Ad hoc media releases
You will find the latest media releases of the ORIOR Group hereafter. All media releases as from 1 July 2021 comply with the ad hoc publicity requirements under Article 53 of the Listing Rules.
ORIOR presents broad-based growth and increased profit in anniversary year
Ad hoc announcement pursuant to Art. 53 LR
Zurich, 8 March 2023
Net sales up by 3.7% (organic growth 6.0%) to CHF 636.7 million, driven by broad-based volume growth.
EBITDA reached the previous year’s level of CHF 64.1 million, with an EBITDA margin of 10.1%.
Significant increase in EBIT of 7.2% to CHF 37.9 million, with profit up by 10.6% to CHF 30.2 million.
Attractive dividend policy with a steady increase in absolute dividend confirmed: proposed dividend of CHF 2.50 per share.
Planned investment and site development projects successfully implemented.
ESG incorporated in Articles of Association; Board of Directors appoints ESG Committee.
Board of Directors: Remo Brunschwiler nominated for election as new Chairman.
30 years of ORIOR: ORIOR thanks its employees, customers, suppliers, partners and investors with a unique Food Festival.
Outlook 2023: continued broad-based growth and stable margins expected in a volatile environment.
Internationally active Swiss food & beverage group ORIOR can look back on a successful anniversary year in a complex and challenging environment. CEO Daniel Lutz summarises: “We achieved good results, especially once all of the influencing factors are taken into account. The economy has now been in a state of crisis for three years. The ORIOR New Normal model became the key initiative we took to successfully handle the many challenges facing us. We were able to improve our key figures – again and partially relevant – compared with the previous year, despite the distortions caused by high energy, transport and sourcing costs as well as strong inflation in many places in Europe. This is evidence that we have reached a new level of quality in terms of resilience, thanks in particular to the breadth of our portfolio and our focus on forward-facing niches with growth potential.”
In the 2022 financial year, the ORIOR Group generated net sales of CHF 636.7 million, an increase of 3.7% over the previous year (previous year: CHF 614.1 million). Reported net sales growth consists of organic growth of 6.0% and a currency effect of –2.3%. Sales reclassification (net booking of intermediary sales) of CHF 4.1 million and discontinued sales to Russia of CHF 1.9 million reduced net sales by a total of CHF 6.0 million. The ongoing recovery of Casualfood and the food service sector, as well as responsible, gradual price increases and broad-based volume growth were the main drivers for the positive trend. In addition, the diversified positioning of the Group provided a stabilising effect once again. The Group’s gross margin increased from 44.8% to 45.9%. EBITDA remained unchanged at CHF 64.1 million (previous year: CHF 64.1 million), corresponding to an EBITDA margin of 10.1% (previous year: 10.4%).
EBIT increased substantially by 7.2% to CHF 37.9 million (previous year: CHF 35.4 million) due to lower depreciation, favourable exchange rates and, in particular, the one-off effects related to the site development projects in the previous year. Net profit attributable to ORIOR AG shareholders increased by 10.6% to CHF 30.2 million (previous year: CHF 27.3 million). In the 2022 financial year, the operating cash flow amounted to CHF 59.4 million (previous year: CHF 51.3 million, restated). This increase is mainly due to organic growth as well as the active management of working capital. Thanks to the solid operating performance, the net debt/EBITDA ratio was reduced slightly from 2.09x to 2.06x, which was in line with planning and despite the dividend increase and the acquisition of the final tranche in Casualfood.
Compared with a strong previous year, ORIOR’s Convenience segment, with its Fredag, Le Patron, Pastinella and Biotta competence centres, generated 1.2% lower net sales of CHF 220.2 million (previous year: CHF 222.8 million). The main reasons were the reclassification of sales (net booking of intermediary sales) with a corresponding loss of sales of CHF 4.1 million, as well as the closure of a smaller production site and the associated shift of sales to the Refinement segment. If these two effects were excluded, the segment would have experienced significant growth. Positive highlights worth mentioning are the continued good performance and channel expansion of the core ranges, the rebound of the food service business in general, including large catering orders of several thousand meals, as well as new listings in the plant-based specialities sector. Strategic capacity expansions within the plant-based product category were successfully completed.
The ORIOR Refinement segment, with the Rapelli, Albert Spiess and Möfag competence centres, increased net sales by 0.9% to CHF 249.1 million (previous year: CHF 246.8 million). As of spring 2022, the ORIOR Group made a conscious decision to stop sales exports worth just over CHF 2 million per year to Russia. At the same time, historically low pork prices with corresponding price reductions put pressure on segment sales. The sales shift from the Convenience segment due to the closure of a smaller site had a positive effect. After taking the influential factors mentioned above into account, the Refinement segment posted a stable performance, due in large part to the established core product range. Other noteworthy elements in this context were the new developments and listings in the area of smoked specialities, bacon and Pure Nature expansions with terroir awards and cross-unit bridge-building initiatives.
The ORIOR International segment, with the Culinor Food Group and Casualfood competence centres and Biotta’s sister company Gesa, as well as the packing and delivery platform Spiess Europe, increased net sales by a very good 13.6% to CHF 189.7 million in the reporting year (previous year: CHF 167.0 million), comprising extraordinary organic growth of 22.2% and an exchange rate effect of –8.6%. The largest growth in percentage terms was again achieved by Casualfood, which was able to successfully convert increasing passenger frequency as well as open additional locations at Berlin Airport. In absolute terms, Culinor Food Group also grew, mainly due to good volume growth with continued encouraging performance of the new sales channels, coupled with necessary price increases triggered by higher local prices for raw materials and energy. Biotta’s sister company Gesa continued to benefit from the trend towards organic vegetable juices, while the high inflation rate, especially in France, significantly reduced demand for high-priced products at Spiess Europe.
The ORIOR Responsibility
On ORIOR’s recommendation, the Annual General Meeting voted to enshrine the importance of ESG (Environmental, Social and Governance) in the Company’s Articles of Association. Following this decision, the Board of Directors appointed an ESG Committee from among its members in autumn 2022. The main responsibility of this committee is to address the importance and relevance of ESG topics within a focused framework. In autumn, ORIOR was also ranked first in Good Corporate Governance by Inrate, and its good CDP “B” rating was also confirmed. The next GRI Sustainability Report will be published at the end of April 2023 and will provide information on all initiatives, measures and projects, as well as progress made on ESG issues.
Attractive dividend policy with steady increase in the absolute dividend confirmed
The Board of Directors will be putting forward a proposal to the Annual General Meeting on 19 April 2023 to distribute a dividend of CHF 2.50 per share (previous year: CHF 2.40). The proposed dividend consists of an ordinary dividend in the amount of CHF 1.85 from retained earnings (subject to withholding tax) and a dividend from the statutory contribution reserve (exempt from withholding tax) in the amount of CHF 0.65.
We expect continued broad-based organic growth for the current financial year, with the International segment remaining the main driver. In the Convenience segment, we anticipate good growth, and performance at or slightly above the previous year for the Refinement segment. Performance in the food service channel will continue to improve; on the product side we see good opportunities in the plant-based and fresh pasta categories. Travel volume will continue to pick up, and additional new Casualfood locations will be opened in 2023. Thanks to innovations, Culinor will continue to strengthen its channel expansions, opening up additional opportunities. At the same time, responsible price increases to reflect rising costs will also have a positive impact on the top line. Overall, the positive potentials are clearly predominant.
The guidance for the 2023 financial year includes a significant increase in net sales and absolute EBITDA growth. It also reflects the opportunities that can be anticipated based on current estimations in the context of a still challenging environment and its related uncertainties. Since input costs (energy and raw materials in general) and passing on price increases are important drivers on the margin side, they remain the focus of our measures.
Board of Directors
Rolf U. Sutter, Chairman of the Board of Directors of ORIOR AG, will – as previously communicated – not be standing for re-election. The Board of Directors of ORIOR AG will be proposing the election of Remo Brunschwiler as new Chairman at the Annual General Meeting on 19 April 2023. Remo Brunschwiler is a remarkable individual and possesses extensive national and international experience on high-level management committees and governing bodies. Additional information can be found on ORIOR’s website and will be included with the invitation to the Annual General Meeting.
Dr. iur. Markus R. Neuhaus will not be standing for re-election at the next Annual General Meeting on 19 April 2023. Chairman of the Board of Directors Rolf U. Sutter: “Markus Neuhaus is a highly competent and dedicated colleague and an outstanding asset to any Board of Directors. We wish him the very best for his other mandates. He deserves our sincerest gratitude for his extraordinary work on behalf of ORIOR.”
It was an immense pleasure to organise a unique Food Festival as part of ORIOR’s anniversary celebrations and express our gratitude to our employees, customers, suppliers and partners. From a business perspective, the past year was once again not an easy one. Front lines were further entrenched, fuelled by rising prices and inflationary pressures. At the same time, everyone is looking for good skilled workers. We would like to thank you, our valued employees, for your loyalty and commitment. Our customers and suppliers deserve our thanks as well for their willingness to work together with us to find suitable solutions. Special appreciation also extends to our valued shareholders for the trust they have placed in ORIOR.
After more than 24 years – including as CEO for 12 years and then as Chairman of the company for 12 years – Rolf U. Sutter is stepping down and can look back with pride on his many achievements. His passion, tireless commitment, foresight, strategic intuition, flair for identifying food trends, and his calm and measured leadership are the hallmarks of his accomplishments and his outstanding personality. “You shaped ORIOR in many significant ways over the past decades, and today it is an incomparable and truly unique food & beverage group. Thank you, Rolf!” Your ORIOR.
Annual General Meeting 2023
The next Annual General Meeting on 19 April 2023 will take place physically, unless there is any critical change to the current situation. The meeting will be held at The Hall (formerly Samsung Hall) in Dübendorf. All additional information will be sent out on 27 March 2023 with the invitation to the Annual General Meeting and will be updated on the website on an ongoing basis.
Invitation to video conference
Today, Wednesday 8 March 2023, CEO Daniel Lutz and CFO Andreas Lindner will take us through the 2022 financial results in a video conference.
Conference in English: Wednesday, 8 March 2023, 3:00 pm (CET)
Join via Teams: >> Click here to participate in the conference <<
Join via phone: +41 43 430 76 25 conference-ID: 340 238 034#
Conference in German: Wednesday, 8 March 2023, 10:00 am (CET)
Join via Teams: >> Click here to participate in the conference <<
Join via phone: +41 43 430 76 25 conference-ID: 139 125 491#
If you have any organisational questions about the video conference or problems with the link, please contact: Mara Bachmann, email@example.com, direct line +41 44 308 65 02
>> Full Year Report 2022
>> Alternative Performance Measures Full Year 2022
>> Presentation on Full Year results 2022
>> Media image gallery
Milena Mathiuet, Chief Corporate Affairs Officer
Phone +41 44 308 65 13, e-mail: firstname.lastname@example.org
8 March 2023: publication of 2022 financial results and Annual Report
27 March 2023: planned mailing of the invitation to the Annual General Meeting
13 April 2023: share register closes
19 April 2023: Annual General Meeting
21 April 2023: Ex date
25 April 2023: Pay date
23 August 2023: publication of 2023 Half-Year Results and Half-Year Report
Archive media releases:
- 24 November 2022 Ad hoc announcement ORIOR nominates new Chairman
- 16 August 2022 Ad hoc announcement ORIOR presents broad-based organic growth
- 5 April 2022 Ad hoc announcement Shareholders approve all proposals of the Board of Directors
- 2 March 2022 Ad hoc announcement ORIOR presents substantial improvement in operating results, in line with expectaions
- 17 August 2021 Ad hoc announcement ORIOR reports significantly better first-half results
- 26 April 2021 Ad hoc announcement Shareholders approve all proposals of the Board of Directors
- 10 March 2021 Ad hoc announcement ORIOR performs well in domestic Swiss market
- 9 November 2020 Ad hoc announcement ORIOR 2025 Strategy - Continuity. New Normal. Growth. Momentum.
- 19 August 2020 Ad hoc announcement ORIOR with good sales growth
- 14 July 2020 Ad hoc announcement Puplication revenues first-half - update coronavirus impact
- 18 June 2020 Ad hoc announcement Update on coronavirus impact and notice of first-half sales
- 4 June 2020 Ad hoc announcement Shareholders approve all proposals of the Board of Directors
- 8 April 2020 Ad hoc announcement Initial commentary on coronavirus impact
- 3 March 2020 Ad hoc announcement Postponement of AGM
- 26 February 2020 Ad hoc announcement ORIOR delivers on expectations and demonstrates good stability
- 22 January 2020 Ad hoc announcement Gebr. Heinemann and Casualfood with Smartseller joint venture
- 28 October 2019 Ad hoc announcement ORIOR welcomes its new CFO
- 4 September 2019 Ad hoc announcement ORIOR raises its interest in Casualfood
- 19 August 2019 Ad hoc announcement A good first-half 2019 for ORIOR
- 21 June 2019 Ad hoc announcement Statement by ORIOR
- 11 April 2019 Ad hoc announcement Shareholders approve all proposals of the Board of Directors
- 27 March 2019 Ad hoc announcement Change in ORIOR AG's Executive Committee
- 4 March 2019 Ad hoc announcement ORIOR looks back on a successful and strategically direction-setting year
- 27 November 2018 Ad hoc announcement Change in ORIOR AG's Executive Committee
- 19 November 2018 Ad hoc announcement Major shareholder
- 9 November 2018 Ad hoc announcement ORIOR welcomes new shareholders
- 17 October 2018 Ad hoc announcement Change in the Board of Directors and strengthened mgmt structure
- 4 September 2018 Ad hoc announcement ORIOR strengthens its food service and European business
- 22 August 2018 Ad hoc announcement ORIOR growing in every segment
- 13 June 2018 Ad hoc announcement ORIOR confirms the 2020 strategy - successful Investor Event (1)
- 5 June 2018 Ad hoc announcement Change in the Board of Directors
- 14 May 2018 Ad hoc announcement End result offer Thurella
- 25 April 2018 Ad hoc announcement Interim results offer Thurella
- 12 April 2018 Ad hoc announcement Shareholders approve all proposals of the Board of Directors
- 7 March 2018 Ad hoc announcement ORIOR successfully places 592,499 new shares
- 6 March 2018 Ad hoc announcement ORIOR launches a placement
- 1 March 2018 Ad hoc announcement Good year 2017 and expansion into the organic beverages business
- 31 August 2017 Ad hoc announcement ORIOR successfully issues a CHF 110 million bond
- 22 August 2017 Ad hoc announcement ORIOR with successful first-half
- 28 March 2017 Ad hoc announcement Shareholders approve all proposals of the Board of Directors
- 28 February 2017 Ad hoc announcement ORIOR with successful acquisition in Belgium and good performance