Half Year 2022 Dufry AG Earnings Call Transcript
Good afternoon, Good morning. Thank you for joining today's call where we are presenting the first half year 2022 results for Dufry. I'm here with our CFO, Yves Gerster. We will present together the key results. I'll be moving right away to Slide #4. The half-year results signals a continued rebound from the pandemic, which is reflected on all relevant lines of the P&L and also the cash flow statement. Let me summarize the financial performance in 3 KPIs. Firstly, we have seen significant recovery of the revenue over last month with a turnover of CHF 2.9 billion, reflecting already a 75.5% of 2019 levels in constant exchange rate. This turnover reflects an organic growth of 147.2% versus 2021.
Secondly, for me, one of the key highlights of today, Dufry is reintroducing EBITDA as a KPI to measure our operating profitability. The metrics follow the former pre-IFRS 16 standard. Yves will elaborate on this in detail on his part of the presentation. But this reintroduced metric, which we call core EBITDA, which reflects fully the concession fees as their
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