Fruit and vegetable company Greenyard expects to have recorded gross profit (EBITDA) of approximately EUR 116 to 117 million in the financial year that ran until the end of March. In September it was still expected from 106 to 110 million euros, which was an increase even then.
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Greenyard has had difficult years with high debts. But in March, the company found with Marc Coucke a new investor. The businessman invests nearly 50 million euros. Greenyard also received support from its banks and a guarantee from the investment fund Gigarant from the Flemish government to refinance the outstanding debt.
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Now Greenyard has gone into high gear, the company says. “The last quarter (January-March, ed.) showed strong growth and increasing acceleration of the underlying business, in particular through volume growth resulting from long-term customer relationships. “In addition, a more aligned supply chain and further cost control are also contributing to this result.”
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With an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of 116 to 117 million euros in the 2020/2021 financial year, Greenyard would do a lot better than the 95.7 million euros of the previous year.
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The company provides full annual figures on June 15.
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