Dufry sales more than double on travel rebound, Autogrill acquisition (updated)
10/05/2023 06:29
(Adds details on Autogrill, nut graph, regional info)
May 10 (Reuters) - Swiss duty-free retailer Dufry
DUFN.S on Wednesday reported a 113.4% jump in its
first-quarter turnover, beating market estimates, aided by its
acquisition of Italian motorway caterer Autogrill and growing
global travel demand.
The retailer, which operates more than 2,300 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., since
pandemic-related lockdowns were lifted around the world.
The company, which runs shops at airports, on cruise liners,
in seaports, and other tourist locations worldwide, posted a
turnover of 2.35 billion Swiss francs ($2.64 billion) for the
first quarter, up from 1.12 billion Swiss francs a year earlier.
Dufry launched a mandatory takeover offer for all shares of
Autogrill AGL.MI in February after closing the deal to buy a
50.3% majority stake from Edizione. It last week extended the
tender period until May 18.
Turnover in the Asia-Pacific region jumped 276.9% in the
first quarter, boosted by the easing of restrictions in China.
($1 = 0.8889 Swiss francs)
(Reporting by Ozan Ergenay and Anastasiia Kozlova; Editing by
Kim Coghill)
((Ozan.Ergenay@thomsonreuters.com;
((anastasiia.kozlova@thomsonreuters.com))