Aryzta is reviewing its operations in Germany after the Swiss bakery group reported a challenging first half. Organic revenues in Europe fell 3.4% to €942.7 million, with Germany blamed for pulling down the region's performance due to high price sensitivity, fragile consumer spending, and additional bakery capacity. The group's overall organic revenues dropped 2.7% to €1.06 billion, while EBITDA declined 7% to €139.9 million, partly due to one-time costs of around €5.4 million from its Project Excellence savings programme. Interim CEO Urs Jordi said a full exit from Germany is unlikely, but the review will assess the business model, manufacturing setup, and market coverage, with an update expected towards year-end. Aryzta also announced the acquisition of Société Européenne des Beurres, a frozen bakery products distributor in south-west France, to bolster its foodservice operations in Europe.
Aryzta AGOrganic revenues fell 3.4% in Europe due to fragile consumer spending and price sensitivity in Germany, dragging overall performance.
Aryzta's acquisition of SEB is a strategic move to bolster foodservice operations, but SEB is not the subject of the article.
