Dufry announces strong FY21 results; reports 57 percent organic growth 

Dufry announces strong FY21 results; reports 57 percent organic growth 

THE WHAT? Travel retailer Dufry has reported a strong recovery in FY21, reporting organic growth of 53.2 percent and adjusted operating profit of CHF 374.9 million.

THE DETAILS Adjusted operating profit substantially improved in FY21, reaching CHF 374.9 million, while there was considerable progress on the implementing of its ESG strategy, including the definition of CO2 emission reduction targets for scopes 1-3 in line with SBTi initiative. 

Looking forward, Dufry is re-opening its retail businesses gradually, following single-location productivity scenarios. 

By December 2021 around 1,900 shops globally were open, representing around 88 percent in sales capacity compared to full-year 2019. 

Dufry expects to operate more than 1,970 shops by March end, representing above 90 percent of sales capacity.

THE WHY? The strong performance was attributed to a ‘re-bound of travel, predominantly in the Western hemisphere,’ as well as the resilience of its consumers. 

Julián Díaz, CEO of Dufry Group, commented: “In an environment of gradual recovery for the industry and with travel resuming at different speeds in individual countries and regions, Dufry has continued to flexibly adapt its ways of working to the ever-changing requirements. Supported by the resilient willingness of our customers to travel and their ongoing propensity to visit our stores, our Turnover saw a reassuring acceleration through the course of the year and amounted to CHF 3,915.4 million, equal to an Organic Growth of 53.2% compared to 2020.

“We see encouraging signs for the ongoing recovery of the industry and our business performance as vaccination levels increase, passenger traffic accelerates, and our sales improve – also supported by higher spend-per-passenger compared to before the pandemic. The overall trends to ease cross-country and domestic air travel continued and were gradually extended.”

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