Fri 12/23/2022 10:47 AM
French chilled dough and pancake maker Cerelia managed to narrow the gap to its earnings budget in September, helped by solid volume growth and improved cost pass-through. But the group remained free-cash-flow-negative due to continued difficulties in ramping up production at its new U.S. plant, sources said.
Volumes reached 21.5 million tonnes, which was 5.7% ahead of budget, while sales came in at €64.1 million in September, which was 2.9% ahead of €62.3 million budgeted. EBITDA of €4.82...
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