down as Deputy Group CEO and member of the Global Executive Committee (GEC) Salvatore Aricò appointed to the Global Executive Committee as Chief Organization & Transformation Officer