ORIOR slowed down in the sec­ond half of 2023 by ac­cu­mu­la­tion of ad­verse fac­tors – or­ganic growth is ex­pected to be slightly above 2%, with the EBITDA mar­gin at around 9.2%. Mittwoch, 24. Januar 2024 - 06:07

Ad hoc an­nounce­ment pur­suant to Art. 53 LR

Zurich, 24 Jan­u­ary 2024

The in­ter­na­tion­ally ac­tive Swiss food and bev­er­age group ORIOR is ex­pected to gen­er­ate net sales of CHF 643 mil­lion dur­ing the 2023 fi­nan­cial year (at con­stant ex­change rates: CHF 650 mil­lion) and an EBITDA mar­gin of around 9.2%. This means that the 2023 re­sults will come in be­low ex­pec­ta­tions and guid­ance, both in terms of sales and EBITDA. Free cash flow in­creased, which un­der­scores the Com­pa­ny’s abil­ity to pay div­i­dends.

The fol­low­ing fac­tors played a role in the re­sults: The on­go­ing in­fla­tion­ary en­vi­ron­ment with ris­ing in­put costs led to higher re­tail prices, which in turn caused con­sumers to in­creas­ingly choose lower-priced ORIOR prod­ucts, re­sult­ing in a prod­uct mix with lower mar­gins. Ad­di­tion­ally, pork prices rose sig­nif­i­cantly and cre­ated dis­pro­por­tion­ately strong pres­sure on mar­gins in the fourth quar­ter. At the same time, it was not pos­si­ble to re­alise all of the planned growth po­ten­tial ini­tia­tives. Com­bined with mod­est Christ­mas busi­ness, these ef­fects be­came more ac­cen­tu­ated to­wards the end of the year.

The Re­fine­ment seg­ment was par­tic­u­larly af­fected and – de­spite Rapel­li’s solid per­for­mance – will end the year with neg­a­tive growth. The ORIOR Con­ve­nience seg­ment matched the pre­vi­ous year’s re­sults, thanks in part to Biot­ta’s pleas­ing per­for­mance, while the ORIOR In­ter­na­tional seg­ment, with the ex­cep­tion of Spiess Eu­rope, did very well over­all and is re­port­ing high, sin­gle-digit or­ganic growth.  

The chang­ing eco­nomic fac­tors are be­ing as­sessed on an on­go­ing ba­sis, and the Group is in­tro­duc­ing mea­sures to in­crease growth and im­prove prof­itabil­ity.

The am­bi­tions in the ORIOR Strat­egy 2025 are in prin­ci­ple con­firmed, in par­tic­u­lar or­ganic growth of 2-4% and an EBITDA mar­gin of >10%. Based on the 2023 re­sults and the mea­sures that have been in­tro­duced, the Com­pa­ny’s other medium-term goals will be re­assessed.

On 13 March 2024, ORIOR will pro­vide de­tailed in­for­ma­tion about its 2023 an­nual re­sults, mea­sures, the out­look for the cur­rent fi­nan­cial year, and the medium-term tar­gets de­fined in the ORIOR Strat­egy 2025.

Con­tact
Milena Math­i­uet, Chief Cor­po­rate Af­fairs Of­fi­cer
Phone +41 44 308 65 13, e-mail: in­vestors@orior.ch

In­vestor agenda
13 March 2024: Pub­li­ca­tion of 2023 fi­nan­cial re­sults and An­nual Re­port
23 May 2024: An­nual Gen­eral Meet­ing of ORIOR AG