The following is a summary of the Avolta AG (DUFRY) Q4 2023 Earnings Call Transcript:
Financial Performance:
Avolta reported a strong organic growth with a turnover of CHF12.5 billion.
EBITDA was robust at CHF1.129 billion or 9%.
Core profit to equity holders more than doubled compared to the previous year, reaching CHF308 million.
An equity-free cash flow of CHF323 million was achieved and net debt decreased by CHF140 million.
Financial results showed CHF201 million and CHF159 million for income taxes.
Despite pandemic impacts, CapEx increased to 3.5% of turnover from 2.8% in 2022.
Net debt decreased to a record low since 2015, down from CHF4.8 billion at the end of 2022 to 2.6%.
Business Progress:
Avolta integrated with Autogrill and is now present in more than 73 countries with over 5000 points of sale, placing it uniquely within its industry.
They achieved cost synergies from the merger a year ahead of schedule, saving CHF85 million in restructuring costs.
With a renewal rate of more than 95%, business progress included the successful renewal of high-profile contracts.
The strategy aims for customer focus, geographic diversification, strategic growth, improved operations, cost discipline, and creating sustainable shareholder value.
Anticipate increased profitability in Spain by the third year.
The company plans to adapt to ever-changing consumer behavior by introducing hybrid concepts and making changes on a product level for increased productivity and cost efficiency.
More details: AVOLTA AG UNSP ADR EA REPR 0.10 ORD SHS CHF5.00 IR
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