AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
In accordance with Avolta’s reinforced capital allocation policy announced on 31 October 2024, the company’s Board of Directors has resolved to launch a share buyback program for the purpose of the subsequent cancellation of up to CHF 200 million worth of Avolta AG registered shares. This strategic initiative aims to enhance shareholder value in line with Avolta’s Destination 2027 strategy.
The buyback is expected to start before the end of January 2025 and to end no later than 31 December 2025. By repurchasing shares at current levels, the company aims to efficiently return additional capital to shareholders. The repurchased shares will be cancelled, increasing Avolta’s per share metrics.
Xavier Rossinyol, CEO of Avolta, highlighted: “This share buyback programme reflects Avolta’s strong balance sheet, financial performance and confidence in its future cash generation. In line with our capital allocation policy, we reiterate our committed priorities to invest in the growth of the business, deleverage to 1.5-2.0x and distribute a yearly dividend of 1/3 of the Equity Free Cash Flow. In addition, and in line with our capital allocation policy, we expect to return excess cash to shareholders over the medium-term.”
Further details on the program will be disclosed on https://www.avoltaworld.com/en/sharebuyback.
Legal Disclaimer
This document contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, “targets”, ‘intends’, ‘estimates’, ‘future’, “outlook”, or similar expressions or by discussion of, among other things, strategy, goals, plans, intentions or financial performance. All forward-looking statements included in this document are based on current expectations, estimates and projections of Avolta AG (the “Company”) about the factors that may affect its future performance. Factors that could cause the Company’s results to deviate from such forward-looking statements include, among others: global GDP trends, competition in the markets in which the Company operates, unfavorable changes in airline passenger traffic, unfavorable changes in taxation and restrictions on the duty-free sale in countries where the company operates. Although the Company believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved. The Company assumes no obligation to update forward-looking statements included in this document.
The Company does not sponsor, participate in or assist any American Depositary Receipts (“ADRs”) program. ADR holders are not shareholders of the Company and are not entitled to the same rights as holders of bearer shares or registered shares of the Company. To the extent that any ADR depository or ADR holder obtains any information regarding the Company, whether from the Company directly (including but not limited to investor presentations, investor relations materials, or other presentations), or otherwise, the Company does not endorse or support using that information in connection with any such ADR program.
This communication is not intended to be a recommendation to buy, sell or hold securities and does not constitute an offer for the sale of, or the solicitation of an offer to buy, securities in any jurisdiction, including the United States.
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About Avolta
Avolta AG, (SIX: AVOL) is a leading global travel experience player. With the traveler at its strategic core, Avolta maximizes every moment of the traveler’s journey through its combination of travel retail and travel food & beverage, passion for innovation and excellent execution. Avolta’s well-diversified business across geographical, channel and brand portfolio pillars operates in 73 countries and more than 1,000 locations, with over 5,100 points of sale across three segments – duty-free, food & beverage and convenience – and various channels, including airports, motorways, cruises ferries, railway, border shops and downtown. An inherent element of Avolta’s business strategy is found in ESG, aiming for sustainable and profitable growth of the company while fostering high standards of environmental stewardship and social equity – making meaningful impact in the local communities. The company’s access to 2.3 billion passengers each year reinforces the power of it’s more than 76,000 people, committed to surprising guests and delivering solid execution, supporting the company in creating value for all stakeholders.
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Source:
Avolta AG
avoltaworld.com
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