Belgian fruit and vegetable producer Greenyard has seen its turnover lifted by 11.4 % in the first quarter, as the pandemic made people buy more fresh produce as well as stockpile canned and frozen foods.
More fresh produce
Greenyard is one of the few companies to include a positive Covid-impact into its financial results: turnover went up by 11.4 % to 1.15 billion euros. As many people saw the lockdown as an opportunity to cook more healthy meals at home, the company was secure 100 million euros in extra volume of fresh produce sales. Turnover from the category ‘Fresh’ went up 12.9 % to 959 million euros.
Turnover in frozen and canned foods was lifted 4.6 % to 190.3 million euros, as the complete disappearance of sales to restaurants and industrial kitchens was more than compensated by the stockpiling of frozen foods at the beginning of the lockdowns.
The company believes this growth to be sustainable, despite the uniqueness of the pandemic: it believes a large number of long-term commercial partnerships were cemented by the crisis. Belgian supermarket chain Delhaize, for example, announced to buy 80 % of its fruit and vegetable at Greenyard from now on.
