INTERNATIONAL. Travel experience company Avolta today (31 July) reported first-half results, with core turnover rising +7.1% year-on-year at constant exchange rates to CHF6,613 million (US$8,139 million).
Reported turnover hit CHF6,734 million (US$8,288 million); core turnover noted above excludes fuel sales from the motorway business.
Organic growth in the period reached +5.7%, while like-for-like growth was +4.9%, driven by “strong performance across Europe, the Middle East, Africa, Asia Pacific and Latin America”, said an Avolta statement. Performance in North America remained broadly in line with H1 2024 due to softening passenger traffic in the USA.
Duty-free and duty-paid sales represented around two-thirds of the business in the period, with food & beverage accounting for one-third (see chart below).
Core EBITDA grew +7.7% to reach CHF612 million (US$753 million), with a margin of 9.3%, up 30 basis points year-on-year. In Q2, the EBITDA margin was 11.7%, up 40 points year-on-year.
Equity Free Cash Flow was CHF216 million (US$266 million), which Avolta said was “in line with expectations and with the seasonality of the business”.
CEO Xavier Rossinyol said, “We are very pleased with the performance of the business over the first half, especially with the softer backdrop in North America and challenges in the Middle East. Our organic growth of +5.7% is testimony to the resilience of our strategy and diversified portfolio. Across the regions over recent weeks, we have observed a more stable environment. We look forward to the second half with cautious optimism and reaffirm our outlook.”
Business development contributed to the H1 performance with net new concessions growth of +0.8%. In Europe, Middle East and Africa, the region increased its footprint in Denmark with five new F&B stores and saw the launch of new F&B concepts Alembic in the UK, LOAF at Amsterdam Airport Schiphol in the Netherlands and Früh bis Spät at Cologne Bonn Airport, Germany.
In North America, Avolta landed two additional contracts at New York JFK Airport, including a ten-year deal to upgrade the T5 dining experience. The company also hailed the newly refurbished Vancouver and Toronto duty-free stores, among others.
In Latin America, Avolta secured a nine-year retail contract extension across four major Mexican airports, as well as a five-year agreement to expand operations at Guadalajara International Airport, Mexico’s third-busiest airport.
In Asia Pacific, the company boosted its presence to nine stores at Shanghai Pudong Airport, China.
The company said that it “continues to actively evaluate its concession portfolio to ensure long-term strategic alignment and financial efficiency. In selected cases, this may include the early termination or restructuring of concession agreements under mutually agreed financial terms.”
Avolta also noted how digital innovation remains a key pillar of its strategy. Loyalty programme Club Avolta grew +30% in the first half of 2025, reaching over 13 million members.
July organic sales growth has been in line with the first half, added the company. ✈
