Avolta reveals “strong financial performance” for the first half of 2025
The company’s first-half results indicated a core turnover increasing 7.1% year-on-year at constant exchange rates to CHF6,613 million, approximately US$8,139 million
Avolta today (July 31) reported first half results for 2025, with core turnover increasing 7.1% year-on-year – at constant exchange rates – to CHF6,613 million, approximately US$8,139 million.
Confirming its medium-term outlook, the company also noted a CORE EBITDA margin of 9.3%, EPS growth of +28.7% and CHF216 million (US$266 million) Equity Free Cash Flow (ECFE), “in line with expectations and in line with the seasonality of the business”.
Organic growth increased by 5.7%. In Q2, organic growth was up 6.0%. According to Avolta, “this momentum underscores our strong and resilient business performance, driven by sustained growth in passenger numbers and spend per passenger”. CORE EBITDA increased 9.3% in H1 2024 while for Q2, the EBITDA margin was 11.7%.
“These KPI (key performance indicators) improvements reflect management’s relentless focus on the agile execution of Avolta’s strategy, effectively merging growth objectives with a focus on cost and efficiency optimization,” the financial report stated.
H1 2025 Key Operational Highlights
According to the report, the first half of 2025 was marked by “continued operational improvements, successful business development, and welcome recognition of our industry leading position”.
Avolta delivered solid organic growth of +5.7% and like-for-like growth of +4.9% in the first half of 2025, driven by strong performance across Europe, the Middle East, Africa, Asia Pacific, and Latin America.
The performance in North America remained broadly in line with the prior year due to softer passenger traffic in the USA. This growth is said to “reflect the continued momentum of our strategic transformation, driven by consumer-centric innovation and digital initiatives that are increasing spend per passenger”. It also underscores the strength of Avolta’s diversified portfolio across geographies, channels, and both F&B and retail concepts.
Business development contributed with net new concessions growth of +0.8%. In Europe, Middle East and Africa, the region increased its footprint in Denmark with five new F&B stores and saw the launch of new F&B concepts Alembic in the United Kingdom, LOAF at Amsterdam Schiphol Airport in the Netherlands and Früh bis Spät in Germany’s Cologne Bonn Airport.
In North America, the company continues to grow its commercial footprint, with two additional landmark contracts at JFK International airport, including a ten-year deal to refurbish the T5 dining experience. The region saw key openings at the newly refurbished Vancouver and Toronto duty-free stores, among others.
In Latin America, the company secured a nine-year retail contract extension across four major Mexican airports, as well as a five-year agreement to expand operations at Guadalajara International Airport, Mexico’s third busiest airport.
In Asia Pacific, the company boosted its presence to nine stores at The People’s Republic of China’s Shanghai Pudong Airport. The company continues to actively evaluate its concession portfolio to ensure long-term strategic alignment and financial efficiency. “In selected cases, this may include the early termination or restructuring of concession agreements under mutually agreed financial terms, such exceptional transactions are included under M&A and Other,” the report stated.
Avolta also noted its recognition for excellence, with awards including 13 Airport Food & Beverage Awards and best overall restaurateur at the Airport Experience Awards. Newsweek ranked six of HMSHost’s outlets in its top ten US airport restaurants for 2025, while innovative dining concept Hungry Club placed in the top three European airport restaurants. Zayed International Airport in Abu Dhabi received a Platinum Award at the London Design Awards.
Digital innovation remains a key pillar of Avolta’s strategy. “A clear example is our loyalty program, Club Avolta, which grew by 30% in the first half of 2025 reaching over 13 million members,” the company added.
Xavier Rossinyol, CEO of Avolta, said, “We are very pleased with the performance of the business over the first half, especially with the softer backdrop in North America and challenges in the Middle East. Our organic growth of +5.7% is testimony to the resilience of our strategy and diversified portfolio. Across the regions over recent weeks, we have observed a more stable environment. We look forward to the second half with cautious optimism and reaffirm our outlook.”
