ARYZTA reported strong organic growth of 22.6% in the third quarter of FY2021, with a 20.1% revenue increase, to EUR 433.9 m. The strong organic performance was driven by a volume growth of 15.6%.
The total revenue in the nine months to date increased to EUR 1,269.2 m. The pricing contribution accelerated significantly to 6.1% in Q3, the company said in its report. Inflationary pressures remain, with limited respite expected in the near term, resulting in more frequent pricing and the use of temporary surcharges.
In the nine-month period, ARYZTA benefited from a return to normal consumer socialization activity resulting in significant outperformance in Foodservice, which achieved organic revenue growth of 38.1%, driven by a very strong performance in France. In Q3, Europe performed very strongly with a 25.6% organic revenue growth. While all markets achieved growth, the performance in France, and Germany was particularly strong. Europe’s organic growth in the nine months to date was 18.0%.
In Q3 ARYZTA Rest of World achieved solid organic revenue growth of 7.2%, evident across all markets with Malaysia and Japan both outperforming. The organic growth in the rest of the world was 7.5%.
ARYZTA AG Chair and Interim CEO, Urs Jordi, commented: “While the Q3 organic growth performance is strongly volume-driven, significant progress was also achieved in terms of positive pricing and mix contributions. This reflects the continuous engagement with our customers around the widespread inflationary trends through price and increased innovation activity to improve mix contribution. We remain fully focused on delivering continuous business performance improvement to ensure we keep abreast of the volatile input environment and its challenges. The positive organic volume and price revenue development trend has sustained into Q4 and supports an increase in full-year organic revenue growth guidance to 14-16%.”
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