Hellenic Duty Free Shops' turnover reached €400 million in 2023, as last year saw a complete normalisation of the situation in the travel industry after three years of generalised uncertainty and travel restrictions brought about by the pandemic crisis.

In particular, total sales stood at €398.54 million, up 28% year-on-year; adjusted EBITDA increased by 12% to €81.76 million; and the company's net profit rose to €47.21 million, up 23% from 2022.

The company's sales were as follows: Airports: 290.4 million (+23.3%) Ports: 14.8 million (+49.6%) Borders: 83.2 million (+48%) Last year, investments of €1.7 million were made, while this year they are estimated to reach up to €9 million.The Board of Directors of the Duty Free approved the distribution of dividends from previous years (2018–2021), amounting to €29.638 million, which was paid in November 2023, while for the fiscal year 2023 and previous years, a dividend distribution of €60 million was proposed. 

THE CURRENTS FOR 2024 

Regarding this year, the emerging trend of tourists for off-season holidays, to avoid overcrowding and extreme weather conditions, leaves room for increased demand, both in "alternative" months and in "alternative" destinations in our country, as stated in the company's financial statements. An important role for the course of Greek tourism in the summer season of 2024 will be played by: - The ongoing Ukraine-Russia military crisis, which affects tourism from the two countries - The crisis in the Middle East, affecting tourism from Israel - The number of direct flights from US cities, given that 2023 was a record year for tourist growth from the US, which is expected to improve even more this year - The potential impact of rising interest rates and inflationary pressures affecting disposable income.