We are an internationally active Swiss food and beverage group and combine craftsmanship with a pioneering spirit and thrive on entrepreneurship and strong values.
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ORIOR with good sales growth; Corona pandemic had a material impact on the product and channel mix as well as on profitability
Zurich, 19. August 2020
Revenues increased 2.8% to CHF 287.4 million; +0.2% organic, +4.0% acquisition-driven and –1.4% currency translation effect.
Food service revenues sharply lower; travel catering specialist Casualfood shut down almost completely during the lockdown.
Business with food retailers and discounters with significant overperformance.
Corona-related shifts in product and sales channel mix and non-recurring cost pressure profitability. EBITDA declined by CHF 4.9 million to CHF 23.5 million; EBITDA margin 8.2%.
Net profit declined by CHF 5.7 million to CHF 8.3 million, additionally attributed to acquisition-related depreciation and positive income tax effects from the prior-year period.
Outlook for the second half of 2020: Retail business should remain strong, stepwise recovery in food service, clear improvement in Group operating profit (EBITDA margin) compared to the first half of 2020.