Ecotone September Adj. EBITDA Dips on Flat Sales; Working Capital Turns Free Cash Flow Negative; Performance to Remain Under Pressure From Continued High Costs, Customers Switching to Cheaper Brands

French organic food group Ecotone reported flat sales and a slight drop in adjusted EBITDA in September, driven by continued weak premium food consumption across Europe. Margins remain under pressure from higher costs, including for freight and energy, although the group has completed its second round of price increases now, which is helping to mitigate the impact. But revenue may continue to experience downward pressure as a result of customers switching to cheaper brands, investors...