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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Dufry AG    DUFN   CH0023405456

DUFRY AG

(DUFN)
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Dufry : Britain says travellers to EU will have duty-free shopping after no-deal Brexit

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09/10/2019 | 02:42am EDT
A Buy Paris Duty Free shop is seen at the Paris Charles de Gaulle Airport in Roissy

LONDON (Reuters) - Britain on Tuesday said there would be a return of duty-free shopping for travellers to the European Union if the country leaves the bloc without a deal.

Those going to the EU won't have to pay UK excise duties on cigarettes and alcohol in a no-deal scenario, Britain's Treasury said, adding that a bottle of wine bought at London's Heathrow airport could be up to 2.23 pounds cheaper.

"As we prepare to leave the EU, I'm pleased to be able to back British travellers," finance minister Sajid Javid said in a statement.

"We want people to enjoy their hard-earned holidays and this decision will help holidaymakers' cash go that little bit further." 

British Prime Minister Boris Johnson has vowed to take Britain out of the EU with or without a deal on October 31.

Lawmakers who are concerned about the economic fallout from a no-deal Brexit have voted to force Johnson to seek a delay to avoid leaving without a deal, but he has said that he will not countenance an extension.

Duty-free shopping is already allowed for those travelling to non-EU countries, but was stopped for EU travellers when the bloc's Single Market was introduced.

(Reporting by Alistair Smout; editing by Kate Holton)

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Financials (CHF)
Sales 2019 8 920 M
EBIT 2019 540 M
Net income 2019 84,0 M
Debt 2019 3 169 M
Yield 2019 4,64%
P/E ratio 2019 66,0x
P/E ratio 2020 40,1x
EV / Sales2019 0,84x
EV / Sales2020 0,83x
Capitalization 4 324 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 101,31  CHF
Last Close Price 87,00  CHF
Spread / Highest target 51,7%
Spread / Average Target 16,4%
Spread / Lowest Target -2,30%
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Managers
NameTitle
Julián Díaz González Chief Executive Officer & Director
Juan Carlos Torres Carretero Chairman
Eugenio Miguel Andrades Yunta Chief Executive Officer-Operations & Strategy
Andreas Schneiter Chief Financial Officer
Luis Andrés Holzer Neumann Vice Chairman
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