March 12, 2020 / 6:12 AM / a month ago

BRIEF-Dufry Says COVID-19 Impacted Its Operations

March 12 (Reuters) - Dufry AG:

* IN 2019, TURNOVER GREW BY +1.9%, REACHING CHF 8,848.6 MILLION VERSUS CHF 8,684.9 MILLION IN 2018

* IN 2019, GROSS PROFIT INCREASED TO CHF 5,323.2 MILLION FROM CHF 5,195.7 MILLION IN PREVIOUS YEAR

* FY ADJUSTED OPERATING PROFIT (ADJUSTED EBIT) REACHED CHF 767.7 MILLION, WITH RESPECTIVE MARGIN AMOUNTING TO 8.7% IN 2019

* ADJUSTED NET PROFIT REACHED CHF 349.3 MILLION IN 2019, WHILE RESPECTIVE ADJUSTED EPS WAS CHF 7.00

* GROUP ORGANIC GROWTH PERFORMANCE SAW A FURTHER ACCELERATION IN JANUARY 2020

* IN FEBRUARY PERFORMANCE WAS NEGATIVE REACHING -7.3%

* COVID-19 IMPACTED OUR OPERATIONS WHERE WE HAVE EXPOSURE TO ASIAN CUSTOMERS AS WELL AS IN LOCATIONS DIRECTLY IMPACTED BY PHENOMENA

* IN FEBRUARY 2020, ORGANIC GROWTH PERFORMANCE WAS NEGATIVE REACHING -7.3%

* IMPLEMENTED AN ACTION PLAN TO SECURE CASH FLOW GENERATION, DRIVE SALES AND SAFEGUARD PROFITABILITY

* INITIATIVES ARE EXPECTED TO GENERATE SAVINGS OF CHF 60.0 MILLION ON A CONSOLIDATED FULL-YEAR BASIS AT ADJUSTED OPERATING PROFIT LEVEL

* IN FEBRUARY 2020, EUROPE AND AFRICA PERFORMED SLIGHTLY NEGATIVELY; ASIA PACIFIC AND MIDDLE EAST REPORTED NEGATIVE GROWTH AT DOUBLE DIGIT LEVEL

* EXPECTS TO REACH A NEGATIVE, SINGLE DIGIT ORGANIC GROWTH PERFORMANCE FOR FULLY-YEAR 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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