Zurich / CH. (aag) Swiss Aryzta AG announced its financial results for the fiscal year 2008/2009 ended 31 July. The company, which was formed by the merger of Irish IAWS and Swiss bakery group Hiestand in 2008, published the following key performance highlights:
Group:
– Underlying EPS rises by 16,0 percent to 2,347 EUR
– Revenue growth of 2,5 percent to 3’212,3 million EUR
– Return on investment increases to 12,6 percent, up 60 basis points
– Proposed dividend payout of 0,352 EUR per share
Food:
– Revenue growth of 4,7 percent to 1’712,7 million EUR
– Operating profit (inclusive joint venture) rises by 15,4 percent to 218,5 million EUR
– Underlying net profit rises by 18,0 percent to 149,3 million EUR
– Net Debt (505,5 million EUR) : EBITDA of 1,77x
– Return on investment increases to 11,0 percent; up 60 basis points
Origin:
– Underlying fully diluted EPS rises by 6,2 percent to 0,3616 EUR
– Return on investment increases to 20,7 percent, up 70 basis points
Commenting on the results, Aryzta AG Chief Executive Officer Owen Killian said: «The 2009 financial year began with unprecedented weakness in the global economy. Through the year, the recession broadened and deepened and this is reflected in our underlying revenues, which swung from double-digit growth to a decline, within the twelve month period. Aryzta has remained focused on cash generation and improving operating efficiency and this is reflected in our results. We are fortunate to be in the food business, particularly speciality bakery, where a combination of excellent products, trusted brands and an adaptive business model has provided some resilience in what remains a very challenging operating environment. These results are an endorsement of the shareholders´ overwhelming support to create Aryzta last year. We will continue to prioritise cash, while maintaining a well-invested platform to benefit from a future recovery in economic growth».
Info: Aryzta AG announces financial results for the fiscal year ended 31 July 2009 (complete press release, PDF, 32 pages, 575 KB).
