05/11/2019
Dufry posts strong third quarter results leading to solid performance in the nine months of 2019
In the first nine months of 2019, Dufry's turnover reached CHF 6,682.0 million. Organic growth continued to accelerate in the summer months reaching 4.1% for the third quarter and 2.9% in the nine months. The positive trend was supported by an ongoing improvement in the like-for-like performance and continuing in the first weeks of October. Gross Profit margin expanded by 40 base points to 60.3% in the period. Adjusted Operating Cash Flow was CHF 805.3 million and Equity Free Cash Flow came in at CHF 406.6 million. Dufry confirms the average Equity Free Cash Flow target of CHF 350-400 million and the medium term organic growth target of 3% to 4%. Dufry will move to quarterly trading statements as of financial year 2020.