Home / Knowledge / News / Apparel/Garments / Dufry Q1 turnover grows 9% to CHF 775mn
Dufry Q1 turnover grows 9% to CHF 775mn
06
May '14
Dufry’s reports results for the first quarter 2014. Dufry’s turnover grew by 9.0% in constant FX rates and reached CHF 775.0 million in the first quarter of 2014. EBITDA reached CHF 89.1 million and EBITDA margin was 11.5% in the quarter. Cash flow before working capital grew by 15.6% and reached CHF 93.6 million. 
 
Dufry posted another solid set of results as turnover in constant FX rates continued to grow by 9.0% in the quarter as a combination of organic growth and the acquisitions of Hellenic Dufry Free. During the first quarter of 2014 EBITDA reached CHF 89.1 million and EBITDA margin stood at 11.5%. 
 
The first quarter is the lowest quarter in terms of seasonality, and there was also a calendar effect from Easter, which in 2013 took place in the first quarter and this year moved to the second quarter. Organic growth was also impacted by currency volatility of selected nationalities, like Brazilians and Russians. The appreciation of the Swiss Franc versus the US Dollar resulted in a translational effect of minus 3.8% in the first quarter. 
 
Turnover 
In the first quarter of 2014 Dufry’s turnover grew by 9.0% in constant FX rates, of which 6.8% was the contribution consolidation of the Hellenic Duty Free acquisition. Organic growth was 2.2%, to which like-for-like growth contributed 0.7% and new concessions, net, added 1.5% as the result of openings of 4.3% versus closings of 2.8%. 
 
Reported turnover in Swiss Francs reached CHF 775.0 million from CHF 736.4 million in the first quarter of 2014, a growth of 5.2%, after a -3.8% translational impact, driven by the appreciation of the Swiss Franc in the period. 
 
Turnover in Region EMEA & Asia grew by 31.4% in the first quarter of 2014 and reached CHF 239.8 million from CHF 182.5 million in the previous year. Besides the consolidation of the business acquired in Greece in April 2013, other operations in the region performed solidly as well. 
 
In Europe, France and Spain had strong growth. Africa showed positive performance as Morocco and Ivory Coast had double digits sales growth and helped mitigate the lower results in Egypt. 
 
In Eastern Europe, Serbia and Armenia performed well, while operations in Russia were impacted by the depreciation of the Russian Rouble and the political situation in the Ukraine. In Middle East and Asia, growth was strong as a combination of like-for-like in the existing operations especially in China and Cambodia as well the effect of the first openings in Asia.
 
Click here to view full results.
 

Dufry


Must ReadView All

Apparel/Garments | On 26th May 2016

PM expects Parliament to pass GST bill this year

Prime Minister Narendra Modi expects Parliament to pass the...

Apparel/Garments | On 26th May 2016

Bangladesh garment exports up 10% in July-April

Continuing the steady growth witnessed over the past few months,...

Textiles | On 26th May 2016

Spun yarn production growth in FY16 slowest in 4 years

India’s cotton yarn production grew by 2 per cent to 4,136 million kg ...

Interviews View All

Abhishek Ganguly
Puma India

There are quite a number of brands stepping into the sports lifestyle...

Evelyne Cholet
UCMTF

Which regions are the largest importers of French textile machines? What...

Binoy Ravjani
Hero's Fashion

What are the latest trends in hand block printing?

Ashok Desai
Bombay Textile Research Association

<b><i>Bombay Textile Research Association (BTRA) is a leading name in...

Marten Alkhagen
Swerea IVF AB

<b><i>Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles...

Urs Stalder
Sanitized AG

<b><i>Urs Stalder, CEO, Sanitized AG, talks about the increasing use of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search