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Swiss travel retail operator running airport and travel-hub duty-free, food and beverage outlets worldwide, formerly Dufry.
Swiss travel retail operator running airport and travel-hub duty-free, food and beverage outlets worldwide, formerly Dufry.
Holds multi-year concessions to operate shops, restaurants and cafes in airports, motorway services and rail stations, paying the landlord a share of sales or a guaranteed minimum and keeping the rest, so concession renewals and passenger numbers decide results. Through its merger with Autogrill, food and beverage became a major second line beside duty-free.
In one line: A Swiss Duty Free Americas/Hudson Group hybrid, but global.
Moat: narrow (scale, distribution, installed base). Long-term airport concession contracts and global scale in sourcing/logistics for travel retail.
Headquarters: Basel, Switzerland · Founded: 1865 · Employees: 69,278
Size Avolta (AVOL.SW) is a Switzerland Consumer Staples company (Discount Stores) with a market value of $8.03B, the 38th largest of 158 Switzerland companies the cockpit tracks. Shares closed at CHF 47.86 on 6 Nov 2026.
Performance Over six months the shares gained 8.2%, against +7.7% for the median peer and +11.6% for the Switzerland market (cap-weighted) — 4th highest of 8 in its peer set.
Growth Revenue fell 1.3% over the last twelve months (peer median +3.6%); the operating margin is 6.8% (peer median 9.8%).
Valuation It trades at 13.8× forward earnings against a peer median of 16.6× (4th cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +40%, so the hurdle is -42 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.6 points above its cost of capital (5.0% WACC).
Next results Next results expected around 10 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CHF 13.8B | CHF 14.0B | CHF 13.7B | CHF 12.8B | CHF 6.88B |
| Revenue growth | — | +2% | +7% | +86% | — |
| Gross profit | CHF 4.16B | CHF 4.24B | CHF 4.26B | CHF 3.89B | CHF 2.08B |
| EBITDA | CHF 2.83B | CHF 2.91B | CHF 2.62B | CHF 2.23B | CHF 1.44B |
| Net income | CHF 207M | CHF 199M | CHF 103M | CHF 87.3M | CHF 58.2M |
| Free cash flow | CHF 2.40B | CHF 2.40B | CHF 2.04B | CHF 1.79B | CHF 1.28B |
| Capital expenditure | CHF 480M | CHF 510M | CHF 483M | CHF 441M | CHF 113M |
| Total debt | n/a | CHF 11.5B | CHF 11.9B | CHF 11.2B | CHF 6.64B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Avolta AVOL.SW | $8.03B | +8% | -1% | 7% | 13.8× | -1.6% |
| WH Smith SMWH.L | $851M | -10% | -31% | 8% | 11.0× | 9.1% |
| SSP SSPG.L | $1.87B | +17% | +5% | 7% | 13.9× | 2.6% |
| China Tourism Group Duty Free 601888.SS | $15.9B | -17% | -1% | 10% | 24.7× | 8.6% |
| HtlShilla 008770.KS | $985M | -46% | +1% | 3% | 15.1× | -7.6% |
| Lotte Shopping 023530.KS | $1.87B | -33% | +1% | 5% | 7.9× | 5.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AVOL.SW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.1% | +8.0% | highest of 8 |
| 6-month return | +8.2% | +7.7% | 4th highest of 8 |
| Distance from 52-week high | -14.2% | -11.7% | 4th lowest of 8 |
| Revenue growth (TTM) | -1.3% | +3.6% | 2nd lowest of 8 |
| Operating margin | 6.8% | 9.8% | 2nd lowest of 8 |
| Forward P/E | 13.8× | 16.6× | 4th cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | 0.9% | 2nd least demanding of 8 |
| Growth delivered (Del g) | +40.3% | +4.8% | highest of 8 |
| Hurdle (Req g minus delivered) | -42.0 pp | -3.9 pp | least demanding of 8 |
| ROIC minus cost of capital | +0.6 pp | +2.3 pp | 3rd lowest of 8 |
| EV / EBITDA | 6.4× | 11.8× | 2nd cheapest of 7 |
| Net debt / EBITDA | 4.0× | 2.9× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Avolta AVOL.SW | Switzerland | $8.03B | +8% | -1% | 7% | 13.8× | -1.6% | +40.3% |
| Five Below FIVE | United States | $13.2B | +8% | +26% | 15% | 23.7× | 8.1% | +19.4% |
| China Tourism Group Duty Free 601888.SS | China | $15.9B | -17% | -1% | 10% | 24.7× | 8.6% | +0.4% |
| B&M European Value Retail BME.L | United Kingdom | $3.79B | +71% | +4% | 8% | 12.9× | -0.6% | +3.8% |
| Lagardere MMB.PA | France | $2.92B | +4% | +4% | 7% | 8.7× | -5.5% | +16.0% |
| Dollar Tree DLTR | United States | $24.6B | +39% | -8% | 11% | 19.1× | 0.1% | -5.3% |
| Carmila CARM.PA | France | $2.40B | -7% | -1% | 60% | 8.2× | 4.3% | +5.5% |
| Dollar General DG | United States | $29.5B | +18% | +5% | 6% | 16.6× | 0.9% | +4.8% |