Aryzta AG (ARYN.S)
23 May 2018
Thu, May 24 2018
May 24 Speciality baker Aryzta reduced its profit outlook on Thursday after recovery plans of its new-look management team were dented by renewed weakness in Europe, its biggest market.
May 24 Swiss food company Aryzta further cut its full-year guidance for earnings before interest, tax, depreciation and amortisation (EBITDA) after saying EBITDA margins in the third quarter fell below management expectations.
* ESTIMATES FY18 EBITDA WILL BE C. 9-12% LOWER THAN PRIOR EBITDA GUIDANCE
* APPOINTMENT OF GREGORY SKLIKAS AS CEO EUROPE AS A SUCESSOR TO DERMOT MURPHY
ZURICH, March 12 Bakery company Aryzta's management shuffle continued on Monday, with its top lawyer announcing he is stepping down after the Swiss-Irish firm's first-half net loss widened amid a "multi-year turnaround programme".
* H1 REVENUE DECREASE OF (6.3)% TO €1,787M; (2.2)% ORGANIC DECLINE, (EX CLOVERHILL +1.3%)
* ARYZTA ANNOUNCES IT HAS AGREED TO SELL ITS LEGACY CLOVERHILL FACILITIES (CHICAGO AND CICERO)
* ARYZTA AG - APPLIED TO IRISH STOCK EXCHANGE FOR ADMISSION OF 1.1 MILLION REGISTERED SHARES Source text for Eikon: Further company coverage: (Gdynia Newsroom)
* Shares slump 22 pct, set for worst day in a year (Adds analysts' comments, share move)
* FOCUS ON COST REDUCTION AND EFFICIENCY PROGRAM - CONF CALL