Vegetables & Fruits

Greenyard Adjusts EBITDA Up, Ahead of Full-Year Results Publication

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Based on updated audit results, vegetable and fruit products specialist Greenyard posted revised figures for the 2019-20 financial year on May 11. The adjusted EBITDA (pre-IFRS 16) result amounts to €95.7 million, just above the upper end of the revised guidance of €93 million to €95 million announced on April 17.

The Sint-Katelijne-Waver, Belgium-headquartered company reported that the “recovering adjusted EBITDA is primarily driven by a successful transformation and a rigorous implementation of a continuous improvement process.”

More detailed information and full financial data will be provided when financial year results are published on June 16.

With more than 8,500 employees operating in 25 countries worldwide, Greenyard packs and markets frozen, canned and fresh products to retail, foodservice and industrial clients. Annual sales are in the range of €4 billion.

The company’s shares, traded under the GREEN symbol on the Euronext Brussels exchange, closed at €5.25 on May 11, up 2.47% from the previous day. During the past 52 weeks price quotes have varied from a high of €6.94 to a low of €2.33.