Greenyard Sees Sales Up In Full Year, Volumes Down Slightly

By Steve Wynne-Jones
Share this article
Greenyard Sees Sales Up In Full Year, Volumes Down Slightly

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.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.