Greenyard's fresh division drives Q1 sales growth

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Greenyard's fresh division drives Q1 sales growth

Belgium-based multinational Greenyard achieved strong sales growth in its first financial quarter, driven by its Fresh business segment.

The company's total sales grew by 11.4% year-on-year to €1,149.3m, with the volume increase in Fresh generating more than €100m extra sales.

Greenyard said the growth is mainly driven by faster-than-expected organic growth in a large number of its commercial relationships, with a focus on margin improvement and profitability.

In addition, there was a positive impact from the Covid-19 pandemic on volumes in a period when out-of-home consumption of fruits and vegetables was replaced by at-home consumption, it said.

Fresh sales increased in Q1 from €849.4m last year to € 959.0m (+ 12.9%).

There was a slight increase in sales in the Long Fresh segment - which included canned and preserved products - despite negative Covid-19 impact on volume.

The Long Fresh segment also grew steadily, despite the loss of volumes in the foodservice and industry customer segment due to Covid-19.

Long Fresh sales increased by 4.6% from €181.9m last year to € 190.3m.

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