Aryzta reports rise in full-year revenue

Swiss specialty bakery company Aryzta has reported a 53.5% increase in year-on-year revenue to €2.58bn ($3.47bn) for the financial year that ended 31 July 2011.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 55.6% to €322.3m ($433.91m) compared with the previous year.

Revenue from its European division increased by 10.5%, while revenue from the North American division and the rest of the world rose by 112% and 403% respectively.

Aryzta CEO Owen Killian said bakery volumes doubled, leading to a 53.5% increase in revenue as a result of acquisition activity one year previously.

"Aryzta is now much better positioned opposite consumers with greater global access to serve restaurants and retail, complementing our well-established deeply distributed food service business," Killian added.

The company said it plans to invest €100m ($134.63m) a year over the next three years to unlock revenue and efficiency opportunities.

Aryzta was formed following the merger of IAWS and Swiss company Hiestand, and operates in Europe, North America, South America, Asia, Australia and New Zealand.