Global
ARI delivers record breaking profitability in 2025
17 Jun 2026
2025 was another very strong year for ARI, reflecting the commitment and resilience of our teams across the business. Through continued investment, major refurbishments, new store openings and strong partnerships, we maintained momentum across our global estate while continuing to enhance the passenger experience.
CEO ARI
ARI’s retail operations at Larnaca and Paphos airports in Cyprus performed significantly ahead of 2024 levels, with turnover exceeding €135m (+20%). The business delivered a strong profit performance, benefiting from an extended peak season and continued strong spend from UK passengers following the reintroduction of post-Brexit duty-free allowances. The F&B operation, in partnership with SSP, also performed very strongly.
ARI’s operations at Podgorica and Tivat airports in Montenegro continued to trade profitably despite the continued absence of high-spending Russian and Ukrainian passengers. Performance in Montenegro was further strengthened by the addition of a new retail unit at Tivat Terminal 2.
The strong financial performance reflects ARI’s continued focus on customer experience, operational excellence and long-term sustainable growth. It also reinforces the business’ position as one of the world’s leading travel retail operators and its commitment to bringing ‘Joy On Your Way’ to passengers across its global estate.
ARI continued to build momentum throughout 2025, delivering another record year of profitability through investment, innovation and a continued focus on enhancing the passenger experience. We remain ambitious about the future and confident in the strength of our partnerships, our people and our global portfolio as we continue to grow the business.
CEO ARI
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