Distribuzione e Revenue

📈 Mondelēz International reported a 1.9% decrease in net revenues for Q2 2024, despite a 2.5% organic revenue growth countered by negative currency impacts and the divestiture of its gum business, which was sold to Perfetti Van Melle in 2023 for over $1 billion. Gross profit fell by $557 million, with gross margin dropping 590 basis points to 33.5%. Adjusted gross profit margin improved by 330 basis points to 40.5%, thanks to price increases and reduced production costs. In the first half of 2024, Mondelēz returned $2.2 billion to shareholders through cash dividends and share repurchases. For 2024, the company forecasts high single-digit organic net revenue growth (3-5%) and a free cash flow of over $3.5 billion, with currency translation expected to decrease net revenue growth by approximately 1.5%.

📍 In 2024, travel company Naar projects a double-digit revenue growth over 2023, with long-haul trips to Japan, Indocina, the US, Polynesia, Peru, Colombia, Canada, and Fiji driving numbers. General Manager Luca Battifora and CEO Frederic Naar highlight the success of the Bespoke project in Europe, offering unique itineraries. With a strong belief in B2B, Naar aims for a €73-74 million turnover, up 11-12%, focusing on the Italian market. Additionally, a shift in demand from Central and Southern Italy suggests a rise in bookings for traditionally unrequested long-haul destinations, like Southern Africa.

🏖 Dubai reports a +9% increase in international arrivals in the first half of 2024 compared to the same period in 2023, totaling 8.55 million visitors, according to the Dubai Department of Economy and Tourism. The hospitality sector shows a high hotel occupancy rate of 78.7%, a +1% increase from 2023. Middle East and North Africa accounted for 26% of visitors, followed by Western Europe (20%) and South Asia (17%). Dubai hosted events like Gulfood and Arabian Travel Market in 2024.

🚩 Air France-KLM predicts a drop in third-quarter revenue from €170 million to €150 million due to low summer demand for flights to Paris. According to euronews.com, the Paris’s Tourism Board observed a decrease in tourism, with a -8% change in June compared to 2023 and a -15% in July arrivals. Hotels experienced a -10% occupancy rate decline. Historical data indicates that cities like London, Athens, and Atlanta also saw decreased visitors during the Olympics.

💸 Royal Jordanian reported a loss of over $38 million in H1 2024, compared to a $24 million loss in 2023, with revenue falling from $491 million to $477 million. Nearly 1.8 million passengers were carried between January and June, slightly down from the previous year. Factors such as the Gaza conflict led to reduced bookings from the Palestinian, Cisjordanian, and Arab-Israeli markets, and less demand for group travel. Jordanian tourism saw a 7.9% drop in arrivals. Despite challenges, the airline is modernizing its fleet until December and has launched new destinations including London Stansted, Manchester, AlUla, and Paphos.

🌍 Naar, an Italian travel company, projects a double-digit revenue growth in 2024 compared to 2023, driven by long-haul trips to Japan, Indocina, the United States, Polynesia, Peru, Colombia, Canada, and Fiji. Luca Battifora, recently appointed General Manager, highlights the success of the Bespoke product in Europe. The tailored travel experiences cater to a growing international clientele. Naar's B2B model capitalizes on the partnership with travel agencies for customized itineraries. The firm targets €73-74 million in revenue for 2024, aiming for an 11-12% growth in the Italian market. Additionally, there's a notable shift in Central and Southern Italy's market trends, with increased bookings to traditionally less popular long-haul destinations, such as Southern Africa.

💰 Meliá Hotels International, in the first half of 2024, reduced its debt by €271.6 million to €892.1 million, with an operating cash flow of €70 million aimed solely at reducing losses. During the same period, the hotel company's consolidated revenue reached €960 million, a 5-point increase from the previous year, and Ebitda rose to €240.3 million, up 10% from 2023. CEO Gabriel Escarrer noted the debt reduction as confirming positive financial forecasts. The first semester showed a full recovery to pre-pandemic levels in both leisure and corporate sectors, contributing to a 13.2% increase in RevPar.

🏖️ Lombardia reports a 7.5% increase in summer tourist stays. Barbara Mazzali, regional councilor, highlights a strong start to 2024 with a prolonged winter season and high numbers during Easter. Lombardia attracts national and international tourists, with 17% more presences in 2023 compared to 2019. The first half of 2024 saw approximately 23.8 million overnight stays, up 11.5% from the previous year; foreign visitors made up about 65% of guests, with 85% in provinces like Como.

💸 Klm Group, mid-2024, records a loss of €31 million, with higher revenues of €6 billion compared to €5.6 billion in the first six months of 2023. This loss is attributed to increased costs, despite a higher passenger total of 16 million from January to June 2024. In contrast, the first half of 2023 saw a profit of €129 million. Subsidiary Transavia also reports higher revenue, hosting 4.5 million guests. Measures to improve financial performance and control costs are planned post-summer.

✈ Southwest Airlines, after a distinctive 50+ year policy of open seating, will introduce an extra fee for seat selection next year, along with extra legroom seats and overnight flights, expecting to generate over $1 billion in additional annual revenue and attract more corporate clients. The new strategy details will be revealed in September. Analyst Savanthi Syth estimates that assigned seating could bring in $500 million to $1.5 billion per year, while legroom choices could add another $500-800 million annually. However, reconfiguring around 446 Boeing 737-800 and 737 Max 8 planes for 30 extra legroom seats could take up to 3 years.