For the first time ever, fruit and vegetable trader Greenyard surpassed the 4 billion euro turnover mark. One-time costs did nearly wipe out its entire net profit.
Debt reshufflement
Greenyard’s total turnover reached 4.25 billion euro in its fiscal year 2016, which ended on 31 March 2017, up 7.1 % compared to the year before. The largest part, 5.3 %, was from internal sources and another 2.7 % came from acquisitions. Its rebitda also grew 7 % to 145.7 million euro.
Its net profit did drop 95.9 % to 700,000 euro, because of a debt reshufflement and its costs at the end of 2016. It was forced to pay off 18 million euro in old bonds, but did manage to lower costs by 15 million euro annually. Excluding these one-time costs, profit would have reached 21.9 million euro.
