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

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Fehmi Ben Naamane

Dufry AG : Good operating performance in Q1 2019 – Buy rating reiterated

>Slight acceleration in organic growth in Q1 - Dufry’s Q1 earnings release is reassuring in a difficult stock market climate for the stock. The group announced organic growth of 2.0% in the quarter (+5.6% stripping out South America), a slight acceleration from the 1.8% recorded in Q4 2018 and a second quarter of positive organic growth after the low point in Q3. On a reported basis, group revenues therefore grew 3.4% y1eo1ey. There were no surprises in the different re...

Fehmi Ben Naamane

Dufry AG : Bonne performance opérationnelle au T1 2019 – Achat réitéré

>Légère accélération de la croissance organique au T1 - La publication de Dufry au titre de son T1 rassure dans un contexte boursier très difficile pour le titre. Le groupe annonce une croissance organique à 2.0% sur le trimestre (+5.6% hors Amérique du Sud), en légère accélération par rapport au T4 2018 à 1.8% et marquant un deuxième trimestre de croissance organique positive après le point bas du T3. En publié le CA groupe a ainsi crû de 3.4% yoy. Pas de surprises p...

Jelena Sokolova

Morningstar | Dufry's 1Q Sales Solid, but Concession Inflation Weighs; Shares Undervalued

We are maintaining our fair value estimate for narrow-moat Dufry after the company reported first-quarter results. Revenue grew 3.4% in the quarter versus our full-year expectation of 4%, with 2% organic growth on top of strong comparables last year (7.1% organic growth in the first quarter of 2018). Like-for-like growth remained negative (down 1.3%) while new concessions added 3.3% and currency had a positive impact of 1.4%. The main drag on performance continued to be South America with a 10.8% organic revenue decline, driven by the difficult situation in Brazil and Argentina and tough comp...

Dufry AG - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Dufry AG - September 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Dufry AG - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

LGD Assessment: Dufry AG

LGD assessment - annual update

Dufry AG - March 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Fehmi Ben Naamane

Dufry AG : Good operating performance in Q1 2019 – Buy rating reiterated

>Slight acceleration in organic growth in Q1 - Dufry’s Q1 earnings release is reassuring in a difficult stock market climate for the stock. The group announced organic growth of 2.0% in the quarter (+5.6% stripping out South America), a slight acceleration from the 1.8% recorded in Q4 2018 and a second quarter of positive organic growth after the low point in Q3. On a reported basis, group revenues therefore grew 3.4% y1eo1ey. There were no surprises in the different re...

Fehmi Ben Naamane

Dufry AG : Bonne performance opérationnelle au T1 2019 – Achat réitéré

>Légère accélération de la croissance organique au T1 - La publication de Dufry au titre de son T1 rassure dans un contexte boursier très difficile pour le titre. Le groupe annonce une croissance organique à 2.0% sur le trimestre (+5.6% hors Amérique du Sud), en légère accélération par rapport au T4 2018 à 1.8% et marquant un deuxième trimestre de croissance organique positive après le point bas du T3. En publié le CA groupe a ainsi crû de 3.4% yoy. Pas de surprises p...

Jelena Sokolova

Morningstar | Dufry's 1Q Sales Solid, but Concession Inflation Weighs; Shares Undervalued

We are maintaining our fair value estimate for narrow-moat Dufry after the company reported first-quarter results. Revenue grew 3.4% in the quarter versus our full-year expectation of 4%, with 2% organic growth on top of strong comparables last year (7.1% organic growth in the first quarter of 2018). Like-for-like growth remained negative (down 1.3%) while new concessions added 3.3% and currency had a positive impact of 1.4%. The main drag on performance continued to be South America with a 10.8% organic revenue decline, driven by the difficult situation in Brazil and Argentina and tough comp...

Jelena Sokolova

Dufry's 1Q Sales Solid, but Concession Inflation Weighs; Shares Undervalued

We are maintaining our fair value estimate for narrow-moat Dufry after the company reported first-quarter results. Revenue grew 3.4% in the quarter versus our full-year expectation of 4%, with 2% organic growth on top of strong comparables last year (7.1% organic growth in the first quarter of 2018). Like-for-like growth remained negative (down 1.3%) while new concessions added 3.3% and currency had a positive impact of 1.4%. The main drag on performance continued to be South America with a 10.8...

Fehmi Ben Naamane

Dufry AG : Figures in line, confident message on 2019

>Q1 results broadly in line with expectations (slightly ahead on organic growth) - Group sales reached CHF 1,882m in Q1, up 3.4% y1eo1ey, broadly in line with estimates (ODDO BHF estimate CHF 1,863m). Organic growth amounted to 2.0% (vs ODDO BHF at 2.1%e, and the consensus at 1.8% and compared to +1.8% in Q4), to which like-for-like growth contributed -1.3%, while net new concessions added +3.3%.Growth was mainly driven by Asia-Pacific and the Middle East with orga...

1 director sold

A director at Dufry Ag sold 12,493 shares at 101.990CHF and the significance rating of the trade was 100/100. 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 mem...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Alfred Glaser ...
  • Anis Zgaya
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Samantha Jeary
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/14/2019

...

Alfred Glaser ...
  • Anis Zgaya
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Samantha Jeary
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/05/2019

...

Alexandre Iatrides ...
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe Chaput
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/15/2019

The group is in the midst of a challenging reorganisation phase which will likely continue to hurt profitability and visibility. The “fleet of ships” strategy is gradually evolving, but the failure of the MO + Alstom deal represents a sizeable setback. We also think that the underlying issues, such as ROCE levels, have not been addressed: we are still at Neutral, and are lowering our target price from € 110 to € 100. See report published last evening. - ...

DUFRY AG sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of DUFRY AG (CH), active in the Specialty Retailers industry. As regards its fundamental valuation, the title now shows 2 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date April 30, 2019, the closing price was CHF 99.54 and its target price was estimated at CHF 89.14.

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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