Avolta AG (CH:AVOL)
:AVOL
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Avolta AG
(AVOL)
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Rating:68Neutral
Price Target:
CHF48.00
▼(-8.92% Downside)
Action:ReiteratedDate:04/10/26
The score is driven primarily by solid operational performance and strong free cash flow, offset by meaningfully elevated balance-sheet leverage. Technicals are supportive with the price above key moving averages, while valuation is a headwind due to a high P/E and only modest dividend yield.
Positive Factors
Strong cash generation
Sustained high operating and free cash flow provides durable capacity to fund operations, service debt, and invest in store openings or refurbishments. Robust cash conversion over multiple years supports operational resilience despite cyclical travel demand swings.
Negative Factors
Very high leverage
Elevated absolute debt levels materially raise financial risk and constrain strategic flexibility. Heavy leverage increases interest burden sensitivity to rate moves, limits capacity for opportunistic investments, and heightens refinancing and covenant pressures over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained high operating and free cash flow provides durable capacity to fund operations, service debt, and invest in store openings or refurbishments. Robust cash conversion over multiple years supports operational resilience despite cyclical travel demand swings.
Read all positive factors
Avolta AG (AVOL) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF6.24B
Dividend Yield2.13%
Average Volume (3M)174.83K
Price to Earnings (P/E)33.9
Beta (1Y)1.14
Revenue Growth1.88%
EPS Growth99.08%
CountryCH
Employees57,679
SectorGeneral
Sector StrengthN/A
IndustrySpecialty Retail
Share Statistics
EPS (TTM)1.41
Shares Outstanding141,648,350
10 Day Avg. Volume177,797
30 Day Avg. Volume174,829
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)3.54
Price to Sales (P/S)0.48
P/FCF Ratio2.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF50.67Price Target Upside-3.86% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)3.19
Revenue Forecast (FY)CHF14.01B
Avolta AG Business Overview & Revenue Model
Company Description
Avolta AG operates as a travel retailer. The company's retail brands include general travel retail shops under the Dufry, World Duty Free, Nuance, Hellenic Duty Free, Colombian Emeralds, Duty Free Uruguay, Hudson, Duty Free Shop Argentina, RegStae...
How the Company Makes Money
Avolta makes money primarily by operating retail and food & beverage locations in high-traffic travel environments (most notably airports) under concession-style contracts. Its core revenue streams include: (1) product sales from travel retail sto...
Avolta AG Earnings Call Summary
Earnings Call Date:Jul 31, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance with robust growth across most regions, successful loyalty programs, and strategic expansions. However, challenges in North America and the Middle East, along with operational constraints in Spain, indicate some areas of concern.Positive Updates
Strong Organic Growth
Reported growth of 7.1% with strong organic growth at 5.7% despite geopolitical and economic challenges.
Negative Updates
Weakness in North America
Organic growth in North America was flat due to lower domestic passenger numbers.
Read all updates
Q2-2025 Updates
Positive
Negative
Strong Organic Growth
Reported growth of 7.1% with strong organic growth at 5.7% despite geopolitical and economic challenges.
Read all positive updates
Company Guidance
In the recent half-year results call for Avolta, the company provided comprehensive guidance on its performance metrics and strategic outlook. The company reported a robust 7.1% growth at constant currency for the first six months of the fiscal year 2025, with organic growth at 5.7%. Despite geopolitical and market challenges, the EBITDA margin improved by 30 basis points, reaching 9.3% for the half year. Avolta also generated strong equity free cash flow of CHF 216 million, enabling deleveraging to a net debt to EBITDA ratio of 2.15x. The company reaffirmed its mid-term outlook, aiming for organic growth between 5% to 7%, EBITDA margin expansion of 20 to 40 basis points annually, and equity free cash flow growth of 100 to 150 basis points. Avolta's strategic focus on commercial and digital transformation, alongside its commitment to shareholder value through disciplined capital allocation, has underpinned its predictable financial performance. The loyalty program, Club of Bolta, has reached 13 million members, contributing significantly to sales, as members spend three times the average ticket value.Avolta AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
46
Neutral
Cash Flow
84
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.98B | 13.72B | 12.79B | 6.88B | 3.92B |
| Gross Profit | 4.25B | 4.26B | 3.92B | 4.19B | 2.21B |
| EBITDA | 3.03B | 2.84B | 2.47B | 1.62B | 1.05B |
| Net Income | 199.00M | 103.00M | 87.30M | 58.20M | -385.40M |
Balance Sheet | |||||
| Total Assets | 16.30B | 17.40B | 16.51B | 9.31B | 9.99B |
| Cash, Cash Equivalents and Short-Term Investments | 727.00M | 756.00M | 769.50M | 854.70M | 793.50M |
| Total Debt | 11.45B | 11.91B | 11.19B | 6.58B | 7.45B |
| Total Liabilities | 14.24B | 14.88B | 14.02B | 8.34B | 8.96B |
| Stockholders Equity | 1.91B | 2.35B | 2.36B | 893.00M | 956.60M |
Cash Flow | |||||
| Free Cash Flow | 2.40B | 2.12B | 1.92B | 1.40B | 587.00M |
| Operating Cash Flow | 2.86B | 2.60B | 2.36B | 1.51B | 678.20M |
| Investing Cash Flow | -475.00M | -312.00M | -1.00M | -67.40M | -72.80M |
| Financing Cash Flow | -2.31B | -2.18B | -2.40B | -1.34B | -136.20M |
Avolta AG Technical Analysis
Positive
52.70
Price Trends
48.91
Positive
47.73
Positive
45.81
Positive
Market Momentum
1.22
Negative
66.35
Neutral
82.75
Negative
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 52.7 is above the 20-day moving average (MA) of 49.01, above the 50-day MA of 48.91, and above the 200-day MA of 45.81, indicating a bullish trend. The MACD of 1.22 indicates Negative momentum. The RSI at 66.35 is Neutral, neither overbought nor oversold. The STOCH value of 82.75 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:AVOL.
Avolta AG Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | CHF4.74B | 19.27 | ― | 1.85% | 0.47% | -9.20% | |
68 Neutral | CHF6.24B | 33.91 | 4.37% | 2.13% | 1.88% | 99.08% | |
67 Neutral | CHF3.81B | 8.09 | ― | 4.14% | -0.21% | -5.57% | |
64 Neutral | CHF5.73B | 25.28 | 22.69% | 1.82% | 5.68% | 8.06% | |
60 Neutral | CHF2.97B | 14.14 | ― | 4.46% | -1.87% | -4.57% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | CHF1.07B | 72.95 | ― | 0.77% | -7.74% | -58.06% |
* General Sector Average
CH:AVOL
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43.80
7.23
19.77%
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Avolta AG Corporate Events
Avolta Schedules Q1 2026 Trading Update Webcast for May 7
Apr 23, 2026
Avolta AG announced it will hold a Q1 2026 trading update presentation webcast on May 7, 2026, at 14:30 CEST, led by CEO Xavier Rossinyol and CFO Yves Gerster. The update, to be published earlier that morning on the company’s investor relati...
Avolta Publishes Details for 2026 Annual General Meeting in Basel
Apr 2, 2026
Avolta AG has published the invitation to its 2026 Annual General Meeting, which will be held on May 6, 2026, at Rhypark in Basel, Switzerland. Shareholders can access the AGM invitation, agenda and a letter from the chairman online, underscoring ...
Avolta Wins 15-Year Food Hall Deal at Jacksonville International Airport
Apr 1, 2026
Avolta AG has secured a new 15-year food and beverage contract at Jacksonville International Airport in Florida, cementing its expansion in the U.S. airport FB market. The deal includes a 500 m2 Oak Ocean food hall with four outlets that mix loca...
Avolta to Launch CHF 225 Million Share Buyback Under Destination 2027 Plan
Mar 13, 2026
Avolta AG has confirmed the launch of its previously announced public share buyback program of up to CHF 225 million, starting on March 16, 2026. The move is positioned as a key element of the company’s Destination 2027 strategy, signalling ...
Avolta Lifts Profit, Cash Flow and Payouts as New Buyback Targets 10% Capital Cut
Mar 11, 2026
Avolta AG reported a solid 2025 performance, with IFRS turnover edging up to CHF 13.98 billion, CORE turnover growing 5.9% at constant exchange rates, and operating profit rising 18.1% to CHF 1.10 billion. CORE EBITDA increased, margins improved, ...
Avolta Extends Major Retail and F&B Concessions at Zurich Airport to 2035
Mar 4, 2026
Avolta AG has renewed and extended its concessions at Zurich Airport, securing the operation of 45 travel retail and food beverage outlets over more than 10,000 square meters and cementing its long-term presence at one of Europe’s key aviat...
Avolta Cancels 4.9 Million Treasury Shares, Trimming Share Capital
Mar 2, 2026
Avolta AG has completed the cancellation of 4.86 million treasury shares, equivalent to 3.32% of its registered share capital, effective 24 February 2026. Following this move, the company’s registered share capital stands at CHF 708.24 milli...
Avolta Wins 12-Year Retail and F&B Extension at Miami International Airport
Feb 26, 2026
Avolta AG has secured a 12-year extension for its travel retail and food and beverage operations at Miami International Airport, cementing its presence across the North, Central and South terminals of one of the U.S.’s busiest international ...
Avolta broadens Italian airport footprint with new F&B contracts
Feb 19, 2026
Avolta AG is expanding its Italian airport footprint by entering Verona Valerio Catullo airport under a ten-year food and beverage contract and adding five FB concepts that mix international brands with Italian formats tailored to diverse passenge...
Avolta Wins 12-Year Deal to Transform Dining at Toronto Pearson Airport
Feb 17, 2026
Avolta AG has secured a new 12-year contract to overhaul more than 5,300 square metres of dining space in Terminals 1 and 3 at Toronto Pearson International Airport, Canada’s busiest airport. Through its HMSHost division, the company will in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.