Dufry

Dufry operates more than 2,200 duty-free and brick-and-mortar stores at airports, cruise ships, seaports, train stations and tourist areas in cities. Dufry is headquartered in Basel, Switzerland. The company, with a staff of more than 31 thousand people, is represented in 63 countries on five continents.

Performance indicators

2022: Annual revenue growth at Vnukovo, Pulkovo and Sochi airports by a third

Revenues of the operator of duty-free stores at Russian airports Vnukovo, Pulkovo and Sochi in 2022 increased by a third compared to 2021. This was reported on June 19, 2023 by RBC with reference to the financial statements of subsidiaries of the international group Dufry.

At the end of 2022, the revenue of the largest duty free store operator in Vnukovo amounted to 4.5 billion rubles - 33% more income for the previous year (3.3 billion rubles), follows from the reports of the RegStaer legal entity related to this airport. Revenue, although it did not recover to the dock 2019 indicator, turned out to be at the level of 2018 (4.4 billion rubles). Net profit in 2022 amounted to 701 million rubles - 2.4 times more than a year earlier (289 million rubles).

Revenues of the operator of duty-free stores in Vnukovo, Pulkovo and Sochi increased by a third

In Domodedovo, Dufry's subsidiary (Dufri East LLC) revenue in 2022 increased by 24.7% - to 2.05 billion rubles (a year earlier - 1.6 billion rubles). Net profit for the past year amounted to 2.4 billion rubles against a loss of 883 million rubles in 2021. There was no explanation in the financial statements of the companies, due to which the stores increased revenue.

Despite the closed airport of the Krasnodar Territory, the revenue of the Nuance Basel legal entity, which is 51% owned by Dufry, amounted to 1 billion rubles, which is 27% more compared to 2021. At the same time, net profit in duty-free stores increased almost eight times - from 78.8 million rubles to 628 million rubles. This growth is due to the fact that the airport in Sochi remained the only operating hub in the south of Russia after the closure of several airports. This led to a record passenger traffic - 13 million people in 2022.

Another major operator of duty-free stores in Sheremetyevo is Imperial Duty Free, which operates under the Sheremetyevo Duty Free Heinemann brand (the company's shareholders are Sheremetyevo Airport and the German company Gebr. Heinemann), revenue in 2022 amounted to almost 7 billion rubles, 19% less year-on-year.^[1]

History

2025: Araz Mehdiev bought from Gebr. Heinemann duty-free shops in Domodedovo and Sheremetyevo

On March 31, 2025, it became known that the German the company Gebr. Heinemann had left the business of duty-free stores at Moscow airports and. Domodedovo Sheremetyevo These assets were bought by Azerbaijani entrepreneur Araz Mehdiev, a former co-owner of the group. "Kyiv Square"

Gebr. Heinemann entered the Russian market in 2007. The German company initially developed stores at Domodedovo Airport: they were represented by Travel Retail Domodedovo LLC, founded by the Cypriot company Rubis Holdings Limited. Duty-free outlets in Domodedovo operate under the Sky Duty Free brand. And since 2009 Gebr. Heinemann developed similar stores at Sheremetyevo. In particular, the oldest Russian duty free store operator, Aerofurst: Gebr, came under the control of the German company. Heinemann bought out Aeroflot's stake in a joint venture with Irish operator Aer Rianta International. Subsequently, Imperial Duty Free JSC, a joint venture of Gebr, was formed. Heinemann and Sheremetyevo Airport. The co-owner of this JSC is the company Jullianita Limited, registered in Cyprus.

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Фото: Freepik

According to RBC, Gebr. Heinemann withdrew from the capital of two named Cypriot organizations. In the structures of Rubis Holdings Limited and Jullianita Limited, the German company owned 50% each. The deal was carried out in April 2024, but nothing was previously reported about it.

Buyer of Gebr shares. Heinemann was businessman Mehdiev, who became one of the shareholders of Cypriot companies in 2021: then he transferred 25% to Rubis Holdings Limited and Jullianita Limited. At that time, Greenway International, registered in Dubai, had another 25% each, which Vedomosti sources called Mehdiev's company in 2018. As of the end of April 2024, the Azerbaijani entrepreneur is listed in the materials of Rubis Holdings Limited and Jullianita Limited as their sole owner.^[2]

Notes