Dufry registers double digit turnover growth in Q1
26 Dec '07
3 min read
In the 9 months of 2007, Dufry generated EBITDA (before other operational result) of CHF 178.9 million compared to CHF 110.1 million in 2006. The EBITDA margin improved to 12.6% from to 10.8% last year. Apart from the improvement of the Gross Profit Margin, EBITDA margin was further strengthened through decreasing operational cost if measured in proportion to Turnover.
In terms of Business Development, Dufry renewed the existing contract in Milan airports from 2020 until at least 2041. The renewal of the contract reflects the strong partnership Dufry has with SEA and provides long-term development potential in a key airport for Dufry. Also, Dufry continues to work on its pipeline of projects and to screen the market for potential acquisition targets that will contribute in the generation of further profitable growth.
Julian Diaz, CEO of Dufry Group, commented: “We are very happy with these results and with the renewal of the Milan Airports. The figures as well as the renewal demonstrate that we have created value through continued operational improvements. We are fully on track with our growth strategy, and have delivered on it for the fourth year in a row.
Furthermore, for the second consecutive year, we generated as much sales and EBITDA in the first 9 months as in the previous 12 months and we believe that the fundamentals of our business model will allow us to continue with our strategy of profitable growth.”
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