Dufry is a travel retail company. Co. operates over 1,650 shops worldwide. Co.'s shops are either duty free or duty paid shops, located in airports. Co.'s product categories include: Perfumes and Cosmetics; Confectionery, Food and Catering; Wine and Spirits; Watches, Jewelry and Accessories; Tobacco goods; Fashion, Leather and Baggage; Literature and Publications; Electronics; and Toys, Souvenirs and other goods.
  • TickerDUFN
  • ISINCH0023405456
  • ExchangeSix Swiss Exchange
  • SectorGeneral Retailers
  • CountrySwitzerland

Analysts

Dufry Ag: 1 director sold

A director at Dufry Ag sold 2,000 shares at 97.457CHF and the significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - EN

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - FR

UniCredit (Achat) : RN de €4,3mds sur les 9M-19 (versus €2,2mds un an avant), amélioration de la qualité d’actifs Generali (Achat) - 9M-19 : RN en hausse de +17% à €2,2mds ING (Achat): Emission d'un nouveau titre Tier 2  11NC6 AXA (Achat) - 9M-19 : CA de €79,7 mds (+5%) Coty (Achat) - T1-2019/20 : Résultat opérationnel de $155m (+10%) ArcelorMittal (Achat) - 9M-19 :  EBITDA de $4,3 mds (-48,6%) CNH Industrial (Achat) - 9M-19 :  EBIT de $1,5 md (-6,3%) Wirecard (Achat) - 9M-19 : EBITDA de €553m (+38,4%)

Dufry AG: Proposed new bond is credit positive as debt maturity profile extended and, we expect, interest costs will be lower

Dufry's credit quality is largely unaffected by proposed new bond issuance although the debt maturity extension and expected lower interest costs are credit positive

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - FR

Intesa SanPaolo (Achat) : RN en hausse de +9,9% à €3,3 mds (soit le niveau le plus élevé depuis 2008) sur les 9M-19 Hannover Re - 9M-19 : Résultat opérationnel de €1,4 md (+20,6%) Société Générale (Achat) - 9M-19 : RN de €2,6 mds (-24,5%) Casino (Achat CT, Conserver LT) : Lance son offre de rachat obligataire sur les souches 2020 Avis (Achat) - 9M-19 : EBITDA de $645m (+1%) Hertz Global Holdings (Vente) - 9M-19 : EBITDA de $595m (+54,9%) Orpea (Achat) : Relève son objectif pour 2019 et attend une croissance du CA de +9,2% Bureau ...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - EN

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 07/11/2019 - UniCredit - FR

UniCredit (Achat) : RN de €4,3mds sur les 9M-19 (versus €2,2mds un an avant), amélioration de la qualité d’actifs Generali (Achat) - 9M-19 : RN en hausse de +17% à €2,2mds ING (Achat): Emission d'un nouveau titre Tier 2  11NC6 AXA (Achat) - 9M-19 : CA de €79,7 mds (+5%) Coty (Achat) - T1-2019/20 : Résultat opérationnel de $155m (+10%) ArcelorMittal (Achat) - 9M-19 :  EBITDA de $4,3 mds (-48,6%) CNH Industrial (Achat) - 9M-19 :  EBIT de $1,5 md (-6,3%) Wirecard (Achat) - 9M-19 : EBITDA de €553m (+38,4%)

Dufry AG: Proposed new bond is credit positive as debt maturity profile extended and, we expect, interest costs will be lower

Dufry's credit quality is largely unaffected by proposed new bond issuance although the debt maturity extension and expected lower interest costs are credit positive

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - FR

Intesa SanPaolo (Achat) : RN en hausse de +9,9% à €3,3 mds (soit le niveau le plus élevé depuis 2008) sur les 9M-19 Hannover Re - 9M-19 : Résultat opérationnel de €1,4 md (+20,6%) Société Générale (Achat) - 9M-19 : RN de €2,6 mds (-24,5%) Casino (Achat CT, Conserver LT) : Lance son offre de rachat obligataire sur les souches 2020 Avis (Achat) - 9M-19 : EBITDA de $645m (+1%) Hertz Global Holdings (Vente) - 9M-19 : EBITDA de $595m (+54,9%) Orpea (Achat) : Relève son objectif pour 2019 et attend une croissance du CA de +9,2% Bureau ...

Dufry AG - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Alain William ...
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Michael Foundoukidis
  • Olfa Taamallah
  • Steven Gould
  • Sylvain Goyon, CFA
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/05/2019

You have to know when you’re beaten. Our tactical caution derived from a macroeconomic slowdown and lacklustre EPS growth, has been severely buffeted over the last four weeks. Admittedly, the fundamentals remain relatively unappealing and the downward revisions of the consensus for 2020e are yet to come, but the elements of a risk rally are falling into place: optimism on the trade war, spectre of a no-deal Brexit scenario now fading, stabilisation of PMI indices in Europe, persistent...

Alain William ...
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Michael Foundoukidis
  • Olfa Taamallah
  • Steven Gould
  • Sylvain Goyon, CFA
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/11/2019

Il faut savoir se reconnaitre battu. Notre prudence tactique dérivée du ralentissement macroéconomique et de la faiblesse de la croissance des BPA a pris sévèrement l’eau sur les 4 dernières semaines. Les fondamentaux restent pourtant peu reluisants et les révisions en baisse du consensus pour 2020e sont à venir, mais les éléments d’un « risk rally » se mettent en place : optimisme sur la guerre commerciale, éloignement du no deal Brexit, stabilisation des PMI en Europe, persistance d...

Fehmi Ben Naamane

Dufry AG : Positive set of figures in Q3. Buy recommendation reiterated

>Improved organic growth in Q3 - 9M 2019 sales came in at CHF 6.68bn, up 1.8% y-o-y (CHF 2.50bn in Q3, up 2% y-o-y). This compares with ODDO BHF’s and the consensus expectations at CHF 6.7bn. Dufry published organic growth of 2.9% at end-September, which means a healthy 4.1% in Q3, a significant improvement vs +2.3% in Q2 and +2.1% in Q1. Net new concessions contributed 2.8% in Q3, better than Q2 at +2.3%.By market, we see a significant improvement in Central and...

Fehmi Ben Naamane

Dufry AG : Positive set of figures in Q3. Buy recommendation reiterated

>Improved organic growth in Q3 - 9M 2019 sales came in at CHF 6.68bn, up 1.8% y-o-y (CHF 2.50bn in Q3, up 2% y-o-y). This compares with ODDO BHF’s and the consensus expectations at CHF 6.7bn. Dufry published organic growth of 2.9% at end-September, which means a healthy 4.1% in Q3, a significant improvement vs +2.3% in Q2 and +2.1% in Q1. Net new concessions contributed 2.8% in Q3, better than Q2 at +2.3%.By market, we see a significant improvement in Central and...

Fehmi Ben Naamane

Dufry AG : Organic growth expected to pick up in Q3 – Buy recommendation confirmed

>What to expect from Dufry's Q3 2019 earnings - Q3 accounts for a little over half of Dufry’s full-year EBIT, due to the scale of the air traffic in the summer season, which is powered by leisure demand. It is therefore a decisive quarter for the group’s full-year performance. We think that the group’s organic growth will gain further momentum in light of the confirmed recovery in the leisure market in Spain and easier comps; we estimate it at +3.5% in the quarter (vs...

Dufry Ag: 1 director sold

A director at Dufry Ag sold 2,000 shares at 97.457CHF and the significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/30/2019

We are adopting a more upbeat stance on the winter season thanks to capacity increases being markedly less brisk than in previous years, which offsets the impact of a deterioration in demand. IAG (Buy vs Neutral – € 7.3) becomes our Top Pick for the sector. In our view, it is the stock that stands to gain the most from the streamlining of capacity (in the transatlantic network) and boasts the most attractive valuation. - ...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/10/2019

Nous adoptons un ton plus optimiste sur l’hiver grâce à une croissance de l’offre tangiblement moins soutenue que lors des exercices précédents, ce qui permet de tempérer les effets de la dégradation de la demande. IAG (Achat vs Neutre – 7.3 €) devient notre Top Pick sur le secteur. C'est le titre qui, selon nous, bénéficiera le plus de la rationalité de l’offre (vers le transatlantique) et offre la valorisation la plus attractive. - Cf. étude publiée ce jour. - ...

Alfred Glaser ...
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/18/2019

...

Alfred Glaser ...
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Philippe Ourpatian

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/09/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Louis Boujard, CFA
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/31/2019

...

DUFRY AG reduced its risk exposure resulting in an upgrade to Slightly Positive

DUFRY AG (CH), a company active in the Specialty Retailers industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as moderately risky. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date August 2, 2019, the closing price was CHF 86.92 and its potential was estimated at CHF 96.43.

MarketLine Department

Walmart Inc - Strategy, SWOT and Corporate Finance Report

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MarketLine Department

Dufry AG – Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report

Summary Retailing Key Findings Retailing Retailing Reasons To Buys MarketLine Key Highlights Switzerland

Dufry GRP – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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