Upbeat Avolta announces share buyback of up to CHF200 million

SWITZERLAND. Global travel retail and food & beverage powerhouse Avolta has resolved to launch a share buyback programme resulting in the subsequent cancellation of up to CHF200 million (US$219.3 million) worth of Avolta AG registered shares.

The Board of Directors’ resolution is in accordance with Avolta’s reinforced capital allocation policy announced on 31 October 2024.

The 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 this month 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.

Avolta CEO Xavier Rossinyol said: “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 programme will be disclosed on https://www.avoltaworld.com/en/sharebuyback.