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
two
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
3
First Quarter Revenue Update
Investor inquiries:
Paul Meade, Head of Communications, ARYZTA AG
- +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).