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    ARYN   CH0043238366

ARYZTA AG

(ARYN)
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Delayed Swiss Exchange  -  11:31 2022-08-09 am EDT
1.071 CHF   -3.16%
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Ukrainian wheat finding its way onto market - Aryzta CEO

07/01/2022 | 12:12pm EDT
Russia's attack on Ukraine continues, in Donetsk region

ZURICH (Reuters) - Ukrainian wheat is finding its way onto world markets despite the Russian invasion, the head of Swiss baked goods group Aryzta said in a newspaper interview.

"At the moment, the quantities of grain are still there, they simply cannot be exported under Ukrainian control. But they find other ways onto the world market. Because grain is money, and money means weapons," CEO Urs Jordi said in an interview published on Friday by Swiss paper Finanz und Wirtschaft.

"When ships can leave the (blockaded Ukrainian) port of Odesa again in a controlled manner, prices will correct themselves to some extent. The decisive factor will be whether the farmers in Ukraine can sow winter wheat in autumn," he added.

Asked what would happen if that were not the case, he said: "Basically, we supply ourselves with local flour. But there would be a 30% shortage of wheat on the world market, and that would drive prices up further."

Ukraine's grain exports plunged 43% year-on-year to 1.41 million tonnes in June, the agriculture ministry said on Friday, but grain exports for the 2021-22 season ending June 30 rose 8.5% to 48.5 million tonnes, driven by strong shipments prior to the Feb. 24 invasion.

Wheat exports rose to 18.7 million tonnes in the 2021/22 season from 16.6 million a year earlier.

Ukraine has accused Russia of stealing grain from the territories that Russian forces have seized. The Kremlin has denied this.

(Reporting by Michael Shields; Editing by Mark Potter)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ARYZTA AG -3.16% 1.071 Delayed Quote.-3.07%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -1.08% 60.4669 Delayed Quote.-19.25%
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 0.26% 781.75 End-of-day quote.1.17%
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Financials
Sales 2022 1 687 M 1 726 M 1 726 M
Net income 2022 3,00 M 3,07 M 3,07 M
Net Debt 2022 911 M 931 M 931 M
P/E ratio 2022 36,6x
Yield 2022 -
Capitalization 1 090 M 1 114 M 1 114 M
EV / Sales 2022 1,19x
EV / Sales 2023 1,09x
Nbr of Employees 9 251
Free-Float 94,6%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 1,10 €
Average target price 1,27 €
Spread / Average Target 15,2%
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Managers and Directors
Urs Jordi Non-Executive Chairman & Chief Executive Officer
Martin Huber Group Chief Financial Officer
Alejandro Legarda Zaragüeta Independent Non-Executive Director
Heiner Kamps Independent Non-Executive Director
Gordon J. Hardie Independent Non-Executive Director
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