Strong performance acceleration in Dufry’s largest region

Dufry’s largest region, which includes 31 countries, saw a strong and consistent recovery all year long, with performance peaking during the summer months and continuing well into autumn. Acceleration was mainly driven by leisure demand towards holiday destinations allowing the region to reach a considerable organic growth of 120.7 % as compared to the previous year (in constant FX). This is all the more remarkable, as the strong EMEA performance came in despite flight disruptions and capacity cuts across European airports and by airlines throughout the summer months.

In 2022, turnover came in at CHF 3,586.0 million versus CHF 1,723.8 million in 2021. From a country perspective, strong demand increases were reported from Turkey, Greece and the Middle East, while also UK, France, Italy, Spain, Eastern Europe, and Africa made considerable progress.

The EMEA region succeeded in winning new and extending important contracts. Above all, Dufry successfully extended its Heathrow concession contract for three years until 2029, which is the largest single location operated by Dufry serving over 80 million passengers annually (2019 level). Furthermore, Dufry secured concessions at Helsinki Airport in Finland, at Sofia International Airport in Bulgaria as well as at Kuwait International Airport.

Dufry opened in total 7,219 m2 of retail space such as in Spain and Turkey. Refurbishments covered 15,508 m2 and where performed amongst others at Glasgow, Manchester and Stockholm airports.

Europe, Middle East and Africa at a glance:

52% Turnover 2022

3,586 million CHF Turnover 2022

725 Shops

214,674 m2

10,353 Employees in FTE


Asia-Pacific improving after first signs of easing restrictions

Whilst traveling in Asia-Pacific remained widely impacted throughout the whole year, first steps to lift travel restrictions in the region were seen during the second quarter in Australia, Indonesia and Cambodia. Further gradual progress and opening for international travel was made during the summer. Our operations in Macao and domestic China were operational throughout 2022, with temporary closures related to China’s zero-Covid approach. Towards the end of the year, a beginning of easing restrictions was also seen in Hong Kong and for international travel in China.

In 2022, turnover in Asia-Pacific amounted to CHF 165.9 million as compared to CHF 99.0 million in 2021. This improvement was also reflected in an acceleration of organic growth, which came in at 64.8 % on the previous year.

Despite the ongoing challenging business environment in Asia-Pacific, Dufry won some important new contracts such as the fifteen-year joint-venture contract to operate and manage duty-free outlets in the new Terminal 2 of the Kempegowda International Airport Bengaluru in India. An equally important win is the five-year duty-paid concession to operate five shops at Chongqing International Airport in China, which is the ninth busiest in the country, welcoming close to 45 million passengers in 2019. Moreover, Dufry extended its concession contract at Gusti Ngurah Rai International Airport in Bali for six years, which includes an increase in retail space of over 1,400 m2, thus extending the total sales area to over 3,600 m2 and allowing the introduction of fashion and accessories as new categories in this location.

Total gross retail space opened in 2022 amounted to 2,394 m2 and refurbishments reached 5,405 m2.

Asia Pacific at a glance:

2% Turnover 2022

166 million CHF Turnover 2022

67 Shops

25,060 m2

810 Employees in FTE


Strong rebound since early 2022 progressing across the whole region

The rebound in The Americas at the beginning of the year was mainly driven by a continuous increase in domestic flights in the US and intra-regional touristic traveling to Mexico, Central America as well as the Caribbean Islands and the Dominican Republic. In a second step, also transatlantic travel as well as South American destinations started to trend upwards, especially in Argentina, Colombia and Ecuador during the third quarter and with the wider region having followed most recently.

Benefitting from the overall more favorable travel environments, the region The Americas saw a strong performance and reported a turnover of CHF 2,918.3 million versus CHF 1,728.5 million in the previous year, reflecting organic growth versus 2021 of 62.7 %.

Dufry signed new concessions contracts at Felipe Ángeles International Airport in Santa Lucia, México, at Recife International Airport in Brazil and at Colorado Springs Airport in the US. Moreover, contract extensions have been achieved at La Romana International Airport and Seaport in the Dominican Republic, at Ontario International Airport in Canada, at Salvador International Airport in Brazil as well as at Birmingham- Shuttlesworth and Harry Reid International Airport in the US. Also worth mentioning is the new partnership with Starbucks with the first stores opened at LaGuardia Airport and the Hudson Nonstop travel convenience stores launched in both Nashville International Airport and Dallas Fort Worth International Airport. Total gross retail space opened in 2022 amounted to 6,923 m2 while refurbishments reached 11,858 m2.

The Americas, which covers some of the World’s most iconic travel and tourism destinations, is characterized by the large variety of shops concepts offered within duty-free and duty-paid environments and including several convenience and airport F & B formats. In 2022, ushering into an entirely new era of hybrid retail and dining convenience for travelers, Dufry opened an integrated «Decanted» wine bar and Hudson Nonstop concept at Dallas Fort Worth International Airport, which further enhances the customers’ travel experience.

The Americas at a glance:

42% Turnover 2022

2,918 million CHF Turnover 2022

1,445 Shops

231,834 m2

12,046 Employees in FTE

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