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Aryzta Q1 Group Revenue Drops; Backs FY19 Organic EBITDA View - Quick Facts

Swiss bakery business Aryzta AG (ARZTY.PK,ARZTF.PK) reported Monday that its first-quarter revenue declined 5.2% from last year to 862.3 million euros, reflecting the impact of disposals and currency.

Organically, revenue edged up 0.3 percent, reflecting ongoing stabilisation across the business, despite commercial challenges.

Aryzta Europe revenues dropped 1.1 percent to 430.4 million euros, but grew 2 percent organically. Aryzta North America revenues fell 10.4 percent to 366.9 million euros, and was down 2.8 percent organically. Rest of the world revenues dropped 0.1 percent on a reported basis but grew 7.7 percent organically.

Looking ahead, for fiscal 2019, the company continues to expect mid to high single-digit organic EBITDA growth, applying budget FY 2019 exchange rates on a like-for-like basis and excluding any disposals.

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