baked goods manufacturer Aryzta has implemented in the first half of the year 2018/19 something less. But organically, that is, on its own, sales grew slightly.

The investors, the croissant is pleased to share today gone tomorrow like hot best device, the second way, the exchange rate was about 14 percent in the Plus. Since there is certainly the weight that Aryzta bottom line, still earned significantly less. The previous Outlook was confirmed.

The Numbers in Detail

Overall, sales declined in the end of January 2019 preceding the first Semester 2018/19 4.2 percent to 1.71 billion euros, as Aryzta announced. Above all, sales activities were responsible.

From its own power, sales would have increased 0.7 percent. In the previous year had stood at this important measure, yet a Minus of 2.2 percent. Analysts had expected a Plus of 0.1 percent.

A decline in sales in the Region of North America (organic growth: -1.8 per cent) recorded in the first half of the year, while the regions of Europe (+1.9 percent) and the Rest of the world (+6.7%) rose.

Ambitious goal

The adjusted operating profit before depreciation and amortisation (EBITDA) fell by six per cent to 151,6 million euros. The bottom line, net income plunged by 22.5 per cent to 39.5 million euros. The previous EBITDA targets for the full year was confirmed. In this regard, the company expects a mid – to high single-digit organic growth.

For analysts is clear: This goal is ambitious, but since Aryzta is now in the first half of the year has shown that growth is possible, the destination appears reachable. This should succeed, then the stock could actually win. The Catch-up potential is present, because in the last three years, it was mostly downhill. The title at the time cost almost ten francs, today, despite a price jump gut 1.30 Swiss francs. (koh/SDA)