With EUR 2.1 b in revenue and EUR 112 m worth of profit, up from EUR 0.9 m, for the third quarter of its 2022/2023 financial year, ARYZTA announces considerably improved performance. Its revenue increased by 20.9% in this interval, to reach EUR 2,123.2 m.

ARYZTA AG Chairman and interim CEO Urs Jordi commented on the results:

“Our strong organic growth performance of 21.6% underpinned the delivery of a much-improved profit of EUR 112m. This was achieved in a period of challenging trading, with persistent inflation, cost of living increases, and supply chain and energy costs concerns. Volume growth was supported by a doubling of the share of innovation to 11% of revenue. This ensures our products remain aligned with customers’ needs and consumer trends. Our strategy remains focused on organic growth, operating efficiencies and strict cost discipline. This will generate free cash flow to deleverage total net debt below 3x by 2025. We remain on track to deliver further improvements across all key metrics in line with our guidance for the remainder of 2023 and reiterate our mid-term 2025 targets. Achievement of total net debt leverage of less than 3x will open up attractive refinancing options.”

Photo: Adobe Stock (#471170352)