Aryzta AG (XSWX:ARYN)
CHF 1.795 0 (0%) Market Cap: 1.78 Bil Enterprise Value: 2.26 Bil PE Ratio: 28.04 PB Ratio: 2.33 GF Score: 62/100
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Half Year 2019 Aryzta AG Earnings Call Transcript

Mar 12, 2019 / 07:30AM GMT
Release Date Price: CHF1.3 (+10.17%)
Kevin E. Toland
ARYZTA AG - CEO & Executive Director

Thank you. Good morning, and thank you for taking the time to join our call this morning. I just briefly refer you to the safe harbor statement, which applies to today's announcement and discussion and I'm joined here with Frédéric Pflanz, our Group CFO, good morning.

So firstly, good morning again and thanks for joining us on the call for our fiscal 2019 first half results. In terms of format this morning, I will provide a brief update on the progress we've made in the period. I will then pass you to Frédéric for the financial review. I will then provide a summary and outlook and we will be happy to take your questions.

Turning to the first slide, I would like to outline the key strategic financial and operating highlights of the period. The results represent our first important step towards our multiyear turnaround commitment and our clear focus in the near term of stabilizing the business.

Project Renew, which is targeting EUR 90 million in annual run rate savings in fiscal year 2021, has been launched and we're

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