Frozen and prepared fruit product sales have been “cornerstone elements” in Sint-Katelijne-Waver, Belgium-based Greenyard’s recent performance, shareholders were told during an extraordinary and annual sales meeting on September 17.
During the gathering in Antwerp, Co-CEO Hein Deprez focused on the “stable growth pillars” for the company’s future. Pointing out that not only is the expansion of the fruit and vegetable category linked to the trend toward more healthy lifestyles among consumers, but also the growth in the unique integrated relationships Greenyard has established with its buyers.
Co-CEO Marc Zwaaneveld reflected on the past financial year as a period of regained strength for the company, despite globally challenging economic circumstances caused by the ongoing coronavirus pandemic (SARS-CoV-2). Greenyard is at the heart of plant-based and healthy food solutions, he said, adding that the company in in a “unique position” in the food value chain, and has a “unique ability to combine fresh, frozen and prepared fruit and vegetables.”
Zwaaneveld added that the combination of these elements puts Greenyard in the forefront of the contemporary shift towards healthier lifestyles, rising plant-based consumption and an increasing need for more sustainable businesses.
Sustainability remains a key strategic and purposeful driver of Greenyard, said Deprez, who highlighted the company’s new Sustainability Report and its renewed ambitions regarding this topic.
CFO Geert Peeters elaborated on the results of the past financial year and gave shareholders a summary of the most important elements and figures from the annual report, including recent refinancing and the capital increase. He also underlined that despite the current cost inflationary environment, Greenyard remains “on course to reach earlier published guidance on adjusted EBITDA and leverage.”
The company’s H1 results and third quarter trading figures will be published on November 16. Meanwhile, it was announced on September 21 that Greenyard purchased 18,754 of its own shares between September 13 and 17. This results in aggregate holdings of 1,398,323 of its own stock, representing 2.71% of the total number of shares.
The Deprez Family, via Deprez Holding & Food Invest, has a shareholding of approximately 42% shareholding, while the free float amounts to about 31%.
