Greenyard's Full-Year Sales Hit By Volume Declines, Weather Impact
Fresh-produce firm Greenyard posted a 4.6% decline in full-year sales in its Fresh division in 2018/19, to €3.19 billion, with the retailer citing lower volumes, as well as the impact of ‘extreme summer weather’ on its production.
The group reported that volumes in the division were lower in its key markets, mainly in Germany and, to a lesser extent, Belgium, while price deflation also affected certain categories.
Adjusted EBITDA in the division was down by almost two thirds (-65.7%).
On the positive side, Greenyard reported that its Fresh division has benefitted from its partnership models, both in terms of sales and margin. Since its full-year period ended on 31 March, the group has closed additional partnerships with Carrefour and Delhaize, it reported.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!