Milling & Baking News - December 9, 2014 - (Page 16)

Financial Results Charges bog down Post profit; adjusted EBITDA up sharply ST. LOUIS - Post Holdings, Inc. sustained a loss of $358.6 million in the fiscal year ended Sept. 30, which compared with income of $9.8 million, equal to 30c per share on the common stock, in fiscal 2013. Adjusted EBITDA, however, increased 59% to $344.5 million from $216.7 million. Net sales increased 133% to $2,411.1 million from $1,034.1 million. Acquisitions contributed $1,448 million to sales during fiscal 2014, Post said. Within the Post Foods unit, which includes the Post branded ready-toeat cereal business, segment profit was $186.7 million, down from $187.4 million, in fiscal 2013. Net sales for the segment eased 2% to $963.1 million from $982.8 million. For the 52 weeks ended Sept. 27, Post Foods' U.S. dollar market share was 11%, up 0.6 share points compared with the prior year. For the same time period, Post Foods said its U.S. dollar consumption sales were up 1% compared with the prior year. "While we have stabilized our cereal business, the category itself remains challenged, and it resulted in a reduction in the long-term growth rates that underlie the fair value calculation," Rob Vitale, president and chief 'While we have stabilized our cereal business, the category itself remains challenged.' Milling the highest quality wheat in the heart of the Canadian Prairies. NutraSun Foods Ltd. is located in the heart of Canada's wheat belt, milling the highest quality organic and conventional flour. We use our direct access to the world's best grains to produce flour, dough conditioner, and whole grain products for the North American market. (204) 926-9566 16 / December 9, 2014 Milling & Baking News - Rob Vitale, president and chief executive officer, Post Holdings, Inc. executive officer, said during a Nov. 25 conference call with analysts. "In fact, our F.Y. 15 plan assumes a 4% category decline." Post completed its final production run out of its Modesto, Calif., facility at the end of August and is on track to achieve total net pre-tax annual cash savings of approximately $14 million, fully phased in with fiscal year 2015. Post said it sustained a segment loss of $1.8 million in its Active Nutrition unit during fiscal 2014, which compared with a profit of $1 million in fiscal 2013. Net sales jumped to $293.3 million from $13.9 million during the year. "The Active Nutrition brands ... had mixed performances in the quarter," Mr. Vitale said. "Premier Nutrition continues to grow rapidly with sales up 24% year over year. However, profitability was hit by high milk protein concentrate costs. While these costs have declined recently, our inventory cycle takes 60 to 90 days before the lower priced inventory is realized in the P&L. "We continue to struggle with Dymatize. The business has been reestablished as a standalone unit to get the maximum focus, and we have named a general manager dedicated solely to this business. At the start of the fourth quarter, we moved a significant portion of the Dymatize international /

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