ARYZTA has achieved an underlying net profit of EUR 45.6 m in FY 2022, the first profit in many years. Despite current market challenges including inflation, the company anticipates further improvements in the FY 2023. ARYZTA AG Chairman and interim CEO Urs Jordi commented that the results reflect “the benefits of the significant business performance acceleration and structural and operational changes undertaken. The consolidation of our business model has significantly progressed and we are improving on all levers of value creation. This has supported the significant improvements in our financial position during the past year. ARYZTA has lower total net debt.”

The ARYZTA AG Board announced that Chairman Urs Jordi has agreed to continue as interim CEO, following its unanimous request. He undertakes this role until December 31, 2024, when the Board is due to select a permanent CEO.

ARYZTA delivered a strong financial performance in the period leading up to July 30, 2022, reflecting significant changes and reorganizations made over the past two years to reduce costs, simplify the organization structure and focus on organic growth. The total revenue increased by 15.1% to EUR 1,756.1 m, with businesses accounting for 60% of Group revenue at year-end exceeding pre-COVID revenue levels.

All channels performed strongly, achieving double-digit organic growth. The food service revenue increased by 31.5%, QSR revenue increased by 16.5% and Retail grew by 12.2%.

Key Highlights

• Revenue increased by 15.1% to EUR 1,756. 1 m
• Organic revenue growth 17.9%
• Underlying EBITDA increased from EUR 173.4m to EUR 218.8 m
• Underlying EBITDA margin expanded 110bps to 12.5%
• Operating free cash flow reached EUR 109.7m
• EUR 50 m principal repayment Euro Hybrid
• Underlying net profit of EUR 45.6 m

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