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Belgian vegetable processor Greenyard is confident about the future, even in these uncertain times. Co-CEO Marc Zwaaneveld also says he is satisfied with the past financial year.
Exit from UK and France
Greenyard’s sales rose by 7.9 % to 4.64 billion euros on a like-for-like basis. This growth was entirely due to price increases (8.5 %), as – remarkably – fewer fruit and vegetables were sold in retail. However, consumers opted more often for private labels, a trend from which the fruit and vegetable supplier is benefiting.
Net profit almost halved in the last financial year, from 16.9 million to 9.3 million euros. Although adjusted EBITDA was slightly higher than the previous year, the company had to contend with high restructuring costs and rising interest rates. Greenyard is withdrawing from the British fresh produce market and has decided to serve the French market operationally from neighbouring countries in order to reduce costs over time.
Irreversible pure-plant transition
Despite “very uncertain macroeconomic conditions”, the vegetable processor confirms its outlook for this year. For the future, Greenyard sees opportunities mainly in the plant-based shift, which is becoming “irreversible” and inevitable, according to co-CEO Hein Deprez.
“By 2050, there will be 10 billion people to feed. We will have to find better and more sustainable ways of producing food – with less impact and more nutritional value – if we don’t want to jeopardise the future of our planet for our children, grandchildren and generations to come. Pure-plant foods are a part of the solution.”
Would you like to find out more about the pressures on our food system and the transition to a plant-based diet? Be sure to read The Future of Food by RetailDetail founder Jorg Snoeck and chief editor Stefan Van Rompaey, which includes testimonials from Hein Deprez himself.
