• 19/10/2020

    Dufry announces rights take-up in connection with its rights offering

    Dufry AG (SIX: DUFN) (“Dufry”) announces that further to the ordinary capital increase, approved by the Extraordinary General Meeting on October 6, 2020, to increase the share capital of Dufry through the issuance of up to 24,696,516 new registered shares (the “New Shares”) and the related “at-market” rights offering, subscription rights for 10,612,024 New Shares have been exercised by existing shareholders, corresponding to 42.97% of the New Shares offered. Subscription rights not exercised have lapsed at the end of the rights exercise period, which ended at 12:00 noon CEST on October 19, 2020.

  • 06/10/2020

    Results of the Extraordinary General Meeting of Dufry AG on October 6, 2020

    The Extraordinary General Meeting of Dufry AG was held at the offices of Dufry AG at Brunngässlein 12, 4052 Basel, Switzerland, on October 6, 2020 at 14.00 hrs. The meeting was held without the presence of shareholders based on Article 27 of the Ordinance 3 issued by the Swiss Federal Council on measures to prevent coronavirus (COVID-19) of June 19, 2020, validly convened and constituted, and shareholders duly registered in the share register of the Company representing 23,316,224 shares and 41.96% of the total share capital of Dufry AG were represented at the meeting. All proposals of the Board of Directors have been approved by the Extraordinary General Meeting.

  • 06/10/2020

    Dufry publishes terms of the planned capital increase by way of a Rights Offering

    Dufry AG (SIX: DUFN) (“Dufry”) today announces the terms of the ordinary capital increase by way of a rights offering to be approved by Dufry's Extraordinary General Meeting today, October 6, 2020. The envisaged gross proceeds of approx. CHF 700 million from the planned capital increase will be used in part to finance the acquisition of all remaining equity interest in Hudson Ltd. (NYSE: HUD) (“Hudson”) previously announced on August 19, 2020, as well as for general corporate purposes, which may include the setup and operations of the Joint Venture with Alibaba Group to pursue growth opportunities in China and to accelerate Dufry's digital transformation.

  • 05/10/2020

    Dufry and Alibaba Group have agreed to form a strategic Joint Venture in China and Alibaba Group plans an equity investment in Dufry with a target ownership of up to 9.99% of the post-offering share capital

    Dufry has agreed to form a Joint Venture with Alibaba Group to partner in the Chinese travel retail marketsPartnership brings together Alibaba Group's leadership in Chinese consumer retail and digital transformation with Dufry's global travel retail expertiseAlibaba Group plans an equity investment in Dufry with a target ownership of up to 9.99% post capital increaseBased on Alibaba Group's commitment, Dufry proposes to the upcoming Extraordinary General Meeting (EGM) on 6 October 2020 to issue up to 25 million shares, resulting in a potential issue size of approximately CHF 700 millionExtension of deadline to vote at the EGM to 5 October 2020, 6pm CEST

  • 15/09/2020

    Dufry wins new, twelve-year concession at Istanbul Sabiha Gökçen International Airport

    Dufry has been awarded a new concession contract at Istanbul Sabiha Gökçen International Airport to operate a total of 3,900 m2 of duty-free and specialty shops until 2032. The airport is the closest hub connecting Istanbul's City Center with 137 international and 37 domestic destinations and ranks as second busiest Turkish airport welcoming more than 35 million passengers per annum. The new concession further consolidates Dufry's footprint in Turkey, where it will now be operating in four locations

  • 11/09/2020

    Extraordinary General Meeting of Dufry AG on October 6, 2020

  • 10/09/2020

    Dufry plans rights offering to raise gross proceeds of approximately CHF 500 million, and has secured a CHF 415 million equity investment commitment from Advent International

    Dufry AG ("Dufry") will hold an Extraordinary General Meeting ("EGM") on October 6, 2020, to approve an ordinary capital increase for a rights offering targeting gross proceeds of approximately CHF 500 million. The envisaged proceeds are planned to be used to finance the previously announced acquisition of all remaining equity interest in Hudson Ltd. and for general corporate purposes. In this context, Dufry has already secured a CHF 415 million equity investment commitment from funds managed by Advent International Corporation or its affiliates ("Advent International") to purchase shares at CHF 28.50 per share.

  • 19/08/2020

    Dufry plans to acquire all remaining equity interest in Hudson and to delist Hudson from the New York Stock Exchange

    Dufry AG (SIX: DUFN) (“Dufry”) and Hudson Ltd. (NYSE: HUD) (“Hudson”) announced today that they have entered into a definitive agreement pursuant to which Dufry would acquire all the equity interests in Hudson it does not already own for USD 7.70 in cash per Hudson Class A share (the “Transaction”). Upon completion of the Transaction Hudson will be delisted from the New York Stock Exchange.The delisting of Hudson is part of Dufry's current re-organization and is intended to further simplify its corporate structure and align its operations to the new business environment. Dufry expects to realize annual cost savings of at least CHF 20 million, thereby further supporting its comprehensive set of already announced cost saving measures, and to improve cash flows going forward.Dufry intends to finance the proposed Transaction through an equity capital increase by way of a rights issue upon approval of Dufry's shareholders at an extraordinary general meeting. The Transaction has been fully underwritten by a bank consortium.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.

  • 03/08/2020

    HY 2020 impacted by Covid-19, Dufry accelerates re-opening and drives business re-organization

    Turnover reached CHF 1,586.9million impacted by the Covid-19 pandemic, equal to -60.6% year-on-year organic growth, with resilient gross profit margin at 58.0%, adjusted operating cash flow of CHF -103.5 million, and equity free cash flow of CHF -749.1 millionComprehensive action plan implemented including fix cost savings of CHF 469.7 million in first half 2020, targeted fix cost savings of around CHF 1 billion for full-year 2020, and strengthened financial structure with CHF 1,583.7 million pro-forma liquidity position as of June 30, 2020[1]Having aligned the organization to different full-year 2020 turnover scenarios, with an expected average monthly cash flow in second half 2020 of ~CHF +60 million in a -40% scenario, ~CHF +10 million in a -55% scenario, and ~CHF -60 million in a -70% scenarioCurrent re-organization initiatives to reduce complexity and simplify decision-making, thus driving the company's profitability and preparing growth accelerationPassenger flows gradually returning since mid-June, resulting in -82.3% organic growth in July 2020 compared to same month of previous yearLimited visibility on mid-term recovery trajectory, with industry forecasts of returning to 2019 levels from 2022 onwards

  • 22/07/2020

    Invitation to Dufry's Half-Year Results 2020 Conference and Management Call on August 03, 2020 in Zurich, CH

  • 24/06/2020

    Dufry to implement a global restructuring program

    Dufry, in line with the initiatives to reduce expenses and to adapt the company to the new business environment, has decided to implement a restructuring program to mitigate the consequences of the Covid-19 pandemic. The program aims at reducing personnel expenses by 20% to 35% reflecting the different scenarios of potential sales declines between 40% to 70%, which the company had already presented in its Q1 Trading Update on May 12, 2020. The reduction in personnel expenses includes early retirements, hold-backs of seasonal staff employment, contributions from government support schemes as well as the reduction of positions across all organizational levels and geographies. Due to consultation procedures in several countries, it is currently not possible to provide details on the number and locations of the positions concerned. The company plans to implement these measures between June and October 2020.

  • 09/06/2020

    Dufry's new Global Executive Committee structure, effective September 1, 2020, integrates HQ and divisions, while simplifying top management functions

    Dufry is adapting its organization to the new business environment to accelerate growth and support profitability during the recovery phase of the economic crisis and beyond. The new organizational structure, which will become effective as of September 1, 2020, aims at further strengthening the airport travel retail business and other channels, thus driving the company's profitability and preparing growth acceleration.

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