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Kraft Heinz: raises adjusted EBITDA guidance for 2022

( - On Wednesday Kraft Heinz raised its FY EBITDA target after reporting "solid" Q3 results.

The US agrifood giant said it was now targeting FY adjusted EBITDA of 5.9 to 6 billion dollars, up from a previous forecast range of 5.8 to 6 billion dollars.

Q3 adjusted Ebitda fell by 5.5% to 1.4 billion dollars due to a reduction in the scope of its activities and unfavourable FX factors.

The group believes that it has benefited from price increases, designed to protect against inflationary effects - both in the supply chain and for raw materials.

Net sales rose by 2.9% to 6.5 billion dollars over the quarter, with organic growth of 11.6%, mainly due to a positive price effect of 15.4%.

Excluding non-recurrent items, adjusted net profit was 0.63 dollar per share, exceeding the consensus of 0.56 dollar.

Following these figures, the shares of the maker of Heinz ketchup rose by over 3% in pre-market trading.

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