Dufry grows in the year and strengthens focus on debt reduction and change of shops

São Paulo-Dufry, global carrier stores in airports, reported in the first nine months of this year growth of both revenue and net income, which advanced more than three times, compared to the previous year. For the next few quarters, the focus will be on cash generation, low leverage, and continuity of the process of implementation of the concept ' new generation ' in stores of the group. The ceo of Dufry-group that owns brands such as Duty Free and Duty Paid-, Julián Díaz, stated that the company has been reducing the leverage and the target in the medium term is to achieve a net debt/ebitda ratio below 3 times. At the end of September, the proportion reached 3.45 times, a 0.23 percentage point reduction compared to the month of June this year. The decrease occurred for a considerable reduction in the net debt of the group, which went from 3.62 billion Swiss francs to 3.47 billion. About the changes in the stores, the command of the company explained in a teleconference with analysts, that the concept of ' new generation ', which includes a more modern format and a digital and personalized experience for the consumer, is already implemented in the shops of Melbourne ( Australia), and Madrid (Spain). The two were the first to receive the new concept, but the company reported that in coming quarters the model will be taken also to units from Heathrow Airport in London (England), Zurich (Switzerland) and Cancun (Mexico). "The stores ' new generation ' provide a unique experience, including scanning of employees to better serve customers, and allows adapting messages and promotions for different profiles of travelers in airports," explained the President of the Dufry. In the period from January to September this year, the Swiss company has expanded to more than 20,500 m ² gross sales area, between openings of new stores and expansions. Most of the expansions in Latin America (29%), followed by North America (26%). During the Conference call, the President stressed that of Dufry group follows studying the idea of holding an IPO (initial public offering) in the North American market. Today, the company is listed only in the stock markets of Switzerland and Brazil. "We followed considering the idea, but the decision hasn't been made. Everything is still open and depends on various circumstances, "said Díaz. Revenue and net income in the first nine months of the year, net of Dufry, considering all the markets where the company operates, grew 6.7 percent to 6.27 billion Swiss francs. Part of the growth was driven by strong organic growth, almost 8%. Of the regions in which the Group operates the largest expansion was Latin America, which saw a 13 percent advance in net revenues. The company said the positive performance of Brazil, Uruguay, Chile, Peru and the Dominican Republic. In addition to the strong performance of operations located in Latin America, the company pointed out that contributed to the result very good summer season in Europe and the acceleration of development in Asia. Already the net income presented in the period grew by 308%, from 29.9 million Swiss francs to 122 million Swiss francs. The company explained that, due to the high seasonality of the business, the second half of the year is considerably stronger in terms of profitability. The net profit attributable to shareholders was at 84.7 million Swiss francs.