ARYZTA: Q1 2023 Revenue Update – Announcements

ARYZTA AG Press release 2022

1

ARYZTA AG

Ad hoc announcement in accordance with article 53 LR

ARYZTA on the way

Schlieren/Switzerland, November 28, 2022

ARYZTA increased its first quarter revenue in fiscal 2023 by 19.8% to €509.1 million and achieved organic growth of 22%.

The increase was largely driven by 18.1% pricing and volume growth remained strong at 4.1%, while mix change accounted for a decrease of (0.2%).

ARYZTA reiterates guidance for full fiscal year 2023 to deliver additional improvements across all key metrics in fiscal year 2023 with performance expected to accelerate in the second half of the year. This also takes into account the risks around the ongoing challenges of inflationary price recovery.

ARYZTA Europe reported organic revenue growth of 22.1% driven by strong price growth of 19.7%. Volumes increased 2.8% while mix decreased (0.4)%.

Strong organic growth in Europe was driven by double-digit organic revenue growth in our Food Service business coupled with positive revenue growth in the QSR and Retail channels. The food service business in Europe was strongly supported by a continued strong recovery in the French market.

ARYZTA Rest of World reported an organic revenue increase of 21.4%, which comprised volume growth of 12.0% with a positive price of 8.7%, while the mix added another 0.7%.

Urs Jordi, President and Interim CEO of ARYZTA AG, commented:

“Demand for bakery, especially for baked goods, remains strong in most of our markets despite significant inflation-driven price increases.

We are not seeing any reduction in the upward inflationary trends. ARYZTA communicates closely with all clients and works hard with them to manage these significant inflationary pressures. However, the persistently high level of cost inflation is such that additional pricing will have to follow.

We reiterate our guidance for the full year 2023 to deliver additional improvements across all key metrics, with performance expected to accelerate in the second half of the year. This takes into account the risks around the ongoing challenges of recovering inflationary prices and the highly uncertain macroeconomic environment.”

ARYZTA AG Press release 2022

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First Quarter Revenue Update

Q1 2023 Performance Summary

ARYZTA

ARYZTA

Total

Europe

Rest of the world

ARYZTA Group

in millions of euros

millions of euros

millions of euros

millions of euros

Income

447.2

61.9

509.1

organic movement

22.1%

21.4%

22.0%

removal move

(21.7)%

(3.0)%

currency movement

0.2%

5.0%

0.8%

Total Revenue Movement

22.3%

4.7%

19.8%

quarterly organic revenue

Q1 2022

Q2 2022

Q3 2022

Q4 2022

Q1 2023

ARYZTA Europe

Volume %

8.6%

16.4%

18.0%

10.1%

2.8%

Price %

0.7%

2.5%

6.6%

11.8%

19.7%

Mixture %

0.8%

0.2%

1.0%

0.9%

(0.4)%

% of organic movement

10.1%

19.1%

25.6%

22.8%

22.1%

ARYZTA Rest of the world

Volume %

4.3%

7.0%

3.3%

11.8%

12.0%

Price %

1.7%

1.7%

3.5%

6.1%

8.7%

Mixture %

1.9%

(1.1)%

0.4%

1.0%

0.7%

% of organic movement

7.9%

7.6%

7.2%

18.9%

21.4%

Total ARYZTA Group

Volume %

8.0%

14.8%

15.6%

10.3%

4.1%

Price %

0.9%

23%

6.1%

11.0%

18.1%

Mixture %

0.9%

(0.1)%

0.9%

0.9%

(0.2)%

% of organic movement

9.8%

17.0%

22.6%

22.2%

22.0%

ARYZTA AG Press release 2022

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First Quarter Revenue Update

Investor inquiries:

Paul Meade, Head of Communications, ARYZTA AG

  1. +353 87 065 5368 [email protected]

Media Questions:

Philippe Blangey, Dynamics Group

Telephone: +41 43 268 32 35; M: +41 79 785 46 32 [email protected]

forward-looking statement

This document contains forward-looking statements that reflect the current opinions and estimates of the Board of Directors. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Potential risks and uncertainties include factors such as general economic conditions, currency fluctuations, competitive pressures on products and prices, the effects of a pandemic or epidemic, natural disaster or war, and regulatory developments. You are cautioned not to place undue reliance on any forward-looking statement. These forward-looking statements are made as of the date of this document. The Company expressly disclaims any obligation or commitment to publicly update or revise any forward-looking statement other than as required by applicable law.

About ARYZTA

ARYZTA AG (‘ARYZTA’) is a global food company with a leading position in the convenience bakery. ARYZTA is headquartered in Schlieren, Switzerland, with operations in Europe, Asia, Australia and New Zealand. ARYZTA is listed on the SIX Swiss Exchange (SIX: ARYN).

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