Sales at Hellenic Duty Free Shops (Duty Free Shops SA) soared in 2024, and despite the “upheavals” in profitability, the company will distribute a “golden” dividend of 40 million euros to its Swiss shareholders.
The Greek subsidiary of the Avolta group (formerly Dufry) last year managed to capitalize on the increased tourist flows to the maximum, recording a historic high in its sales. The full normalization of the travel industry situation after the pandemic crisis resulted in total sales of Hellenic Duty Free in 2024 reaching 473.81 million euros, up 19% compared to 398.54 million euros in 2023.
Sales in the airports amounted to 330.7 million euros in 2024 compared to 286.8 million euros in 2023, recording an increase of 15.3%, while sales for the group (including the sales of the subsidiary Hellenic Distributions Sole Proprietorship S.A.) amounted to 333.0 million euros compared to 290.4 million euros in 2022 (+14.9).
The United Kingdom ranked first in foreign passengers with 5.3 million departures, an increase of 7.2% compared to last year. Germany remained in second place with 4.9 million passengers with an increase of 10.2%, while the top 5 positions were concluded by Italy, France and Poland with 2.5 million, 1.7 million and 1.4 million departures respectively.
Sales in ports totaled 21 million euros in 2024 compared to 14.8 million euros in 2023, i.e. an increase of 41.9%.
Sales in duty-free shops at border stations amounted to 107 million euros last year compared to 83.2 million euros in 2023, recording an increase of 28.6%.
Dividend of 40 million
Last year’s performance led the company’s board of directors to propose the approval of a dividend to the parent group of 40 million euros, following last year’s dividend payment of 60 million euros from the profits of 2023 and previous years.
