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Dufry’s 2017 results boosted by retail expansion in North and Latin America

In 2017, Dufry achieved a strong set of results. The company recorded a turnover growth of 7.0% in 2017 and reached CHF 8,377.4 million from CHF 7,829.1 million in 2016. Net earnings reached CHF 110.9 million, 142.1% higher compared to 2016.

South American countries, such as Brazil, Uruguay, Chile and Peru performed (...)

South American countries, such as Brazil, Uruguay, Chile and Peru performed well.

During the year, the company secured future business by further increasing its retail space, extending important concessions and winning new contracts. The expansion of the gross retail space in 2017 amounted to 30,000 m2, with North and Latin America accounting for the largest part, followed by Asia, Middle East and Australia and then Southern Europe and Africa. Moreover, Dufry has already 15,500 m2 of signed space to be opened in 2018 and 2019.

According to the company, the synergies from the World Duty Free acquisition were fully reflected for the first time in the 2017 results, amounting to CHF 125 million. “This is an important achievement, as the total synergies considerably exceeded the original estimates of CHF 105 million,Dufry claims.

Dufry has already 15,500 m2 of signed space to be opened in 2018 and (...)

Dufry has already 15,500 m2 of signed space to be opened in 2018 and 2019.

Turnover in Latin America went to CHF 1,694.0 million in 2017 versus CHF 1,531.1 million one year earlier. Organic growth in the division was 10.8%. South American countries, such as Brazil, Uruguay, Chile and Peru performed well. The same applies to the Caribbean operations with Dominican Republic being the leader in this area. Dufry Cruise Services also posted strong growth driven by the start of operations on a number of new ships.

The positive market conditions seen throughout 2017 have continued in the first months of 2018 in all divisions with similar organic growth performance as in previous quarters, thus providing a good base for the start into the new reporting year,” said Julián Díaz, CEO of Dufry Group.

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