Avolta: successful integration of Autogrill

15. April 2024
-IAM, News

Olivier Aeschlimann, Senior Financial Analyst

The group, the result of the merger of Dufry and Autogrill, is present in 75 countries and operates more than 1,200 stores, mainly in airports, but also on highways, on cruise ships, in seaports and train stations. After a transformative 2023 for the group, Avolta is confident for the future. The integration of the Italian Autogrill has in fact enabled the former Dufry to not only almost double its size, but also to achieve significant synergies which have improved its profitability. Avolta’s turnover reached CHF 12.5 billion in 2023. This represents growth of 16% compared to the pro forma figures established by the company. Furthermore, Avolta benefited from the strong recovery in international travel following the end of the pandemic. This trend is expected to continue over the coming years. Finally, S&P raised the group’s credit rating from BB to BB+ with stable outlook. This improvement is justified, among other things, by operational performance in 2023 and an improved market position following the rapid integration of Autogrill.