Dufry AG (AVOL) AI Stock Analysis

• Market Cap: CHF6.21B
• Dividend Yield: 1.92%
• Average Volume (3M): 386.05K
• Price to Earnings (P/E): 61.2
• Beta (1Y): 1.21
• Revenue Growth: 7.31%
• EPS Growth: 30.75%
• Country: CH
• Employees: 57,679
• Sector: Consumer Cyclical
• Sector Strength: 56
• Industry: Specialty Retail
• EPS (TTM): 0.62
• Shares Outstanding: 146,509,670
• 10 Day Avg. Volume: 276,217
• 30 Day Avg. Volume: 386,048
• PEG Ratio: -0.54
• Price to Book (P/B): 4.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 2.56
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: CHF46.33
• Price Target Upside: 7.69% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 74 Outperform
• Price Target: ―

Dufry AG's stock score is supported by strong financial performance, particularly in revenue growth and cash flow management. Positive earnings call sentiment, with a focus on strategic growth and shareholder returns, further boosts the score. However, high leverage and a potentially overbought technical position, combined with a high P/E ratio, create risks that moderate the overall assessment.

Dufry AG Business Overview & Revenue Model

Company Description

Dufry AG is a leading global travel retailer headquartered in Basel, Switzerland. The company operates an extensive network of duty-free and duty-paid stores located in airports, seaports, railway stations, and other travel hubs across over 60 countries. Dufry's product offerings include a wide range of categories such as perfumes and cosmetics, food and confectionery, wine and spirits, tobacco, electronics, and fashion accessories. The company's strategic focus is on enhancing the travel experience by providing a comprehensive selection of high-quality products tailored to the needs of international travelers.

How the Company Makes Money

Dufry AG generates revenue primarily through the sale of goods in its retail locations, which are strategically positioned in high-traffic travel environments. The company's key revenue streams include duty-free and duty-paid retail sales, with a significant portion coming from airport stores, which are the largest segment of its operations. Dufry collaborates with airport authorities, landlords, and brand partners to secure retail space and offer a diverse product range. The company also benefits from long-term concession agreements that allow it to operate in prime locations. Additionally, Dufry has expanded its digital capabilities to enhance its omnichannel presence, offering travelers the convenience of pre-ordering products online for pick-up at the store, thus complementing its traditional retail operations. This integrated approach and strategic partnerships with major airports and brands are critical factors contributing to Dufry's earnings.

Dufry AG Financial Statement Overview

Summary

Dufry AG shows strong revenue growth and improving profitability with an 86% increase from 2022 to 2023 and a more modest 7% increase from 2023 to 2024. The gross profit margin is robust at 64.11% for 2024. However, the high debt-to-equity ratio of 5.07 indicates significant leverage, posing a potential risk. Cash flow generation is healthy, supporting ongoing operations and investments, but financial stability could be threatened by leverage in volatile markets.

Income Statement

Dufry AG has shown strong revenue growth, increasing from 2022 to 2023 by approximately 86%, and from 2023 to 2024 by around 7%. The gross profit margin stands at 64.11% for 2024, indicating efficient cost management. The net profit margin improved to 0.75% in 2024, showing a turnaround from previous losses. EBIT and EBITDA margins also reflect positive trends, with EBIT margin at 6.81% and EBITDA margin at 20.72% in 2024. However, historical net income volatility poses a risk.

Balance Sheet

The debt-to-equity ratio is high at 5.07, highlighting significant leverage, which could pose risks if not managed well. Return on equity improved to 4.39% in 2024, demonstrating better profitability. The equity ratio of 13.50% suggests moderate financial stability, but the company remains highly leveraged, which could impact its ability to withstand financial downturns.

Cash Flow

Dufry AG's free cash flow has consistently grown, showing a 10.66% increase from 2023 to 2024. The operating cash flow to net income ratio is strong at 25.29, indicating efficient cash generation relative to net income. The free cash flow to net income ratio also shows a robust figure of 20.60, reflecting solid cash flow management. These metrics suggest a healthy cash flow position, supporting ongoing operations and investments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	13.43B	13.72B	12.79B	6.88B	3.92B	2.56B
Gross Profit	4.12B	8.80B	3.92B	4.19B	2.21B	1.38B
EBITDA	2.58B	2.84B	2.47B	1.62B	1.13B	-807.80M
Net Income	126.40M	103.00M	87.30M	58.20M	-385.40M	-2.51B
Balance Sheet
Total Assets	17.59B	17.40B	16.51B	9.31B	9.99B	11.26B
Cash, Cash Equivalents and Short-Term Investments	973.40M	756.00M	769.50M	854.70M	793.50M	360.30M
Total Debt	12.11B	11.91B	11.19B	6.58B	7.45B	9.12B
Total Liabilities	15.12B	14.88B	14.02B	8.34B	8.96B	10.34B
Stockholders Equity	2.32B	2.35B	2.36B	893.00M	956.60M	839.30M
Cash Flow
Free Cash Flow	1.91B	2.12B	1.92B	1.40B	587.00M	-464.30M
Operating Cash Flow	2.39B	2.60B	2.36B	1.51B	678.20M	-345.30M
Investing Cash Flow	-534.80M	-312.00M	-1.00M	-67.40M	-72.80M	-74.90M
Financing Cash Flow	-1.89B	-2.18B	-2.40B	-1.34B	-136.20M	257.00M

Dufry AG Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 43.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:AVOL, the sentiment is Positive. The current price of 43.02 is below the 20-day moving average (MA) of 43.27, above the 50-day MA of 41.10, and above the 200-day MA of 37.20, indicating a neutral trend. The MACD of 0.12 indicates Positive momentum. The RSI at 53.63 is Neutral, neither overbought nor oversold. The STOCH value of 51.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:AVOL.

Dufry AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AVOL	74 Outperform	CHF6.21B	61.19	4.37%	1.92%	7.31%	30.75%
Sector *	67 Neutral	¥248.36B	12.95	6.57%	2.82%	5.08%	-11.17%
LMN	58 Neutral	CHF181.83M	11.10	33.95%	3.69%	-3.50%	117.86%

Dufry AG Corporate Events

Avolta AG Showcases Strong Progress Towards Destination 2027 Goals

Avolta AG’s Capital Markets Day highlighted the company’s progress towards its Destination 2027 targets, showcasing strong financial performance and strategic execution. The company has demonstrated resilience and growth, driven by reliable structural drivers and innovative commercial strategies, reinforcing its commitment to sustainable shareholder returns and long-term value creation.

The most recent analyst rating on (CH:AVOL) stock is a Buy with a CHF55.00 price target. To see the full list of analyst forecasts on Dufry AG stock, see the CH:AVOL Stock Forecast page.

Avolta Secures 12-Year Duty-Free Concession at Santiago Airport

Avolta AG has secured a 12-year duty-free concession at Santiago de Chile International Airport, enhancing its leadership in Latin America. This agreement, starting in Q3 2026, will see Avolta operating large duty-free stores, expanding its offerings and integrating Chilean culture into the customer experience, thus contributing to local tourism and economic growth.

The most recent analyst rating on (CH:AVOL) stock is a Buy with a CHF40.00 price target. To see the full list of analyst forecasts on Dufry AG stock, see the CH:AVOL Stock Forecast page.

Avolta AG Secures Nine-Year Retail Contract Extension in Mexico

Avolta AG has extended its retail contract with Grupo Aeroportuario Centro Norte (OMA) in Mexico for nine more years, covering 15 stores across four major airports. This extension reinforces Avolta’s commitment to the region and enhances its long-standing partnership with OMA, aiming to provide travelers with premium experiences while promoting local culture and products.

The most recent analyst rating on (CH:AVOL) stock is a Buy with a CHF55.00 price target. To see the full list of analyst forecasts on Dufry AG stock, see the CH:AVOL Stock Forecast page.

Avolta AG Prices EUR 500 Million in Senior Notes

Avolta AG, a company operating in the financial sector, has announced the pricing of EUR 500 million in senior notes with a seven-year term and an annual interest rate of 4.50%. The proceeds from this offering will be used to refinance existing senior notes due in 2026 and to repay borrowings under its Revolving Credit Facility, potentially strengthening the company’s financial position and market operations.

The most recent analyst rating on (CH:AVOL) stock is a Buy with a CHF55.00 price target. To see the full list of analyst forecasts on Dufry AG stock, see the CH:AVOL Stock Forecast page.

Avolta AG Reports Strong Q1 2025 Performance with Strategic Growth Milestones

Avolta AG, a company with a diversified geographic and channel presence, reported a robust financial performance in the first quarter of 2025, with a CORE turnover growth of 8.2% at constant exchange rates and an EBITDA margin increase of 37 basis points year-over-year. The company achieved significant milestones in its strategic growth projects, including new retail and food & beverage contracts across various regions, and expanded its global loyalty program. Despite challenges in North America, Avolta’s performance in other regions compensated, reinforcing its medium-term growth targets and capital allocation policy.

The most recent analyst rating on (CH:AVOL) stock is a Buy with a CHF55.00 price target. To see the full list of analyst forecasts on Dufry AG stock, see the CH:AVOL Stock Forecast page.

Avolta AG Expands Presence at JFK Terminal 5 with New Contracts

Avolta AG has secured two significant contracts at JFK International Airport’s Terminal 5, involving a 10-year deal to revamp dining experiences and a seven-year contract for a new retail store and gaming lounge. These developments, awarded by Fraport USA and supported by JetBlue, aim to elevate the traveler experience by introducing New York-inspired dining and retail concepts, including a video gaming lounge, further expanding Avolta’s footprint at JFK.

Avolta AG Announces Q1 Trading Update Presentation

Avolta AG has announced an upcoming Q1 Trading Update Presentation scheduled for May 15, 2025. The presentation, hosted by CEO Xavier Rossinyol and CFO Yves Gerster, will be accessible via webcast and phone, providing stakeholders with insights into the company’s performance for the first quarter of 2025.

Avolta AG Announces 2025 Annual General Meeting

Avolta AG has announced its upcoming Annual General Meeting, scheduled for May 14, 2025, at the Messe und Congress Center Basel in Switzerland. This meeting is a significant event for shareholders and stakeholders, as it will provide insights into the company’s strategic direction and future initiatives.

Avolta AG Expands APAC Presence with New Contract at Shanghai Pudong Airport

Avolta AG has announced its expansion in the Asia Pacific region by securing a new contract for multiple outlets at Shanghai Pudong International Airport. This expansion, which includes a mix of retail and dining options, is part of Avolta’s strategic goals to enhance its presence in key travel hubs and provide unique experiences to travelers. The collaboration with Shanghai International Airport Co., Ltd is expected to open in the first half of 2025, marking a significant step in Avolta’s growth and commitment to innovation in global travel retail and F&B.