Upfield delivers on FY 22 targets, improves leverage and pays down some TLB – Q4 22 earnings review

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Upfield delivers on FY 22 targets, improves leverage and pays down some TLB – Q4 22 earnings review

Emmet Mc Nally's avatar
  1. Emmet Mc Nally
  2. +David Orbay-Graves
5 min read

Upfield (Flora Food) delivered on-target Q4 22 and FY 22 earnings yesterday evening (29 March), with revenue and EBITDA in line with expectations. Leverage came in below our estimates, and Q4 22 liquidity was such that the company could afford to repurchase a combined €250m-equivalent of their PLN-denominated and GBP-denominated TLBs in February.

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