The Swiss bakery company, Aryzta, has announced impressive financial results for fiscal 2023. Driven by strong organic growth and high demand for prepared frozen products, the company saw a significant jump in net profit. Revenue also experienced a substantial increase, and all key metrics surpassed expectations.
Net Profit Soars
Aryzta’s net profit for the year ended July 29 reached an impressive €112 million ($118.4 million). This is a significant improvement compared to just €0.9 million in the previous year.
Impressive Revenue Growth
The company’s revenue surged by 21%, reaching €2.12 billion. The accelerated organic growth of 21.6%, up from 17.9% the previous year, played a crucial role in this success. Aryzta experienced strong pricing growth of 18.2%, contributing to the impressive revenue figures.
Demand for Prepared Frozen Products
Aryzta saw a notable increase in volume growth, driven by the high demand for its prepared frozen goods. These bake-off products have become increasingly popular in the market.
Aryzta’s earnings before interest, taxes, depreciation, and amortization (EBITDA) also showed significant improvement. The company achieved €271.3 million, surpassing the previous year’s figure of €171.9 million.
As Aryzta switches its reporting year from July-end to December-end, the company expects further advancements in all key metrics for the remainder of 2023. Additionally, Aryzta has reiterated its targets for 2025, demonstrating confidence in its future performance.