reports
DUFRY - 2Q16 RESULTS
The group has published its 2Q16 results, which disappointed in terms of organic sales. Dufry remains impacted by the material depreciation of several emerging currencies (especially RUB and BRL) which limits the purchasing power of emerging market customers, given that most transactions are made in USD, EUR and GBP. Against these adverse macroeconomic developments, the group continues its refurbishment program, opening new capacities (retail space increased by 4% in 1H16) and other commercial i...
DUFRY - FY15 RESULTS
​DUFRY is the world’s largest global travel retailer, specialized in airport retail (24% market share). It recently acquired its competitor World Duty Free - WDF (consolidated since August 2015), based on an EV of CHF 3.8bn (15x 2014 EBITDA). The group has published its 4Q15 results, which showed broadly similar trends as the past quarter. In 2015, Dufry was hit by the volatility of the emerging economies (half of Dufry’s sales) and the material depreciation of several currencies, namely t...
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