Aryzta reports €125.7m profit for 2023
Print5 March 2024
Aryzta has reported a €125.7 million profit for the 12-months of 2023, its latest financial results show.
The Cuisine de France owner’s EBITDA increased by €132.3% to €304.5 million, during the period.
Aryzta AG chairman and group interim CEO, Urs Jordi, commented: “Aryzta outperformed strongly in 2023 across all key metrics with innovation driving top line growth and efficiencies boosting margin expansion.”
Mid-term targets
Aryzta noted that it is on track to achieve its 2025 mid-term targets.
“Aryzta is on track to deliver its mid-term targets having implemented all the key changes across our business. With the post COVID recovery boost no longer a factor and a reducing price effect, we expect full year 2024 growth rates to normalize,” Jordi added.
“Our growth will remain organic focused and innovation led while our margin progression will be supported by efficiencies and costs optimization.
“We expect 2024 quarterly growth trends to vary as was the case in 2023.
“In light of Q1 2024 organic growth trending at a lower run rate, reflecting temporary softness especially in QSR, we expect organic growth to be in the low to mid-single digit range for the full year.”
Latest article: Aryzta poised to double sourdough and speciality bread capacity at Grange Castle bakery
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