Aryzta poised for growth on fifth anniversary

Swiss-based food group Aryzta has marked the fifth anniversary of its creation with a strong set of results for 2013. It reported an increase of 7.6 per cent in revenues, up to €3.1 billion in the twelve months to July 31st, while pre-tax profits advanced by 10 per cent to €329 million. Earnings before interest, taxes and amortisation(EBITA) increased by 8.5 per cent to €406.7 million at the food group whose brands include Delice de France and Otis Spunkmeyer .

When its Origin operation is included, overall group revenue for Aryzta grew by 7 per cent to €4.5 billion, while pre-tax profits increased by 10 per cent to €414 million.

Owen Killian, chief executive with Aryzta, said that given the level of change management across the business, revenue growth and margin expansion performance was "robust".

“Underlying revenue growth remained positive, and the improved diversification of our channel mix should improve the sustainability of this growth,” he said, adding that the groups is now “poised for growth as it completes the final year of transformation into a customer centric group, focused on consumer trends and individual customer requirements.”

Aryzta’s European food operation grew revenue by 9.3 per cent to € 1.4 billion, driven by its acquisiton of Klemme during the year. Underlying revenues grew marginally at 0.2 per centover the year, with a strong recovery during the fourth quarter of 2013.

“The weak underlying growth in bake-off reflects sustained weak consumer spending and the growing impact of government austerity measures across the region,” the company said.

In north America, Aryzta grew its revenues by 6.4 per cent to €1.5 billion, with acquisition contribution of 2. per cent and underlying revenue growth of 1.6 per cent.

Acorss Brazil, Australia, New Zealand, Malaysia, Singapore, Taiwan and Japan, the food group grew its revenues by 5.7 per cent to €234.2 million, with underlying revenue growth of 6.6 per cent and acquisition contribution of 2.3 per cent.

Since its creation in 2008, Aryzta has experienced revenue growth of 89 per cent to €3.1 billion, food EBITA growth of 134 per cent to €407 million, and consolidated underlying fully diluted EPS growth of 78 per cent.