ARYZTA increased its first-quarter revenue in FY 2023 by 19.8%, to EUR 509.1m and delivered 22% organic growth, the company announced. The increase was driven largely by 18.1% pricing and volume growth remained solid at 4.1%.

ARYZTA anticipates further improvements across all key metrics in FY 2023 with its performance expected to accelerate in the second half of the year. This also takes account of the risks around the ongoing challenges of inflationary price recovery.

ARYZTA Europe reported organic revenue growth of 22.1% driven by a very strong price growth of 19.7%. The performance in Europe is owed to its foodservice business, especially in France, coupled with growth in QSR and retail.

ARYZTA AG Chair and Interim CEO, Urs Jordi, commented: “Bakery, especially bake-off demand remains solid in most of our markets despite the significant inflation-driven price increases. We are not seeing any reduction in the upward inflationary trends. ARYZTA is communicating closely with all customers and working hard with them to manage these significant inflationary pressures. However, the persistently high level of cost inflation is such that further pricing will have to follow. We reiterate our full-year 2023 guidance to deliver further 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 inflationary price recovery and the highly uncertain macro-economic environment.”