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ARYZTA Q1 Revenue In Line With Its Expectations - Quick Facts

ARYZTA AG (ARZTY.PK,ARZTF.PK) reported that its first-quarter Group organic revenue declined by 2.5 percent. ARYZTA Europe organic revenue declined by 0.9 percent, while ARYZTA North America organic revenue declined by 6.1 percent. ARYZTA Rest of World recorded an organic revenue growth of 7.5 percent. For the first-quarter, reported revenue declined by 2.1 percent to 843.9 million euros.

ARYZTA AG CEO, Kevin Toland, said: "The negative first quarter organic revenue performance in our North American business was indicated at the time of our fiscal 2019 results. Whilst we expect second quarter revenue in North America to remain negative, we expect to see positive evolution emerge in the second half of fiscal 2020 as new contract volumes are realised."

For fiscal 2020, ARYZTA projects further underlying EBITDA growth at a Group level.

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