Adhoc: Avolta AG: Avolta 9M 2025 delivers another set of strong results with record EFCF and deleverages to 1.9x

Avolta AG / Key word(s): 9 Month figures
Avolta 9M 2025 delivers another set of strong results with record EFCF and deleverages to 1.9x

30-Oct-2025 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

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AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

Avolta maintains a strong performance with 9M 2025 +5.4% organic growth, 10.2% CORE EBITDA margin and CHF 503m EFCF. October organic growth +6.0% underpins the company's confidence in achieving its outlook.

9M 2025 HIGHLIGHTS

Strong financial performance

• Turnover reported CHF 10,609m, CORE CHF 10,407m
• CORE revenue growth +5.8% CER¹, organic growth +5.4%
• CORE EBITDA CHF 1,065m, margin 10.2%, +30bps YoY
• EFCF record of CHF 503m, EFCF conversion of 47.2%

Shareholder value creation consistent with shareholder value led capital allocation policy

• Leverage 1.9x - reaching target leverage band of 1.5-2.0x
• Share buyback of 3.2m shares/CHF 129m of the up to CHF 200m program²

Medium-term targets confirmed

• Expected October organic growth of +6.0% reflects encouraging inflection in North America, and increases confidence for the full year

9M 2025 KEY FINANCIAL HIGHLIGHTS

Turnover reached CHF 10,609m with CORE turnover of CHF 10,407m, +5.8% CER and +5.4% on an organic basis. In Q3, CORE turnover grew +3.8% CER and +4.8% organic. For October 2025, the group expects to generate organic growth of +6.0% YoY, with some good signs in North America.

CORE EBITDA came in at CHF 1,065m with an EBITDA margin of 10.2%, +30 bps YoY. For Q3, the EBITDA margin was 11.9%, up +37bps YoY, despite continued slower sales growth in North America and thanks to cost and productivity improvements.

EFCF amounted to CHF 503m (+13.0% YoY), with Q3 EFCF totalling CHF 287m, +23.7% YoY and comfortably ahead of expectations.

Avolta achieved these strong YoY results, despite significant FX headwinds affecting reported results.

The group's financial net debt decreased to CHF 2,445 million as at end-September 2025, implying a leverage (net debt/CORE EBITDA) of 1.9x, despite the purchase of shares totalling CHF 129m under its 2025 share buyback program during the nine-month period (amount increasing to CHF167m as at the 28th of October). In October, Avolta extended the maturity of its revolving credit facility (RCF) by one year to 2030.

Q3 2025 KEY OPERATIONAL HIGHLIGHTS

Avolta continued its global growth and geographical diversification in Q3, securing new contracts and entering new markets. This includes the entry into Japan through a new F&B concession at Kansai International Airport, a key milestone in Asia-Pacific growth. In North America, Avolta secured long-term retail and dining contracts at major airports including Atlanta, San José, Dallas Fort Worth, and San Antonio, enhancing presence in important travel hubs. Additionally, as announced yesterday, Avolta won the long-term duty-free contract at JFK International Airport's Terminal 8, marking the eighth significant contract win at the airport over the past year.

In Q3, the company marked one-year of its global loyalty program, Club Avolta, now counting more than 15 million members, and launched several partnerships, all with the target of providing additional advantages to customers and increasing the potential of data. Over time this increased access to data is expected to boost Avolta's financial performance.

Avolta's focus on people, innovation, and sustainability was reflected through the highest industry recognition of the 2025 Frontier Awards, receiving multiple honors including Future of Retail award, as well as Best Specialty Concept, People & Planet award, Influential Woman in Travel Retail award and Team of the Year award.

Xavier Rossinyol, CEO of Avolta: "9M revenues are in line with expectations. As a seasonal business, our Q3 revenues were affected by a strong basis of comparison, specifically in Europe and Argentina. As we entered Q4 we saw an acceleration of organic growth to +6.0% YoY in October, and positive growth in North America.

Furthermore, the increase in the 9M EBITDA margin (+30bps to 10.2%) reflects an active approach to cost and productivity, while the record EFCF performance and continued deleveraging demonstrates our financial discipline and highlights our ability to achieve our targets despite ongoing global volatility. Overall, this underscores the power of our agile business model and our deep customer connections. We continue our commitment to our capital allocation policy, growing the business, deleveraging, and delivering strong returns to shareholders."

OUTLOOK

Avolta confirms its organic growth target of 5%-7% p.a. and is committed to delivering +20-40bps of CORE EBITDA margin improvement and +100-150bps EFCF conversion p.a.. At current exchange rates, 2025 currency translation is expected to be -3%.

9M 2025 KEY FINANCIAL TABLES

CORE GROWTH COMPONENTS

		9M 2025 vs 9M 2024		Q3 2025 vs Q3 2024
Like for Like		+4.0%		+2.7%
Net new concessions		+1.4%		+2.1%
Organic Growth		+5.4%		+4.8%
M&A and Others3		+0.5%		-1.0%
Growth (CER)4		+5.8%		+3.8%
FX Impact		-3.5%		-4.7%
Reported Growth		+2.3%		-0.9%

REGIONAL PERFORMANCE 9M 2025

CORE Turnover (CHFm)		Q3 2025		Q3 2024		Growth vs 2024		FX Impact vs 2024		Organic Growth vs 2024
Europe, Middle East and Africa		2,186		2,156		+1.4%		-2.1%		+6.9%
North America		1,022		1,109		-7.8%		-5.2%		-0.1%
Latin America		389		392		-0.8%		-4.6%		+6.2%
Asia Pacific		197		143		+37.8%		-5.5%		+6.1%
Avolta Group5		3,794		3,830		-0.9%		-3.5%		+4.8%
CORE Turnover (CHFm)		9M 2025		9M 2024		Growth vs 2024		FX Impact vs 2024		Organic Growth vs 2024
Europe, Middle East and Africa		5,524		5,268		+4.9%		-2.1%		+8.3%
North America		3,068		3,242		-5.4%		-5.2%		-0.2%
Latin America		1,190		1,159		+2.7%		-4.6%		+7.4%
Asia Pacific		625		425		+47.1%		-5.5%		+5.4%
Avolta Group5		10,407		10,172		+2.3%		-3.5%		+5.4%

IFRS/CORE TURNOVER RECONCILIATION

Q3 2025 (CHFm)		Turnover IFRS		Fuel Sales Adjustments		Turnover CORE
Europe, Middle East and Africa		2,267		-81		2,186
North America		1,022				1,022
Latin America		389				389
Asia Pacific		197				197
Avolta Group		3,875		-81		3,794
9M 2025 (CHFm)		Turnover IFRS		Fuel Sales Adjustments		Turnover CORE
Europe, Middle East and Africa		5,726		-202		5,524
North America		3,068				3,068
Latin America		1,190				1,190
Asia Pacific		625				625
Avolta Group		10,609		-202		10,407

¹CER Constant Exchange Rate
²CHF 129m is cash outflow related to the share buyback, transactional amount totaled CHF 132m as per the share buyback report on IR Website
³Includes selective restructuring and exits
⁴CER Constant Exchange Rate
⁵Including Distribution Centers with CHF 30m for Q3 2024, and CHF 78m for 9M 2024

For further information:

CONTACT

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

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End of Inside Information

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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:	2220844

End of Announcement	EQS News Service

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2220844 30-Oct-2025 CET/CEST