Buy Or Sell Opportunity • Jul 31
Now 20% undervalued Over the last 90 days, the stock has risen 15% to CHF48.67. The fair value is estimated to be CHF60.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 35%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings are also forecast to grow by 7.8% per annum over the same time period. New Risk • Jul 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Earnings are forecast to decline by an average of 5.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buy Or Sell Opportunity • Jul 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.9% to CHF48.53. The fair value is estimated to be CHF61.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Upcoming Dividend • May 01
Upcoming dividend of CHF1.15 per share Eligible shareholders must have bought the stock before 08 May 2026. Payment date: 12 May 2026. Payout ratio is on the higher end at 83%, however this is supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (4.1%). Buy Or Sell Opportunity • Apr 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.6% to CHF43.52. The fair value is estimated to be CHF56.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.1% per annum. Earnings are also forecast to grow by 8.0% per annum over the same time period. Declared Dividend • Apr 09
Dividend increased to CHF1.15 Dividend of CHF1.15 is 15% higher than last year. Ex-date: 8th May 2026 Payment date: 12th May 2026 Dividend yield will be 2.2%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (83% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has decreased over the past 86 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Apr 08
Avolta AG, Annual General Meeting, May 06, 2026 Avolta AG, Annual General Meeting, May 06, 2026, at 14:30 W. Europe Standard Time. Buy Or Sell Opportunity • Mar 19
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to CHF44.86. The fair value is estimated to be CHF57.31, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 4.3% per annum. Earnings are also forecast to grow by 7.1% per annum over the same time period. Reported Earnings • Mar 12
Full year 2025 earnings released: EPS: CHF1.39 (vs CHF0.70 in FY 2024) Full year 2025 results: EPS: CHF1.39 (up from CHF0.70 in FY 2024). Revenue: CHF14.0b (up 1.9% from FY 2024). Net income: CHF199.0m (up 93% from FY 2024). Profit margin: 1.4% (up from 0.8% in FY 2024). The increase in margin was driven by higher revenue. Like-for-like sales growth: 3.9% vs FY 2024 Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Specialty Retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Mar 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Earnings are forecast to decline by an average of 9.6% per year for the foreseeable future. Reported Earnings • Aug 03
First half 2025 earnings released: EPS: CHF0.19 (vs CHF0.08 in 1H 2024) First half 2025 results: EPS: CHF0.19 (up from CHF0.08 in 1H 2024). Revenue: CHF6.73b (up 4.2% from 1H 2024). Net income: CHF27.0m (up 125% from 1H 2024). Profit margin: 0.4% (up from 0.2% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Specialty Retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Board Change • Jun 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent & Non-Executive Director Bruno Chiomento was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • May 09
Upcoming dividend of CHF1.00 per share Eligible shareholders must have bought the stock before 16 May 2025. Payment date: 20 May 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CHF43.67, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Specialty Retail industry in the United Kingdom. Total returns to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF22.91 per share. Declared Dividend • Apr 13
Dividend increased to CHF1.00 Dividend of CHF1.00 is 43% higher than last year. Ex-date: 16th May 2025 Payment date: 20th May 2025 Dividend yield will be 2.9%, which is lower than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (143% earnings payout ratio). However, it is well covered by cash flows (7% cash payout ratio). The dividend has decreased over the past 76 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 59% to bring the payout ratio under control. EPS is expected to grow by 82% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Tillkännagivande • Apr 11
Avolta AG, Annual General Meeting, May 14, 2025 Avolta AG, Annual General Meeting, May 14, 2025, at 14:30 W. Europe Standard Time. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CHF32.33, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Specialty Retail industry in the United Kingdom. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF23.06 per share. New Risk • Mar 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risk Dividend is not well covered by earnings (143% payout ratio). New Risk • Mar 14
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 143% Dividend yield: 2.6% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (104% net debt to equity). Dividend is not well covered by earnings (143% payout ratio). Large one-off items impacting financial results. Tillkännagivande • Mar 13
Avolta AG Proposes Dividend Avolta AG announced that Dividend of CHF 1.00 per share (+43% year on year) to be proposed at May 2025 AGM. Tillkännagivande • Jan 18
Avolta AG (SWX:AVOL) announces an Equity Buyback for CHF 200 million worth of its shares. Avolta AG (SWX:AVOL) announces a share repurchase program. Under the program, the company will repurchase CHF 200 million worth of its registered shares. This program aims to enhance shareholder value in line with Avolta’s Destination 2027 strategy and efficiently return additional capital to shareholders. The repurchased shares will be cancelled. The program will end no later than December 31, 2025. Tillkännagivande • Sep 26
Avolta AG (SWX:AVOL) agreed to acquire Sky Connection Limited from NWS Holdings Limited (SEHK:659). Avolta AG (SWX:AVOL) agreed to acquire Sky Connection Limited from NWS Holdings Limited (SEHK:659) on September 24, 2024. The Free Duty acquisition would be entirely funded with cash from Avolta AG’s strong balance sheet with no equity or additional financing arrangements being required. The transaction is subject to certain closing procedures, during which time Avolta will work diligently in securing customary conditions precedent. Reported Earnings • Aug 02
First half 2024 earnings released: EPS: CHF0.08 (vs CHF0.23 loss in 1H 2023) First half 2024 results: EPS: CHF0.08 (up from CHF0.23 loss in 1H 2023). Revenue: CHF6.46b (up 11% from 1H 2023). Net income: CHF11.5m (up CHF39.1m from 1H 2023). Profit margin: 0.2% (up from net loss in 1H 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Specialty Retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 143% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 16
Now 20% undervalued Over the last 90 days, the stock has risen 4.3% to CHF36.10. The fair value is estimated to be CHF45.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Board Change • Jun 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Katia Walsh was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • May 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 7.8% to CHF36.82. The fair value is estimated to be CHF30.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Upcoming Dividend • May 10
Upcoming dividend of CHF0.70 per share Eligible shareholders must have bought the stock before 17 May 2024. Payment date: 22 May 2024. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (3.6%). Buy Or Sell Opportunity • Mar 29
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to CHF37.62. The fair value is estimated to be CHF31.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings are also forecast to grow by 32% per annum over the same time period. Reported Earnings • Mar 09
Full year 2023 earnings released: EPS: CHF0.64 (vs CHF0.63 in FY 2022) Full year 2023 results: EPS: CHF0.64 (up from CHF0.63 in FY 2022). Revenue: CHF12.8b (up 86% from FY 2022). Net income: CHF87.3m (up 50% from FY 2022). Profit margin: 0.7% (down from 0.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Specialty Retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 133% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Tillkännagivande • Feb 15
Avolta AG, Annual General Meeting, May 15, 2024 Avolta AG, Annual General Meeting, May 15, 2024. Buying Opportunity • Aug 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.5%. The fair value is estimated to be CHF48.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings is also forecast to grow by 38% per annum over the same time period. Reported Earnings • Aug 07
First half 2023 earnings released: CHF0.23 loss per share (vs CHF0.19 loss in 1H 2022) First half 2023 results: CHF0.23 loss per share (further deteriorated from CHF0.19 loss in 1H 2022). Revenue: CHF5.82b (up 99% from 1H 2022). Net loss: CHF27.6m (loss widened 57% from 1H 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Specialty Retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. New Risk • Aug 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.5% Last year net profit margin: 1.7% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Tillkännagivande • May 09
Dufry AG Approves the Election of Sami Kahale as New Director Dufry AG announced that at its AGM held on May 8, 2023, approved the election of Mr. Sami Kahale as New Director. Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: CHF0.63 (vs CHF4.39 loss in FY 2021) Full year 2022 results: EPS: CHF0.63 (up from CHF4.39 loss in FY 2021). Revenue: CHF6.88b (up 76% from FY 2021). Net income: CHF58.2m (up CHF443.6m from FY 2021). Profit margin: 0.8% (up from net loss in FY 2021). Like-for-like sales growth: 77.9% vs FY 2021 Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Specialty Retail industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 07
Now 20% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be CHF51.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 34% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.3% per annum. Earnings is also forecast to grow by 41% per annum over the same time period. Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Director Alessandro Benetton was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 11
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up CHF499.2m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the next year, revenue is forecast to grow 27%, compared to a 8.5% growth forecast for the industry in the United Kingdom. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Joaquín Moya-Angeler Cabrera was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 11
First half 2021 earnings released: CHF5.89 loss per share (vs CHF17.41 loss in 1H 2020) The company reported a decent first half result with reduced losses and improved control over expenses, although revenues were weaker. First half 2021 results: Revenue: CHF1.19b (down 25% from 1H 2020). Net loss: CHF499.2m (loss narrowed 45% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Executive Departure • May 24
Independent Non-Executive Director has left the company On the 18th of May, See Chiang's tenure as Independent Non-Executive Director ended after 5.1 years in the role. We don't have any record of a personal shareholding under See's name. A total of 2 executives have left over the last 12 months. Reported Earnings • Mar 13
Full year 2020 earnings released: CHF43.01 loss per share (vs CHF0.53 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CHF2.56b (down 71% from FY 2019). Net loss: CHF2.51b (loss widened CHF2.49b from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 13
Revenue beats expectations Revenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 103%, compared to a 6.3% growth forecast for the Specialty Retail industry in the United Kingdom. Is New 90 Day High Low • Feb 25
New 90-day high: CHF59.18 The company is up 18% from its price of CHF49.99 on 26 November 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF32.53 per share. Is New 90 Day High Low • Feb 05
New 90-day low: CHF30.08 The company is down 22% from its price of CHF38.49 on 06 November 2020. The British market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Specialty Retail industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF17.76 per share. Is New 90 Day High Low • Dec 30
New 90-day high: CHF55.76 The company is up 95% from its price of CHF28.56 on 01 October 2020. The British market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Specialty Retail industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF61.23 per share. Tillkännagivande • Nov 18
Dufry Successfully Extends Concession Contract At the St. Petersburg Pulkovo Airport for Seven Years Dufry has successfully extended for another seven years its duty-free concession contract at Pulkovo Airport in St. Petersburg covering a total retail space of over 3,100 m2. St. Petersburg is the most visited tourist city in Russia and Pulkovo airport and welcomes 19.6 million passengers per year, representing an attractive mix of domestic and international travelers. As part of the contract renewal, Dufry will redesign the current departure area by refurbishing the walk-through concept featuring all core categories including Perfume & Cosmetics, Liquor, Tobacco and Food & Confectionery, covering close to 1,900 m2. The refurbishment, in addition to delivering a very innovative design, will also allow a better connection between the duty-free store and the stunning central lounge area of the terminal. The revisited specialty store area with 13 shops across 1,100 m2 presents renowned global brands as well a refined selection of local brands and souvenirs in the Spirit of St. Petersburg destination store. Overall, the refurbishment will increase the flexibility to arrange the retail space to suit changing customer requirements and passenger profiles. The concession also includes a last-minute shop with 100 m2 of sales space presenting a snapshot of the attractive product assortment and providing the last chance to buy some gifts. Tillkännagivande • Oct 29
Dufry AG Announces Executive Changes Dufry AG announced that Jose Antonio Gea, Deputy Group CEO, will step down from his position of Deputy CEO and member of the GEC as per 31 December 2020. Jose Antonio Gea joined Dufry as Global Chief Operating Officer in 2004 and was appointed Deputy Group Chief Executive Officer in 2018. Dufry appointed Salvatore Aricò as Chief Organization & Transformation Officer to the Global Executive Committee reporting to the CEO. Salvatore Aricò is currently acting as Dufry's Global Human Resources Director, has joined the
company in 2014 in the context of the Nuance acquisition and has an in-depth know how of the travel retail industry. In his new role, effective 1 January 2021, he will focus on driving the further development and transformation of the company organization. The Human Resources department will remain within the area of responsibility of Luis Marin, Chief Corporate Officer. Tillkännagivande • Sep 27
Dufry AG (SWX:DUFN) entered into a definitive agreement to acquire 42.6% stake in Hudson Ltd. (NYSE:HUD) for approximately $310 million. Dufry AG (SWX:DUFN) entered into a definitive agreement to acquire 42.6% stake in Hudson Ltd. (NYSE:HUD) for approximately $310 million on August 19, 2020. Under the terms of transaction, Dufry will acquire all of the equity interests in Hudson that it does not already own for $7.70 in cash for each Hudson Class A share. The transaction will be funded by equity rights offering. Upon completion of the transaction, Hudson will become an indirect wholly owned subsidiary of Dufry and will be delisted from the New York Stock Exchange. Dufry shall pay to Hudson a termination fee of USD 6 million or USD 12 million, respectively, if the merger is not consummated by December 18, 2020 or April 18, 2021, respectively, Dufry is not entitled to receive a termination fee payable by Hudson. The transaction is subject to approval by the holders of a majority of Hudson’s outstanding common shares, successful completion of an equity rights offering by Dufry to finance the transaction, the approval of the equity capital increase necessary for such rights offering by Dufry’s shareholders, the consent of Dufry’s lenders under its existing credit facilities as well as other customary closing conditions. The terms of the transaction were negotiated, unanimously recommended, and approved by the independent directors of Hudson who formed a special committee to negotiate with Dufry, given Dufry’s existing ownership stake in Hudson and representation on Hudson’s Board of Directors. The transaction has been unanimously approved and recommended by the Board of Directors of Dufry and a special committee of independent directors of Hudson, as well as the Board of Directors of Hudson. The transaction is expected to be completed in the fourth quarter of 2020.
Cravath, Swaine & Moore LLP acted as legal advisor and Lazard Frères & Co. LLC and Banco Santander, S.A. acted as financial advisors to special committee of Hudson. UBS Investment Bank acted as financial advisor and Daniel Brass, John B. Meade and Jeffrey P. Crandall of Davis Polk & Wardwell LLP, Appleby and Frank Gerhard, Andreas Müller, Jürg Frick, Dieter Grünblatt and Reto Heuberger of Homburger AG acted as legal advisors to Dufry AG. Philippe Weber and Thomas Brönnimann of Niederer Kraft Frey Ltd acted as legal advisors for Dufry. Tillkännagivande • Aug 16
Dufry AG to Report Q3, 2021 Results on Oct 28, 2021 Dufry AG announced that they will report Q3, 2021 results on Oct 28, 2021 Tillkännagivande • Aug 03
Dufry AG to Report Fiscal Year 2020 Results on Mar 09, 2021 Dufry AG announced that they will report fiscal year 2020 results on Mar 09, 2021 Tillkännagivande • Jul 23
Dufry AG to Report First Half, 2020 Results on Aug 03, 2020 Dufry AG announced that they will report first half, 2020 results on Aug 03, 2020 
