The Swiss food company based in Clondalkin
‘Challenging’ first half of 2026 for Cuisine de France owners Aryzta
GRANGE Castle-based Cuisine de France’s owner Aryzta endured a “challenging” first half of 2026 as revenue fell.
The Swiss food business company that owns the Dublin bakery company based in Clondalkin had their revenue fall by 2.7 per cent to €1.06 billion in the first six months of 2026, primarily affected by volume/mix.
A solid growth in markets across the world was more than offset by weaker performance in Europe, especially in Germany.
In Europe, revenue was €942.7m, with organic loss of -3.4 per cent and Germany’s high price sensitivity was singled out by the company, which offset other markets’ growth – in Rest of World, revenue was €121.2m, with organic growth of 2.7 per cent
ARYZTA AG Chairman and Interim Group CEO Urs Jordi commented: “While H1 was challenging, we accelerated cost optimisation measures to protect profitability.
“These measures are delivering attractive savings and, together with good visibility on our key input costs, support our confidence in achieving our profitability guidance for the full year.
“German underperformance offset growth in other key markets. We are reviewing all options for Germany to maximise shareholder value.”
Figures in Germany also reflect fragile consumer spending and some additional bakery capacity, which is impacting the market supply/demand balance, according to Aryzta.
EBITDA amounted to €139.9m, corresponding to a margin of 13.2 per cent, a decline but the absorption of €5.4m of one-time costs is noted, with more expected in the second half of the year.
Project Exellence, the company’s multi-year cost optimisation and operational efficiency program targeting €20m to €30m in net savings by 2028, was touted as the reason for the one-time costs.
Total net debt (including hybrid funding) declined to €789m, compared to €886m at June 30, 2025 and €802m on December 31, 2025.
For 2026, Aryzta is now expecting financing costs to be at the lower end of the revised €37–40m range, reduced from the previous €40–43m guidance range.
