Brief: Aryzta Gives Strategic Update

Aryzta AG

18/12/2020 18:00

Dec 18 (Reuters) - ARYZTA AG  ARYN.S :
    * REG-STRATEGIC UPDATE
    * HAS TAKEN THE FIRST STEPS TO IMPROVE THE REMAINING
BUSINESS’S
PERFORMANCE TO AT LEAST PEER-EQUIVALENT OPERATIONAL AND
FINANCIAL METRICS
    * PREPARATION FOR THE DISPOSAL OF SELECTIVE BUSINESSES TO
REDUCE
THE COMPANY’S INDEBTEDNESS IS IN PROGRESS
    * HAS RECEIVED A HIGH NUMBER OF EXPRESSIONS OF INTEREST FOR
VARIOUS OTHER PARTS OF ITS PORTFOLIO
    * CONFIRMS THAT OUR STRATEGY IS TO FOCUS ON OUR EUROPE AND
APAC
MARKETS AND TO DISPOSE OF OUR BUSINESSES IN BOTH NORTH AMERICA
AND LATIN AMERICA
    * BY THE END OF 2021, WE EXPECT TO SECURE AT LEAST A 25%
REDUCTION
IN CENTRAL OVERHEAD COSTS AS WE MOVE TO A MULTI-LOCAL, LEAN, AND
MORE AGILE BUSINESS MODEL
    * EXPECTS THAT MINIMUM TARGET TO IMPROVE EBITDA MARGIN RUN
RATE TO
PEER MEDIAN LEVEL (C.12.5%) WILL BE ACHIEVED WITHIN THE NEXT TWO
YEARS
    * ALSO ENVISAGES A RETURN TO SUSTAINABLE ORGANIC GROWTH OVER
THE
NEXT TWO TO THREE YEARS

Source text for Eikon:  ID:nGNEc8R4Hh 
Further company coverage:  ARYN.S 

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