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Yo estoy dentro de hace un tiempo cerca los 29, menuda sorpresa la de hoy en apertura.
Parece que aún están perfilando las soluciones a sus problemas, a la vez que la subida de la moneda les afecta, su última adquisición CloverHill aún no está estable... pero bueno este enero y febrero parece que renuevan la dirección en USA etc etc
Demasiado bien estaba recuperando, a ver como se nos porta, cualquier opinión más profesional sera agradecida! un saludo

Zurich/Switzerland, 25 January 2018 –
ARYZTAreduces FY18 EBITDA guidance and updates on deleveraging progress
ARYZTA in its 27 November 2017 Q1 Revenue Update guided that, with ARYZTA
facing a range of internal and external challenges, management’s best current
estimate was that FY18 EBITDA was expected to be broadly in line with FY17
EBITDA.
ARYZTA now needs to update that guidance. Management’s current best estimate
is that FY18 EBITDA, on a like for like basis excluding FX and disposals, is likely to
be c. 15% below that of FY17 (20% on a reported basis). While revenue, exclud
-ing Cloverhill, is relatively stable, EBITDA weakened towards the end of Q2 in both
Europe and US, with this trend not expected to reverse for the remainder of FY18.
Europe
European underperformance is estimated to account for c. 20% of the anticipated
shortfall relative to expectations. There has been good progress on butter price
recovery and the improvements in capacity utilisation in Germany are on track.
However, this progress is not expected to be sufficient to offset the volume and
associated margin lost to timing of insourcing and the impact of Brexit-related
pressures on our UK business remains.
North America
US revenue, excluding Cloverhill, is continuing to stabilise as previously indicated
and Canada continues to perform well. However, EBITDA performance of ARYZTA’s
US business excluding Cloverhill is underperfoming expectations. The factors
contributing to the variance – double digit inflation in distribution costs, higher
than expected labour costs in a continuing tightening US labour market - are more
significant than expected. In addition, a range of performance improvement
actions, including price increases, reductions in SG&A cost and brand investment,
while begining to generate savings are behind delivery plan. The recently appoint
-ed CEO of North America together with a newly constituted Group management
team are fully focused on dealing with these challenges.
Rest of World
Rest of World is progressing as planned.
Bank Refinancing
ARYZTA’s successful refinancing ensures the Group continues to be covenant
compliant.
Cash Generation & Deleveraging
ARYZTA previously set a 4-year, €1 billion deleveraging target and expects to
generate more than €450m by year-end FY18 from non-core asset disposals.
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