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ARYZTA AG Reports COVID-19 Impact - Quick Facts

ARYZTA AG (ARZTY.PK) said third-quarter trading patterns have been in line with guidance up until 15 March. However, it is now clear that COVID-19 will have a material impact on Group performance in fiscal 2020.

Also, the company announced actions to maximise cash, and reduce costs. ARYZTA will significantly reduce capital spend with all future capital projects suspended. The company is also actively reducing capacity to meet demand.

ARYZTA stated that it has no material debt maturities over the coming 18-month period, and currently holds liquidity in excess of 360 million euros, comprising cash of 310 million euros and undrawn credit facilities.

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