Fresh produce firm Greenyard has decided to reinstate its dividend policy based on the preliminary consolidated full-year results for its 2022/2023 financial year ended March 2023.
The board of directors of Greenyard will propose a dividend of €0.10 per share for this period to the general meeting of shareholders on 15 September 2023.
The Belgian company will publish its audited 2022/2023 full-year financial results on 14 June.
For the current financial year, Greenyard expects net sales of around €4.9 billion and adjusted EBITDA to range between €175-180 million.
According to preliminary data, like-for-like net sales increased by around 8% year-on-year, to around €4.6 billion, in its financial year 2022/2023..
Adjusted EBITDA for the financial year amounted to around €167 million - a level just above last year.
The net financial debt of the group (pre-IFRS 16) has decreased to around €280 million from €304 million in the previous financial year.
As a result, the leverage ratio is expected to drop from 2.4x to 2.2x as of the end of the financial year 2022/2023.
In January of this year, Greenyard announced that it converted all its existing bank loans under its senior facility agreement into sustainability-linked loans with focus on three areas: climate change action, water usage, and responsible sourcing.
Greenyard CFO, Geert Peeters commented, "This important step demonstrates, once more, that sustainability is an integral part of all our decision-making processes We translated our sustainability ambitions into concrete targets for the coming years and we are committed, disciplined, and motivated to achieve them."
©2023 European Supermarket Magazine – your source for the latest fresh produce news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.