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Aryzta FY19 Underlying EBITDA Up 1.9% - Quick Facts

Aryzta AG (ARZTY.PK,ARZTF.PK) reported an underlying EBITDA growth of 1.9 percent for the fiscal year 2019. Group organic revenue was flat with prior year period. Looking forward, ARYZTA projects an underlying EBITDA growth for fiscal 2020 as the benefits of the second year of Project Renew are being realised.

For fiscal 2019, IFRS loss was 29 million euros compared a loss of 470 million euros, previous year. Loss per share in cents was 8.3 compared to a loss of 121.0. Underlying EBITDA improved 1.9 percent to to 308 million euros.

Fiscal 2019 total revenue declined 1.5 percent to 3.38 billion euros. Group organic revenue was flat for the fiscal year.

ARYZTA AG Chief Executive Officer Kevin Toland said: "We are realistic about and resolved to address the clear revenue challenges presented by our North American business. We will see a further period of negative organic growth in H1 in the North American market with positive evolution expected in H2 as new contract volumes are realised."

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