Last year, Greenyard’s net sales increased by 7% in nine months
For the first nine months of the 2022 financial year, Greenyard increased its year-on-year net sales by 7.2%.
The company's net sales ascended to USD$3.6 billion, compared to $3.1 billion the previous year. During the third quarter of the financial year, which ended on Dec. 31, 2022, net sales were USD$1.1 billion, a 6.8% increase from the third quarter year-on-year.
For the third quarter of the financial year, net sales grew by 3.9%. During the first nine months of the financial year, net sales grew by 5.3%.
Considering the return to out-of-home consumption and lower consumer purchasing power, Freshfel had estimated that the average European consumption per capita/day of fresh produce would decline by 10% during 2022 compared to 2021.
This projection caused pressure on total volumes, premium products, and certain segments, such as organic, even though price increases in the fresh fruit and vegetable categories are amongst the lowest in the food segment.
Greenyard’s Fresh segment shows 6.5% higher volumes than pre-Covid numbers. Particularly in its core markets (Belgium, the Netherlands, and Germany), Greenyard is therefore improving its relative position.
The expectation is that, in the medium term, prices will rightfully reflect the complexity and true costs in the chain. In parallel, volumes will recover, if the trend of consumers searching for healthy diets continues.
The last quarter saw net sales grow by 19.3%. During the last quarter, net sales accelerated as Long Fresh’s net sales for the first nine months grew by 16,3% from USD$577 million to USD$ 671,8 million. Out of the 16.3% growth, 10.7% was related to price increases, and 5,1% was related to volume increases.
This volume increase results from a positive demand momentum for affordable private-label frozen and ambient fruit and vegetable categories.
The combination of Greenyard’s different products and segments offers an affordable and healthy solution for all consumers, tastes, and budgets, whereby the group holds a favorable position for further growth once the macroeconomic environment normalizes.