After an already solid financial 2020, Belgian fruit and vegetables giant Greenyard continues its growth in the new financial year.
Stable margins
Between April and June, Greenyard’s turnover rose by 1.9 % to 1.17 billion euros. The ‘Fresh’ division grew by 1.2 % to 970.2 million euros. Three-quarters of the revenue in this segment was derived from the integrated customer model with its retail customers. This resulted in a stable margin, states the company in a press release.
‘Long Fresh’ grew by 5.4 %. Due to the phasing out of Covid measures, the food service share increased from 17 % to 25 %. Greenyard also benefited from an improved product mix: convenience products and (frozen) fruit now account for 31 % of total business sales.
At the publication of the annual figures in June, Greenyard already raised its profit forecast for the full financial year. The fruit and vegetable group expects an adjusted EBITDA of 165 million euros for 2021-2022.
