INTERNATIONAL. Travel retailer to food & beverage operator Avolta today (11 March) reported strong sales, profit and Equity Free Cash Flow (EFCF) in 2025.
IFRS turnover increased +1.9% to CHF13,983 million (US$17.97 billion) while operating profit rose +18.1% to CHF1,103 million (US$1.4 billion). Core exchange rate (CER) turnover increased +5.9% to CHF13,720 million/US$17.96 billion (+5.5% organic).
EBITDA climbed +4.5% year-on-year to CHF1,324 million/US$1.7 billion (+9.7% CER), representing growth of +5.9% CER, and +5.5% organic. Core EBITDA margin reached 9.7%, +0.3% over 2024.
Organic growth in Q4 rose +5.7%, reflecting robust demand across Avolta’s main markets and channels, the company said.
EFCF increased +14.6% to CHF487 million (US$625.9 million).
Reflecting strong cash generation and low leverage profile, the Board of Directors will propose a dividend of CHF1.15 (US$1.48) per share, representing an increase of +15% year-of-year, at the Annual General Meeting in May.
In addition, Avolta’s Board of Directors has resolved to launch a new share buyback programme for Avolta AG registered shares in an amount of up to CHF225 million (US$289 million) for the purpose of a capital reduction.
This underlined confidence in the business outlook and continued commitment to delivering attractive shareholder returns.
The programme is expected to launch in the near-term and will have a duration of up to 12 months, Avolta said.
In total, including the 2024 share cancellation, it is expected that Avolta will have reduced the share capital by around 10% by the end of the new programme.
Avolta CEO Xavier Rossinyol said, “2025 once again, for the fourth consecutive year, demonstrated Avolta’s ability to deliver overall ahead of our strategic, operational, commercial and financial commitments.
“Through consistent execution and strong cash generation, we continued to strengthen our track record of value creation. We have built a solid foundation, and our focus is now on using this as a platform for future developments, further widening our competitive advantage.
“We will continue to invest in new shops, restaurants and hybrids, future-proofing with our flexible store design. Our approach to integrate business lines, powered by digital innovation, data, AI and Club Avolta, delivers organic turnover growth, margin expansion and increased customer conversion.
“I am particularly proud of the commitment of our teams across all regions and remain thankful for their continued execution. Even within a complex external environment, including the recent conflict affecting parts of the Middle East region, our scale, diversification and clear strategic direction give us confidence as we continue to deliver on Destination 2027 and beyond.”
Strategic growth initiatives realised
Avolta continued to execute its strategic growth initiatives in 2025, strengthening its portfolio, enhancing financial resilience, and investing in its long-term vision.
In Europe and the Middle East, it expanded its presence with new retail, F&B outlets and hybrids at Copenhagen Airport, Denmark; Sofia International Airport, Bulgaria; and at Félix Houphouët Boigny Airport, Côte d’Ivoire, among others.
Eataly was introduced at Amsterdam Airport Schiphol, marking the brand’s debut in the Netherlands.
The Motorways business introduced a sustainable, next-generation service area integrating retail and F&B in a modern, energy-efficient environment.
In North America, many contracts were won, including a series at New York John F. Kennedy International Airport as well as at Florida’s Palm Beach International, Hartsfield Jackson Atlanta International and San Jose Mineta International among others.
In Latin America, the first F&B and hybrid outlets opened in the region, including at Brazil’s São Paulo/Congonhas Airport.
Contracts in multiple locations across Mexico were extended, as well as a win at Santiago de Chile International Airport, Chile, reinforcing Avolta’s leadership in the region.
In Asia Pacific, a first-in-a-generation duty-free concession was secured at Shanghai Pudong International Airport in Mainland China, as well as entry into Japan’s Kansai International Airport.
Customer engagement and data capabilities continued to advance. Club Avolta closed its first year with more than 16 million members worldwide and a loyalty transaction every two seconds.
{On 30 September 2024 at the TFWA World Exhibition in Cannes, Avolta CEO Xavier Rossinyol unveiled the travel retailer’s new consumer loyalty programme Club Avolta, describing it as “revolutionary” in terms of its benefits to travelling consumers. }
Exposure to region limited but Middle East situation being closely monitored
Avolta confirmed its organic growth target of +5%-7% per annum, saying it is committed to delivering +20-40bps of Core Ebitda margin improvement and +100-150bps EFCF conversion per annum.
At current exchange rates, 2026 currency translation is expected to be -5%. “While Avolta’s direct exposure to the Middle East is limited, the company is mindful of the most recent developments in the region and continues to actively monitor the situation,” Avolta said. ✈
