Milling & Baking News - December 9, 2014 - (Page 17)

Financial Results nut butter and fruit and nut businesses, as well as the cereal, granola and snack businesses of Attune Foods. Post expects to incur onetime expenses between $5 million and $6 million in the first quarter of fiscal 2015 associated with the reorganization. Looking ahead to fiscal 2015, Post said it expects fiscal 2015 adjusted EBITDA to be between $540 million and $580 million, with adjusted EBITDA in the first quarter of fiscal 2015 expected to be between $115 million and $120 million. The production to a co-manufacturer. We company said it expects to be adare continuing to make investments versely affected by several factors to improve Dymatize's manufacturing during the first quarter, including and supply chain processes. We expect weakness in R.-T.-E. cereal net sales, to move the co-manufactured producwhich are expected to decline betion back in-house in mid F.Y. 15. This tween $15 million and $20 million, should improve margins, but we excompared to the first quarpect Dymatize to underperter of fiscal 2014. form until the end of F.Y. 15." Post Holdings, Inc. share price But Post management exAttune Foods, which manu$60 pects to meaningfully outfactures and distributes brandperform the prior year on a ed and private label premium comparable basis in the last natural and organic cereals, $50 nine months of fiscal 2015. snacks and granola, had an The company said it exoperating profit of $8.7 million $40 pects to benefit from several in fiscal 2014, up 248% from factors, including Michael $2.5 million in fiscal 2013. Net Foods cycling weak priorsales also were sharply higher, $30 year periods with volumes climbing to $93.9 million from Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. continuing to grow while in$37.8 million. 2014 put costs moderate; phasing Michael Foods, which manufactures and distributes value- closed the acquisition of American in anticipated synergies associated with Michael Foods; and R.-T.-E. added egg products and refrigerated Blanching Co. On Oct. 9, Post announced it had cereal adjusted EBITDA is expected potato products, posted a profit of $17.4 million in fiscal 2014 on sales realigned its organization for fiscal to be flat, as continued category volof $684.8 million. Meanwhile, Post's 2015 and now operates three distinct ume declines will be offset by lower Private Brands segment had a profit groups: Consumer Brands, Michael operational expenses. Post management expects fiscal of $14.8 million on sales of $377.4 Foods and Private Label. The Conmillion. Neither segment had results sumer Brands Group includes the 2015 capital expenditures to be bePost Foods cereal and active nutri- tween $115 million and $125 milto compare to fiscal 2013. "Michael had a solid quarter com- tion brands of the Premier Nutrition lion. This reflects approximately $40 ing in with adjusted EBITDA just un- and Dymatize businesses, as well as million related to growth activities, der $65 million," Mr. Vitale said. "We PowerBar and Musashi. The Michael mostly at Michael Foods for projsaw strong volume growth across Foods Group includes the Michael ects carried over from the prior year, products and channels. Michael's Foods egg, potato and cheese busi- which are expected to be completed strong quarter comes despite a mod- nesses as well as the Dakota Grow- in the first half of fiscal 2015. Mainest shortfall in grain-based supply ers pasta business. The Private Label tenance capital expenditures are exversus grain-based demand. Grain- Group includes the Golden Boy and pected to be between $75 million and based demand has grown faster than American Blanching peanut and tree $85 million. MBN per share expected, a very positive sign for the prospects of the company. However, in the near term, we are sourcing grain-based demand on the spot market, which currently is higher than our grain-based price. We are adding grainbased supply, and it will come on-line late fiscal year. Again, while this puts a very near-term pressure on margins, it is a very healthy sign for the business." Post completed the acquisition of the PowerBar and Musashi brands and related worldwide assets from Nestle S.A. on Oct. 1, and on Nov. 3 Aryzta revenue in North America grows through acquisitions ZURICH, SWITZERLAND - Two acquisitions completed this year were major factors in Aryzta Food North America posting 30.5% revenue growth in the first quarter ended Oct. 31. Acquisitions, including Pineridge Bakery and Cloverhill Bakery, / contributed 31.2% of the Food North America revenue growth while currency contributed 2.5%. Underlying revenue growth declined by 3.2% as Food North America revenue came in at €475.5 million ($589.7 million) in the quarter. A stock-keeping unit (s.k.u.) rationalization process in North America continues to aim at freeing up capacity for larger customers and optimizing medium-term margin delivery. Companywide, total Food Group revenue was €937.8 million ($1,163.1 million) due to 17.8% growth, Zurichbased Aryzta AG said when giving results Dec. 2. Underlying revenue growth increased by 0.5%. MBN Milling & Baking News December 9, 2014 / 17

Table of Contents for the Digital Edition of Milling & Baking News - December 9, 2014

Milling & Baking News - December 9, 2014
January-September flour output sets new record, rises 0.9%
Consumer Reports casts doubts on merits of gluten-free diet
Late News - Reading to double facility’s size
Table of Contents
News Comment - Finally, commodity relief for grain-based foods
Editorial - India agreement offers hope for W.T.O.
Late News
Luna shifting line of bars to gluten-free ingredients
Business - Fire damages Canada Bread baking plant in Ontario
Girl Scout Cookies enter digital age
Sosland Publishing relocating company headquarters
Cargill reaches settlement, to change labels in Truvia case
C.H. Robinson to acquire Freightquote for $365 million
Financial Results - Campbell Soup baking unit profits strong; U.S. business soft
Charges bog down Post profit; adjusted EBITDA up sharply
Aryzta revenue in North America grows through acquisitions
ADM growth plans include Wild and Brazilian oilseeds
Input costs, plant start-up costs hinder Weston Foods
People - Mayo Schmidt to join Louis Dreyfus as c.e.o.
George Deese to retire as executive chairman at Flowers
Ready-to-eat Cereal Update - Cereal makers seek fresh start
Regulatory Affairs - Air emission calculation for particulate matter: Flour
Industry Activities - Wild, wild East: NAMA given ‘tour’ of Southeast Asia milling industry
AIB names new director of food safety services innovation
Nutrition and Health - USA Rice Federation disputes latest arsenic report
Supplier Innovations
Ingredient Market Trends - Grain volume requirements for Canadian railroads extended
Ingredient Week
Marketplace Business Network
Ad Index

Milling & Baking News - December 9, 2014