Sales for the year climbed, driven by volume increases and price rises, while the group’s net result jumped 63 per cent

Greenyard has reported on improved yearly results across the board for 2023/24, with the group looking back on what it called a “record-high” 12 months.

Francis Kint Greenyard 2023

Francis Kint

Net sales rose 10.9 per cent on a like-for-like basis to €5.1bn, crossing €5bn for the first time in the company’s 40-year history.

The Belgian group saw adjusted EBITDA grow 11.5 per cent to €186.5m, with net financial debt dropping 4 per cent to €266.3m.

The company’s net result soared by 63 per cent, from €9.3m in 2022/23 to €15.2m.

“We are very proud to realise these results in a challenging environment, characterised by a second year of inflation,” said CEO Francis Kint. ”Greenyard improved both in volume and prices.

”The Long Fresh segment (frozen and ambient fruit and vegetable product categories) reached sales just shy of the €1bn sales mark, whilst further strengthening the operational profitability margin.

”In turn, the Fresh segment has continued to expand its business with key Integrated Customer Relationships,” he continued.

”Both segments benefit from the trend of consumers seeking to increase the intake of fruit and vegetables in all its forms, to eat healthier and consume food that is produced in sustainable food chains,” Kint outlined.

“The achievements during this fiscal year and our plans to increase margins by focusing even more on our strongest business units, makes us confident to reach the €200m-€ 210m Adjusted EBITDA level by full year 2025/26.”