On November 16, 2012, Dufry signed an agreement with Guarulhos International Airport in Sao Paulo to renew its duty free retail contracts at that airport until 2016. Dufry currently operates 8 duty free shops at the airport with a total area of 4,500 sqm of retail space. The agreement also foresees that Dufry will enlarge its retail space by 2,100 sqm. The new operations are expected to start in the second quarter next year. The expansion of the commercial area will be located at the arrival and departure area of Terminal 2, adding almost 50% more retail space to Dufry’s activities at this airport. The expanded retail space will allow Dufry to further enhance its comprehensive range of products, and offer its clients international best selling brands and a unique shopping experience.

Guarulhos International Airport is located in Sao Paulo and is the largest airport in Brazil. In 2011, the airport welcomed a total of 31 million passengers, of which 11.4 million were international passengers, an increase of 9.4% on compared to 2010. The airport, which has been privatized earlier this year, is operated by a consortium led by INVEPAR. Guarulhos International Airport is undergoing a substantial expansion program in order to satisfy the expected increase in international traffic brought by expected passenger growth and important events, such as the World Cup in 2014 and the Olympic Games in 2016.

Julian Diaz, CEO of Dufry Group, commented: “We are very pleased about this new agreement with Guarulhos International Airport. The renewal allows us to further develop the business at Sao Paulo airport and with the new space we will be able to generate additional revenues very quickly. The renewal of our duty free contracts it is a great platform to build on the future cooperation with Guarulhos International Airport and we are excited to develop the new space together with the airport’s team. The contract also secures and reinforces our position in Brazil and illustrates the quality of our operations, where we have developed a strong organization with deep knowledge of the Brazilian consumer.

Taking a broader view, we are privileged to have the opportunity to play an important role in the build-out of the Brazilian infrastructure. The country enters an era of significant investments in infrastructure to support and promote accelerated economic growth. In this context, we are confident that our experience and knowledge of the travel retail market enables us to work closely with Guarulhos Airport reaching its full potential, offering an even better shopping experience to its passengers and we are confident that this agreement is the beginning of a long-standing partnership.”

Antonio Miguel Marques, CEO of Guarulhos Airport, also commented: “We initiated a process that will allow Brazilians to have access to one of the best duty free shopping services worldwide.”