Home / Knowledge / News / Apparel/Garments / Dufry Q2 turnover mounts 6.7% to CHF 1,707.9mn
Dufry Q2 turnover mounts 6.7% to CHF 1,707.9mn
31
Jul '14
In the first half of 2014, Dufry’s turnover reached CHF 1,707.9 million and grew by 6.7% in constant FX rates and 2.4% when translated into Swiss Franc. Organic growth accelerated in the second quarter to 5.0% from 2.2% in the first quarter. EBITDA reached CHF 221.4 million for the half year 2014 and EBITDA margin was 13.0% in the period and 14.2% in the second quarter. Cash flow before working capital grew by 9.0% and reached CHF 212.2 million. 
 
During July, Dufry successfully completed the equity increase, bond issuance and bank debt refinancing in relation to the Nuance acquisition, which was announced on 4 June, 
2014. 
 
Accelerating organic growth 
Organic growth accelerated in the second quarter to 5.0% from 2.2% in the first quarter, where the new concessions played an important role as well as improvements in all businesses in Latin America, most notably in the Caribbean, Uruguay and Brazil, with signs of improvement. US & Canada and EMEA & Asia followed the positive trends showed in the Q1. 
 
Key expansion projects completed 
Dufry continued with its expansion projects and opened in the first semester 16,200 sqm of gross retail space. Specifically, Dufry opened 27 new shops in Brazil, of which 17 are located in the new Terminal 3 in Sao Paulo Guarulhos Airport. The shops were opened as scheduled in May 2014, ahead of the World Cup. In Asia, Dufry opened shops in Indonesia, South Korea and Sri Lanka during the first half of 2014. These new projects showcase not only Dufry´s execution capabilities but will also be important for the development of the company in the future.  
 
Nuance financing put in place 
On June 4th, Dufry announced the acquisition of the Nuance Group, a global travel retailer with turnover of CHF 2.1 billion and presence in 19 countries. To finance the acquisition of CHF 1.55 billion, Dufry executed a number of financing transactions in June and July. On 5 June, Dufry issued mandatory convertible notes of a total amount of CHF 275 million. On 7 July, Dufry issued five million new shares and raised approximately CHF 810 million in a successful capital increase, and on 11 July, successfully placed a new EUR 500 million bond with a 4.5% coupon DUFRY AG - Brunngässlein 12 - 4010 Basel - Switzerland 2 and 8 year maturity. Last but not least, the planned refinancing of the bank debt has been completed on 22 July. 
 
All the planned financing instruments have been put in place and Dufry has implemented the long-term funding structure for the transaction.
 
Click here to view full results.
 

Dufry


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Marten Alkhagen
Swerea IVF AB

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X