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

Textiles | On 25th Jul 2016

Cotton prices unlikely to fall in near future

Notwithstanding the Union Ministry of Textile’s direction to the...

Textiles | On 25th Jul 2016

China imposes anti-dumping duties on acrylic fibres

China’s ministry of commerce (MOFCOM) has announced imposition of...

Courtesy: Industrial Parks Development Corporation, Ethiopia and Ethiopian News Agency

Apparel/Garments | On 25th Jul 2016

30k workforce to be trained for Hawassa Industrial Park

An agreement has been signed to source, recruit and train 30,000...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search