Sint-Katelijne-Waver, Belgium-headquartered Greenyard has reported net sales of €1,178.2 million in the first quarter of the financial year, up 4.8% from € 1,123.9 million generated during the same period in 2021. Growth was positive in both fresh and long fresh segments.
In the fresh vegetable and fruit sector, net sales increased by 3.2% during Q1, rising from € 952.3 million to € 982.3 million. In a market where volumes are naturally rebalancing after the post-covid crisis reopening of restaurants and other out-of-home dining venues, and due to strong macro-economic headwinds for end-consumers, Greenyard was able to bolster and grow its market share in core markets.
Within the global context of fresh fruit and vegetables, inflation is only one of the parameters in the total price setting. Others include crop yields, harvesting conditions and availability. With these factors combined, some categories are less, or even not, impacted. Grapes and avocados, for example, decreased in price due to an oversupply in the market.
In the long fresh segment, which include frozen and canned convenience products, net sales grew by 14.2% from €171.6 million to €195.9 million. Sales grew predominantly thanks to a further recovery of the foodservice and food industry segments. Also, there is further growth in Greenyard’s convenience products, which cater to today’s consumer demand for healthy products available to consume in an easy and accessible way.
“Throughout the past periods, and looking forward, the company continues to thoroughly monitor the market and adjust its pricing to match the rising input costs in the new economic reality,” according to a press release issued on August 29. “Greenyard remains confident that it will achieve its ambitions and financial goals to reach €5 billion sales and an Adjusted EBITDA of between €200-210 million by 2024/25.”
