Aryzta sales slightly below expectations, profit margin declines

LootboxPhobia · 2026-03-02T09:54:39+00:00

Aryzta AG announces FY2025 results, with organic sales growth of 1.5%, EBITDA margin at 13.8%, down year-over-year. It is expected that in 2026, organic sales will achieve low to mid-single-digit growth, with EBITDA increasing year-over-year. Full-year cash flow is €120 million, and an equity buyback plan is imminent. Urs Jordi becomes the official CEO.

LootboxPhobia

2026-03-02 09:54:39

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Investing.com – Aryzta AG (SIX:ARYN) announced its full-year results for fiscal 2025 on Monday, with organic sales growth of 1.5% and an EBITDA margin of 13.8%, down 80 basis points year-over-year.

The Swiss bakery products company expects low to mid-single-digit organic sales growth in 2026, with EBITDA expected to grow year-over-year.

For fiscal 2025, the company’s organic sales increased by 1.5%, slightly below UBS’s estimate of 1.6% and market consensus of 1.7%. EBITDA reached €307 million, down 4% year-over-year, which is consistent with UBS and market consensus estimates of €306 million.

Earnings per share grew 6% year-over-year, driven by lower financing costs.

In Q4 FY2025, organic sales declined 0.3% year-over-year, with volume and product mix down 1.2% and price increases up 0.9%. The Europe region underperformed, declining 1.1%, while other regions grew 5.8%, supported by the quick-service restaurant business.

EBITDA margin for the second half of FY2025 decreased 130 basis points year-over-year to 13.8%. Raw material costs as a percentage of sales rose 200 basis points to 48%, roughly in line with historical averages.

Personnel costs as a percentage of sales increased 100 basis points to 21%, mainly due to wage inflation. These increases were partly offset by a 100 basis point year-over-year pricing benefit and cost control measures in 2025.

Full-year free cash flow to equity was €120 million, representing approximately an 8% yield on market capitalization, including €8 million of securitization-related negative cash flow.

For 2026, Aryzta expects low to mid-single-digit organic sales growth and EBITDA growth year-over-year. Market consensus currently forecasts 2.0% organic sales growth and €317 million EBITDA, up 3% year-over-year.

The company also expects to maintain strong cash generation and plans to repurchase the last remaining hybrid bond at the next maturity.

Urs Jordi will become the official CEO, with a new chairman candidate to be proposed at the 2027 annual general meeting.

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