Dufry annual turnover jumps as international travel rebounds (updated)

Autogrill SpA

07/03/2023 06:07

(Adds dividend and context)
       March 7 (Reuters) - Swiss duty-free retailer Dufry
 DUFN.S  on Tuesday reported 76.1% organic turnover growth,
supported by recovering travel volumes as global pandemic
restrictions were lifted.
    The company, which runs shops at airports, on cruise liners,
in seaports, and other tourist locations worldwide, posted
turnover of 6.88 billion Swiss francs ($7.40 billion) for 2022,
up from 3.92 billion francs a year earlier. However, it was
still 22% below the pre-pandemic 2019 level of 8.8 billion
francs.
    The retailer, which operates more than 2,200 shops at
airports, on cruise liners, in seaports, and other tourist
locations worldwide, has been benefiting from a strong rebound
in global travel, particularly in Europe and the U.S., after
restrictions imposed to tackle the COVID-19 pandemic were
lifted.
    Following in its 2021 footsteps, Dufry's management decided
against proposing a dividend for the 2022 financial year, saying
this would enable them to focus on strengthening the company’s
financial position and on closing the business combination with
Autogrill.
        The group, which operates in 75 countries, also
confirmed its medium-term outlook for 2023-2027.
($1 = 0.9297 Swiss francs)

 (Reporting by Anna Mackenzie and Tristan Chabba in Gdansk;
Editing by Friederike Heine and Milla Nissi)
 ((anna.mackenzie@thomsonreuters.com;))