Decisive action to improve performance in Germany Second French bolt-on acquisition completed Year end 2026 guidance

The plan is expected to require one-time costs of c. €56-61m both cash and non-cash, with a pay-back of less than two years for the cash element. As part of the plan, ARYZTA will simplify its German product portfolio by exiting lowervolume and structurally less profitable products and lines. This may result in a modest sales reduction in German revenue of c. €35-40m during implementation. ARYZTA will work closely with customers to transition to alternative products, while continued growth in other markets and channels is expected to partly offset the impact.

Once fully implemented, the measures are expected to materially improve German EBITDA margins and contribute c. 60-80 bps to the Group EBITDA margin. Implementation will take place mainly in 2026 and 2027, with the related provision recognised in the 2026 financial year.

ARYZTA recognizes the impact these decisions will have on affected employees and will manage the restructuring process responsibly and in accordance with all its obligations.

ARYZTA also announces that its French Coup de Pates (CdP) business has acquired 100% of Frigegro, a frozen-products distributor in the Limoges region. Frigegro has been an exclusive independent distributor of the ARYZTA, Coup de Pates and La Carte d'Hubert brands in Limoges and the surrounding area since 1994. ARYZTA has now completed two bolt-on acquisitions in France this year which are expected to add approximately €35–40m of annualised revenue to the Group. This acquisition strengthens ARYZTA’s position in the French market while widening its base for future growth.

ARYZTA confirms its intention to re-commence capital returns in 2027. This is underpinned by the Group’s expectation to deliver c. €300m of EBITDA and c. €100m of free cash flow in the 2026 financial year, despite a challenging inflationary and consumer environment. These expectations are stated before one-time costs.

In addition, total financing costs for 2026 are now expected to be below the lower end of the previous guidance range of €37–40m.

ARYZTA AG Chairman and Interim CEO Urs Jordi commented: “Consolidating production at Eisleben and simplifying our product portfolio will make our German operations more efficient and bring profitability closer to the levels achieved in our other European bakery businesses. At the same time, our second bolt-on acquisition in France demonstrates our disciplined approach to capital allocation, by investing selectively in attractive products, geographies and channels. This is consistent with our focus on premium bakery, foodservice and QSR growth, particularly outside Germany. We are taking these steps from a position of financial strength. Progress on costs and operational efficiency supports our 2026 performance expectations and our intention to recommence shareholder returns in 2027.”

Investor Enquiries:
Paul Meade, Head of Investor Relations, ARYZTA AG
M: +353 87 065 5368
info@aryzta.com

Media Enquiries:
Andreas Hildenbrand, Lemongrass Communications
M: +41 79 468 92 35
andreas.hildenbrand@lemongrass.agency