Prepared fresh produce firm Greenyard has reported a 7.9% increase in like-for-like sales in its 2022/23 financial year, to €4.64 billion, with volumes down 0.8% and pricing up 8.5%.
The Belgian group said that it 'outperformed the market in fruit and vegetables', given that per capita consumption of fruit and vegetables fell by 10% in 2022.
In its Fresh segment, Greenyard saw its volumes drop 1.9%, while in the Long Fresh segment, volumes rose by 4.5%.
EBITDA Performance
Adjusted EBITDA rose slightly (+0.5%) to €167.3 million, driven by the company's 'robust business model' and 'agile approach' in an inflationary environment, it said.
“These are very positive results in such a difficult economic year, once again proving the unique strength of Integrated Customer Relationships and the complementarity of our divisions," commented Marc Zwaaneveld, co-CEO.
Read More: Greenyard To Acquire Frozen Startup Gigi Gelato
The Year Ahead
Looking ahead to the coming year, Greenyard said that it expects adjusted EBITDA to stand at between €175 million and €180 million, while net sales are expected to come in at €4.9 billion.
It added that it expects to reach sales of €5.4 billion and adjusted EBITDA of €200 million to €210 million by 2026.
"We look ahead with confidence, even in uncertain times," Zwaaneveld added. As we move forward, we remain resolute to achieving sustainable growth and creating long-term value for everyone in the food value chain, and for all our stakeholders. With a strong relative market position, we are ready for a healthy future for all.”
Read More: Greenyard Converts All Its Bank Loans To Sustainability-Linked Loans
© 2023 European Supermarket Magazine – your source for the latest fresh-produce news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
