Avolta AG Reports Robust Q1 2024 Performance and Positive Yearly Outlook

Avolta AG announced a strong first quarter in 2024 with a notable organic growth of 8.6% and an 18% increase in CORE Turnover compared to Q1 2023. The company's Destination 2027 strategy, focusing on travel retail, convenience, and food & beverage sectors, continues to drive financial success with an EBITDA of CHF 168.6 million, showcasing a margin improvement of 40 basis points year-on-year.

The successful issuance of EUR 500 million Senior Notes and strategic refinancing maneuvers have further bolstered Avolta’s financial position, enhancing its balance sheet and liquidity prospects. Credit ratings have seen positive adjustments by Moody’s and S&P Global, influenced by consistent financial policies and improved operational efficiencies.

CEO Xavier Rossinyol emphasized the promising market conditions and the continued commitment to executing the Destination 2027 strategy, anticipating sustained growth across 2024. The company expects stable or improved financial outcomes, supported by robust travel and consumption trends. Regional performance also exhibited significant growth, especially in Europe and North America, driven by strong leisure demand and strategic contract wins.