Greenyard Half-Year Results: Strong Performance & Confirmed Ambitions

Greenyard Half-Year Results: Strong Performance & Confirmed Ambitions

Greenyard has delivered strong results in the first half of the 2023/24 financial year, with increased volumes, total sales, EBITDA, and EBITDA margin. The strong operational result, combined with strict control over working capital, ensured a continued low debt and leverage ratio, decreasing from 2,7x to 2,4x year-on-year. Greenyard's half-year results confirm the company's strong operational performance and its commitment to its long-term ambitions.

For the full year 2023/24, Greenyard confirms its ambition to reach € 175 - € 180m of Adjusted EBITDA and € 4,9 billion of net sales. Greenyard also confirms its ambitions of reaching € 5,4 billion of sales and between € 200 - € 210m of Adjusted EBITDA by March 2026.

CFO Nicolas De Clercq commented: Having recently joined the company as Group CFO, it is good to see a strong performance, particularly in challenging market conditions. Volumes grew further and inflation effects are being mitigated within the group, creating a platform for further growth in profitability and cash flow. The pure-plant experiences Greenyard can bring with its three divisions are clearly bringing value for our customers and their consumers.

Greenyard is in a unique position in the food value chain, and thus also in a strong position for continued growth. The company is right at the heart of a market that is bound to grow.  It has a strong portfolio of products, a global reach, and a commitment to innovation. With a clear shift towards more pure-plant food solutions, Greenyard is ready to capitalize on the growing demand for healthy, nutritious and sustainable food products.

Read Greenyard’s full HY report by clicking here.

HY Results 2023-2024 in a nutshell

  • Like-for-like (LfL) Net Sales increased by 11,2%, driven by Fresh volume growth and inflation compensating actions in both segments. Volumes grew by 1,7%, while prices increased by 9,5%.
  • Adjusted EBITDA increased by 12,3%, even faster than Net Sales.
  • Adjusted EBITDA margin increased by 13 basis points to 3,6%.
  • Net result remained stable at € 7,0m, impacted by higher interest costs and depreciations.