Avolta AG: Avolta Wins Significant Tender at John F. Kennedy International Airport - another large Contract Award of 2024 in North America

Avolta AG / Key word(s): Miscellaneous
Avolta Wins Significant Tender at John F. Kennedy International Airport - another large Contract Award of 2024 in North America

27.11.2024 / 06:30 CET/CEST

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In partnership with JFK Millennium Partners, Avolta companies Hudson and Dufry will set a new standard for travel retail in North America through the development of more than 2,600 m² of reimagined space with an 18-year contract in JFK's new, state-of-the-art terminal set to open in early 2026. Combined with earlier announced wins and renewals, this new win further strengthens Avolta's leadership in the US travel retail and F&B market.

Avolta companies Hudson and Dufry have been awarded a new contract to operate numerous duty-free, travel convenience, and specialty retail stores, as well as hybrid concepts, in John F. Kennedy International Airport's (JFK) Terminal 6 by JFK Millennium Partners (JMP), the company selected by the Port Authority of New York & New Jersey to build and operate the new USD 4.2 billion terminal, part of the USD 19 billion transformation of JFK.

Avolta will bring a strong sense of place to T6 through an immersive, New York City-inspired travel retail program that will allow JFK's diverse visitors an opportunity to experience all five of the city's boroughs, with a carefully crafted focus on products from local entrepreneurs alongside globally recognized brands.

"Through this new contract, which is our largest year-to-date in North America, Avolta will redefine the travel experience at one of the busiest airports in the USA - raising the bar for travel retail worldwide and expanding our leadership in US travel retail and F&B," said Avolta CEO Xavier Rossinyol. "Aligned with our Destination 2027 strategy, we have put the traveler at the center to deliver a travel experience revolution. We are proud of our partnership with JFK Millennium Partners, the Port Authority of New York & New Jersey, and the exceptional local business owners who embraced our vision and will bring it to life. Stay tuned for expected further news from the Big Apple."

Currently under construction, Terminal 6 is being developed with the first gates opening in 2026. When completed, annual enplanements at Terminal 6 are expected to reach approximately 4.3 million passengers, supporting the Port Authority's vision to grow and transform JFK airport into a modern global gateway. As part of its new duty-free contract, Dufry will develop an expansive duty-free store. Drawing its inspiration from New York City's distinctive Union Square, this unique shopping experience will span nearly 1,700 m² of retail space across four distinct areas, capturing the vibrant energy of New York City. The space will include a Prohibition-style speakeasy, a hybrid concept and the first of its kind in any U.S. airport.

Under its new duty-paid contract, Hudson will open over 900 m² of travel convenience and specialty retail that provides travelers with a mix of sought-after essentials and exciting products from local brands that embody the spirit of New York, further bringing a sense of place to the terminal that will resonate with international travelers.

In 2024, Avolta has announced significant contract wins throughout North America, reaffirming its market leadership in travel retail and travel food and beverage, including in Phoenix Sky Harbor International Airport, California's Sacramento International Airport and John Wayne Airport, Pittsburgh International Airport, and Salt Lake City International Airport.

Avolta's Q3 2024 results marked its seventh consecutive quarter of strong growth, as the company continues to successfully execute its Destination 2027 strategy. The company confirms its medium-term targets and reaffirms its positive outlook, having delivered another set of strong results across all KPIs for the first nine months of 2024. Avolta confirms its CORE turnover growth target of 5%-7% p.a. on average at constant exchange rates in line with its Destination 2027 strategy. Avolta is committed to deliver +20-40bps of CORE EBITDA margin improvement p.a. as it continues to increase its operational efficiency, and +100-150bps EFCF conversion and remains on track for 2024 and 2025 and the medium term.

About JFK Millennium Partners
Terminal 6 is an award-winning public-private partnership between the Port Authority of New York and New Jersey and JFK Millennium Partners - a consortium that includes Vantage Group, an industry leading investor, developer and manager of award-winning global airport projects, including LaGuardia Airport's Terminal B; American Triple I, a certified minority-owned investor, owner, developer and manager of infrastructure assets; RXR, an innovative New York real estate investor and developer; and JetBlue Airways, New York's hometown airline. When complete, Terminal 6 will connect seamlessly with Terminal 5 to create an anchor terminal on JFK International Airport's north side.

For further information:

CONTACT

Cathy Jongens	Rebecca McClellan
Director Corporate Communications	Global Head Investor Relations
Phone: [phone]	Phone: [phone]
[e-mail]	[e-mail]

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End of Media Release

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Language:	English
Company:	Avolta AG
	Brunngässlein 12
	4010 Basel
	Switzerland
Phone:	[phone]
E-mail:	[e-mail]
Internet:	https://www.avoltaworld.com/
ISIN:	CH0023405456
Listed:	SIX Swiss Exchange
EQS News ID:	2038883

End of News	EQS News Service

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2038883 27.11.2024 CET/CEST