Dufry declines on European uncertainty, despite revenue and EBITDA improvement in first quarter
Shares in Switzerland’s Dufry lost a further 1.4% yesterday, following a 5.2% drop on Wednesday, despite a positive earnings performance in the three months ended 31-Mar-2010. Dufry released its financial highlights yesterday.
EBITDA jumped 11.5% year-on-year to EUR45.0 million on a 8.5% rise in revenue to EUR406.3 million in the period. Cost of sales was up 5.8% year-on-year to EUR176.4 million, while EBIT rose 27.3% to EUR22.0 million. Dufry reported a net profit of USD5.8 million, a turnaround for a loss of EUR1.3 million in the previous corresponding period.
European airport shares continued their downward run yesterday with investor uncertainty about the eurozone economic outlook and potential future ash cloud-related airspace closures.
Today’s edition of Airport Business Daily contains the full financial report for Dufry. Subscribe today for the latest financial, traffic and strategic airport updates. Other headlines today include:
- Moscow Sheremetyevo Airport reports increased revenue and return to profit in 1Q2010;
- Brussels Airport reports 23% fall in Apr-2010 pax;
- NATS reports 21.2% drop in Apr-2010 traffic;
- Portland Airport reports 0.4% drop in Apr-2010 pax
- Canada's airport duty free sales up 6.6% in Apr-2010;
- Ben Gurion Airport reports 13.2% rise in Apr-2010 cargo volume.
Selected airports daily share price movements (% change): 20-May-2010