Thanks to internal growth, Greenyard saw improvements over the past financial year compared to the previous year. Turnover increased by 7.1 per cent, amounting to 4.2 billion euro. This growth was mostly realised internally (5.3%) and due to acquisitions (2.7%), while the exchange rate impact was limitedly negative (-1.0%). A year earlier, turnover amounted to 3.9 billion euro.
Going deeper into the figures, the Fresh Division achieved an internal sales growth of six per cent, mainly due to the good results on the core markets of the Netherlands and Germany. The British market suffered under Brexit. The UK, with France and the US, is placed under the header ‘growth markets.’ These are countries where Greenyard still sees much potential, and where the company has a relatively small market share.
The segment Long Fresh also realised a strong internal sales growth (+2.1%), mostly thanks to an improved price/mix. Horticulture also contributed with an internal growth (3.1%) to the positive result, thanks to constant strong demand for new, innovative products. The exchange rate had a negative impact of one per cent on sales figures.
The REBITDA increased by 136.2 million euro in fiscal year 2015/16, to 145.7 million euro for the closed fiscal year. That increase is mostly on account of the segments Long Fresh and Horticulture, which realised growth of 9.6 per cent and 7.7 per cent, respectively. Improvements in the product mix and cost reductions had a positive effect on both divisions. For Long Fresh, the positive effect is also due to the recovery of the situation at the Moréac, France, facility. The Fresh division also noted a positive result, with an increase of 5.1 per cent in REBITDA, For this division, results are influenced by Brexit and the bad weather in Southern Europe during the fourth quarter of the fiscal year (January-March 2017). The increase in ready-to-eat and mixes are positive developments within the segment.
Last year, Greenyard invested in refunding the burden of debt, which brought with it a one-time cost of 25 million euro. With that, 15 million euro in interest will be saved in coming years. Additionally, investments were made into a cost-saving of taxes, with positive results. Due to this refunding, among other things, net results are lower. Last fiscal year, the net result was 16.7 million euro. This year, the result won’t be as high, with just 0.7 million. However, the company emphasises that the figures can’t be compared because of the refunding. On a comparable basis, the net result would amount to 21.9 million euro.