Heinemann Takes A Bow As The Only European Travel Retailer To Be Back In ProfitOne of the world’s biggest travel retailers,
Gebr. Heinemann, has gone where none of its European competitors have in 2021: into profit. This is quite a feat given that air travelers — who are the
core shoppers in the travel retail business — were thin on the ground in airport shops last year, with 5.4 billion passengers effectively removed versus 2019.
Larger European rivals, while making big advances on their 2020 losses, were still in the red.
Dufry’s results for 2021 revealed a net loss of $375 million while
Lagardère Travel Retail’s results showed its recurring EBIT was negative to the tune of $84.4 million.
Heinemann’s group turnover in 2021
rose 31% year-on-year to $2.2 billion (€2.1 billion) — still less than half (44%) of its €4.8 billion in pre-pandemic 2019. For the current year, the Hamburg-based company hopes turnover will hit 75%.
