logo
Plus   Neg
Share
Email

ARYZTA Q3 Revenue Down 21.5% On Organic Basis

ARYZTA AG (ARZTY.PK) reported that its third-quarter group revenue was 644.2 million euros, down 21.5% on organic basis, as the effects of COVID-19 impacted revenue in the period, particularly in the second half of March and in April. Quarterly group revenue was down 24.0%.

ARYZTA Europe reported an organic revenue decline of 23.6%, comprising a 1.4% price/mix decline and a volume decrease of 22.2%.

ARYZTA North America reported an organic revenue decline of 20.4%, which comprised entirely of volume decline with a flat price/mix. Currency movement was positive by 1.9%.

ARYZTA Rest of World reported an organic revenue decline of 14.3% in the quarter, as a solid price/mix improvement of 3.7% was offset by a volume decline of 18.0%. Currency movement had a negative impact of 8.0%.

The company noted that trading conditions in the month of May have seen some early signs of recovery and are now showing three consecutive weeks of revenue improvement leading to an organic evolution of negative 33% compared to the prior year.

The company said the COVID-19 will have a material impact on Group performance in fiscal year 2020. It cannot yet fully gauge the consequences that will result from the situation as the short and longer-term impact cannot be fully assessed at this point in time.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Macy's is offering a sneak peek of its Black Friday deals for this year, so that shoppers can get a head start on finding some of the best deals. The department store has unveiled its Black Friday deals that will be available next month across categories, including fashion, fine jewelry, tech, beauty, toys and home specials. Some of the deals will be available for as low as $5. Italy's antitrust watchdog has opened an investigation against Google for an alleged abuse of dominant position in the Italian market for display advertising. This refers to the space publishers and website owners make available for the display of advertising content. Shares of Deutsche Bank AG were gaining around 3 percent in German trading after the banking major reported Wednesday a profit in its third quarter, compared to prior year's loss mainly driven by strong Investment Bank revenues. Looking ahead, the bank said it remains on track to meet all financial and strategic targets related to its transformation plan.
RELATED NEWS
Follow RTT