Aryzta AG recorded organic growth across the Group, with France, Switzerland, Poland and Germany performing well in Europe. Foodservice and QSR have been the best-performing sales channels, with notable growth in the company’s European retail channel. Inflation trends for labor, purchased services, transportation and some bakery ingredients such as sugar, proteins, and especially eggs continue to increase significantly, compensating for reductions in other ingredients (e.g., flour and butter).
ARYZTA AG Chair and Interim CEO, Urs Jordi, commented: “Our business performed strongly in Q3, achieving solid volume growth despite implementing further necessary price increases to recover persistent inflationary costs across our business. Our focus remains on sustaining organic growth and leveraging innovation to grow market share. We continue to control fixed costs and improve operational efficiencies to help our customers deal with the persistent cost inflation pressures and improve performance. While we face stronger organic growth comparisons in the coming quarter, we remain on track to deliver improvements across all key metrics in line with our guidance for the period ending July 2023.”