Brief: Emmi: FY Sales Up By 8.1%

Emmi AG

25/01/2023 06:07

Jan 25 (Reuters) - EMMI AG  EMMN.S :
    * SAYS INCREASED ITS FY SALES BY 8.1% TO CHF 4,230.0
MILLION,
BREAKING 4 BILLION MARK
    * FY ORGANIC GROWTH IN DIVISIONS AMERICAS 13.1%, EUROPE 6.7%
AND
SWITZERLAND 2.9% AND AN ORGANIC DECLINE FOR GLOBAL TRADE -4.4%
    * OUTLOOK: ADJUSTED FOR AFOREMENTIONED IMPAIRMENT, EBIT
RESULTS
AND NET PROFIT MARGIN IN LINE WITH EXPECTATIONS, AT LOWER END OF
EXPECTED RANGE
    * SAYS IMPAIRMENT OF NON-CURRENT ASSETS OF AROUND CHF 13
MILLION
AT GLÄSERNE MOLKEREI AS A RESULT OF STRUCTURAL MARKET CHANGES
    * THIS IS COMPRISED OF ORGANIC GROWTH OF 7.0%, A POSITIVE
ACQUISITION EFFECT OF 2.1% AND A NEGATIVE FOREIGN CURRENCY
EFFECT OF 1.0%
    * SAYS POSITIVE SALES PERFORMANCE WAS DRIVEN BY ONGOING
MOMENTUM
IN INTERNATIONAL MARKETS, STRATEGIC NICHES SUCH AS
READY-TO-DRINK COFFEE WITH EMMI CAFFÈ LATTE OR CHILLED PREMIUM
DESSERTS
    * IS PROPOSING NADJA LANG TO SUCCEED ALEXANDRA POST QUILLET,
WHO
WILL NOT BE STANDING FOR RE-ELECTION AT GENERAL MEETING ON 13
APRIL 2023
    * BOARD OF DIRECTORS HAS CONFIRMED NOMINATION OF URS
RIEDENER AS
CHAIRMAN AND SUCCESSOR TO KONRAD GRABER, WHO WILL NOT BE
STANDING FOR RE-ELECTION AT GENERAL MEETING ON 13 APRIL 2023
    * SAYS MARKET FOR ORGANIC DAIRY PRODUCTS IN GERMANY HAS BEEN
HIT
PARTICULARLY HARD, WHICH HAS LED TO STRUCTURAL MARKET CHANGES
    * OUTLOOK 2022: FOR FINANCIAL YEAR 2022, AS EXPECTED, EMMI
PROJECTS EARNINGS BEFORE INTEREST AND TAXES (EBIT), ADJUSTED FOR
AFOREMENTIONED IMPAIRMENT, TO BE AT LOWER END OF RANGE
COMMUNICATED AT END OF FIRST HALF OF YEAR (CHF 265 TO 280
MILLION)
    * OUTLOOK 2022: NET PROFIT MARGIN, ADJUSTED FOR IMPAIRMENT,
IS
ALSO EXPECTED TO BE AT LOWER END OF RANGE (4.5% TO 5.0%)

Source text for Eikon:  ID:nEQc4YVxSa 
Further company coverage:  EMMN.S 
 (Gdansk Newsroom)
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