Valora Holding AG / Keywords: Various
Valora with significant operational improvement in H1 2022
Valora expects external sales to be approximately 20% higher in the first half of 2022 than in the same period last year and EBIT to be slightly higher on a cyclical basis. Business was still heavily influenced by the Omikron COVID-19 variant, especially in the first quarter of 2022. The half-year result is based on a significant operating improvement. During the reporting period, Valora successfully made progress in implementing its foodvenience strategy. The Group expects to be able to confirm the EBIT 2022 guidelines (excluding costs related to mergers and acquisitions) with the publication of the half-year 2022 results on July 20, 2022.
Valora expects external sales in the first half of 2022 to be approximately 20% higher than in the corresponding period last year at CHF 1,030.4 million, despite the serious impact of the pandemic on the Group’s operations. Omikron-related restrictions have dominated the retail and catering sector, especially in the first quarter of 2022. However, since official restrictions were gradually lifted, Valora has experienced a strong recovery in the past two months.
The EBIT achieved in the first half of 2022 on a recurring basis is expected to be slightly higher than the EBIT of CHF 7.4 million in the first half of 2021. The expected EBIT result is evidence of Valora’s continual operational improvement. This takes into account the increased inflationary pressure and geopolitical turbulence, as well as the fact that the EBIT for H1 2021 included one-off maintenance payments related to Corona in the amount of approximately CHF 30 million. The latter will be fully compensated in the first half of 2022.
During the reporting period, Valora successfully implemented its foodvenience strategy. This is reflected in the acquisition of Frittenwerk, which was completed on July 1, 2022, and the expansion of cooperation with Oel-Pool to the gradual acquisition of 71 stores at gas stations, which is expected to take place in April 2023.
Given recent strong sales figures, Valora estimates external sales throughout 2022, including the latest strategic initiatives, will be at pre-krona levels. The Group expects to be able to confirm the EBIT forecast for the entire year 2022 (excluding costs related to mergers and acquisitions) when it publishes the results for H1 2022 on July 20, 2022.
Every day, around 15,000 Valora employees work to bring happiness to people on the move with a comprehensive range of food products that are available nearby, fast, practical and fresh. Valory’s approximately 2,700 small sales outlets are located in busy locations in Switzerland, Germany, Austria, Luxembourg and the Netherlands. The company includes kiosk, Brezelkönig, BackWerk, Ditsch, Press & Books, avec, Caffè Spettacolo and the popular own brand approx. As well as an ever-growing range of digital services. Valora also operates one of the world’s leading pretzel plants and benefits from a highly integrated bakery value chain. Valora generated external sales of CHF 2.2 billion in 2021. The group’s headquarters are in Muttenz, Switzerland. The registered shares of Valora Holding AG (VALN) are listed on the SIX Swiss Exchange AG.
More information at www.valora.com.
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This document contains forward-looking statements that deal with matters that are not historical facts or cannot be otherwise verified by reference to past events. Forward-looking statements are based on our current expectations and assumptions and are subject to uncertainty, as well as known and unknown risks. These uncertainties and risks, as well as other factors, may mean that future actual events and changes, including Valora’s results, financial position and development, differ materially from those expressly or implicitly mentioned or accepted in the forward-looking statements. The information, opinions and forward-looking statements contained in this document are accurate as of the date of publication only. Valora makes no commitment to review or update any forward-looking statements, whether as a result of new information, future events or otherwise. This information does not constitute a recommendation to buy any securities.