Avolta Ag Unsp/Adr (DUFRY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

I am Moira, the conference call operator. I would like to remind you that all participants will be in listen-only mode and the conference has been recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. Webcast viewers may submit their questions or comments in writing via the relative field. For operator assistance, please press star and 0. 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. Thank you very much. Good morning, good afternoon, good evening, everybody. Thank you for attending this trading update for the first quarter of 2026 of Avolta. My name is Xavier Rossinyol. and I'm here with our CFO Yves Gerster. I'm going to go straight to the highlights in page four of our presentation. We have presented today strong and positive results for the first quarter of 2026. Our core turnover reached 2.9 billion Swiss francs with an organic growth of 4.7%. Without the estimated effect of the Middle East crisis, our organic growth would have been 5.9% on the first quarter of the year. Core EBITDA has reached 190 million, which implies a margin of 6.6%, which is 20 basis points better than last year for the same period. Equity free cash flow has been negative, as it is always on the first quarter of the year because of the seasonality, on $164 million, affected by some net working capital effects due to new operations that Yves will explain in detail in a few minutes. Those are strong and positive results in a context that is, number one, the lowest quarter for us. Number two, with effects on seasonality, like Easter, the Orthodox Easter, the beginning and the en...