Zahlen Dufry 1. HJ 2020
- 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 million
- Comprehensive 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 CHF1,583.7 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% scenario
- Current re-organization initiatives to reduce complexity and simplify decision-making, thus driving the company’s profitability and preparing growth acceleration
- Passenger flows gradually returning since mid-June, resulting in -82.3% organic growth in July 2020 compared to same month of previous year
- Limited visibility on mid-term recovery trajectory, with industry forecasts of returning to 2019 levels from 2022 onwards