Zurich / CH. (aag) Swiss Aryzta AG reported its financial results for the first nine months ended 30 April (9M-2022). Nine months organic revenue growth accelerated to 16.3 percent driven by positive volume and pricing, the company said in its Ad Hoc announcement. Performance overview:
Aryzta continuing operations reported strong organic growth of 22.6 percent in the third quarter of FY-2022. Total continuing revenue increased by 20.1 percent to EUR 433.9 million. The strong organic performance was driven by volume growth of 15.6 percent and price/mix improvement of 7.0 percent.
Total continuing revenue in the nine months to date, increased to EUR 1,269.2 million, driven by a strong organic performance of 16.3 percent, comprising volume growth of 12.7 percent and a price/mix contribution of 3.6 percent.
The pricing contribution accelerated significantly to 6.1 percent in Q3. Through the quarter pricing increased from 4.7 percent in February to 7.7 percent in April, and is significantly stronger than the 1.6 percent pricing contribution achieved in H1.
This reflects the ongoing work to recover widespread inflationary costs. 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 by Foodservice which achieved organic revenue growth of 38.1 percent, driven by a very strong performance in France.
In Q3 Europe performed very strongly with a 25.6 percent organic revenue growth. While all markets achieved growth, the performance in France, Germany and Fornetti was particularly strong. Europe’s organic growth in the nine months to date was 18.0 percent.
In Q3 Aryzta Rest of World achieved solid organic revenue growth of 7.2 percent, evident across all markets with Malaysia and Japan both outperforming. Rest of World achieved an organic growth in the nine months to date of 7.5 percent.
For additional information please read the company’s PDF file below (207 KB):
20220531-ARYZTA-9M-2022.