Avolta AG / Key word(s): Quarter Results AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR Building on a transformative 2023, Avolta continues to deliver strong organic growth in Q1 of 8.6% and a further step-up across all financial indicators. Avolta's Destination 2027 strategy is yielding results, supported by an enhanced customer experience and strong execution. Avolta delivers growth with resilience. HIGHLIGHTS:
Xavier Rossinyol, CEO of Avolta, stated: "The first quarter of 2024 not only marks a strong beginning of our first full calendar year as Avolta but supports our outlook for 2024 and beyond. We are pleased to report that our strong trajectory continues into Q1 2024, underlining our confidence as we head into the summer season, with KPIs including an organic growth rate of 8.6%, an EBITDA margin of 6.1% and uninterrupted growth trends across the remainder of 2024 and beyond. RECENT DEVELOPMENTS AND OUTLOOK: Over the medium-term, the company confirms its previously announced CORE Turnover growth target of 5%-7% per year on average at constant exchange rates. This medium-term growth is underpinned by Avolta's global diversification, which in turn bolsters its resilience. Beyond, Avolta is committed to deliver +20-40bps of CORE EBITDA margin improvement p.a. as it continues to increase its operational efficiency, and +100bps-150bps EFCF conversion, with a c. 4% CAPEX on CORE Turnover p.a. As part of the Dufry-Autogrill business combination, Avolta reconfirms its target of achieving full run rate synergies of CHF 85 million in 2024, and integration related costs to reach CHF 25 million during the year. Assuming current exchange rates remain stable for the remaining part of 2024, Avolta expects 2024 currency translation to be at the lower-end of the previously communicated -2% to -3% range.
Avolta's CORE EBITDA for the first quarter 2024 came in at CHF 168.6 million with an EBITDA margin of 6.1%, +40bps YoY, driven by commercial performance, productivity increases and earlier than expected synergy execution from the business combination. REGIONAL PERFORMANCE AND BUSINESS DEVELOPMENT Q1 2024
IFRS/CORE TURNOVER RECONCILIATION
Europe, Middle East and Africa (EMEA)
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End of Inside Information |
Language: | English |
Company: | Avolta AG |
Brunngässlein 12 | |
4010 Basel | |
Switzerland | |
Phone: | +41612664444 |
E-mail: | Headoffice@dufry.com |
Internet: | https://www.avoltaworld.com/ |
ISIN: | CH0023405456 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1904373 |
End of Announcement | EQS News Service |
1904373 16-May-2024 CET/CEST