DUFRY - Avolta AG (DUFRY) Q2 2024 Earnings Call Transcript
2024-07-30 16:02:07 ET
Avolta AG (DUFRY)
Q2 2024 Earnings Conference Call
July 30, 2024 08:30 ET
Company Participants
Xavier Rossinyol - Chief Executive Officer
Yves Gerster - Chief Financial Officer
Conference Call Participants
Chandni Hirani - Barclays
Manjari Dhar - RBC
Joern Iffert - UBS
Jon Cox - Kepler Cheuvreux
Yvonne Chow - Nan Fung Trinity
Presentation
Operator
Ladies and gentlemen, welcome to the Avolta's Q2 Results 2024 Conference Call and Live Webcast. I am Moira [ph], the Chorus Call operator. I would like to remind you that all participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. [Operator Instructions] The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Mr. Xavier Rossinyol, CEO of Avolta. Please go ahead, sir.
Xavier Rossinyol
Thank you very much. Good morning, good afternoon, good evening. Thank you very much for being on this first half 2024 Avolta results presentation. I'm here with Yves Gerster, our CFO. We will first have a presentation and then an open Q&A. We are going to use the presentation we have put in our website this morning. I will be referring to the pages we are going to use.
So we will start in Page 4 with some of the highlights. First, we are presenting a very strong set of first half results. Once more and now it's 6 quarters in a row, we are presenting results that are in line or ahead of expectations, are in line or ahead of our own outlook. We have grew the first quarter and the second quarter an 11% year-on-year, with an organic of 7.1%. EBITDA has grown more than that, almost 16%, thanks to the expansion of the EBITDA margin by 40 basis points on the top range of our outlook, reaching already 9% for the first half of the year. Taking into consideration our seasonality, this is a very good result.
Even more expansion on the equity free cash flow. We can see that not only the top line goes well but the synergies and the cost discipline is reflecting in the EBITDA and in the equity-free cash flow, growing that number more than 30% versus the same period of 2023.
The key business development it's also going very well. We have in this page and it has been published during the semester, the several renewals and new signing of contracts across the board. At the same time, we keep finalizing the active portfolio management and exiting the less or the least profitable concessions we have. That's why the combined number of wins and losses and exits is close to neutral. But with the timeline and the signings of '24, '25 and '26, we believe that number will, of course, remain on the positive side over the near future....
Avolta AG (DUFRY) Q2 2024 Earnings Call Transcript