Greenyard stays strong in profitability and volumes

Belgian global produce supplier Greenyard has increased its market shares of fresh produce, showing an upward trend in both profitability and volumes. 

Sales increased 7% year-on-year to €2.27billion, surpassing  its first quarter growth of 4.8%. The Fresh and Long Fresh segments by 6% and 15%, respectively.

“The current economic circumstances have led the average per capita consumption to remain well below the WHO minimum recommendations of 400gr/capita/day. Today, we truly have an exceptional momentum to unleash the full power of fruit and vegetables,” said Greenyard’s Co-CEO Hein Deprez. 

The executive also said that “fruit and vegetables have a minimal impact on purchasing power. In the consumers’ food baskets, the inflationary impact on these products has been lagging. Even more than before, now is the time to increase consumption of fruit and vegetables, to the benefit of people and the planet.”

Greenyard’s Adjusted EBITDA is in line with last year, at € 80.,4 million versus € 82.,6 million in 2021. Thus, it overcame lower market volumes, high inflation, higher energy, transport, and labor costs, all weighing heavily on the entire sector’s profitability.

This comes as the produce market remains severely impacted by unprecedented macro-economic and geopolitical turmoil. However, Greenyard has managed to stay strong and secure better results than the industry trend.

“These are unprecedented times. We are living the global consequences of macro-economic and geopolitical turmoil, which is affecting economies, supply chains and businesses across the globe. Despite the pressure on businesses, Greenyard has shown the ability to leverage its strong, central position in the food value chain,” said Co-CEO Marc Zwaaneveld.