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Greenyard NV — Earnings Release 2018
Aug 29, 2017
3957_10-q_2017-08-29_81763ca1-661c-4939-b1fc-0066f4a59ab7.pdf
Earnings Release
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Trading update Q1 2017/2018
Sint-Katelijne-Waver, Belgium, August 29, 2017 - Greenyard (Euronext Brussels: GREEN) announced its trading update for the first quarter ending June 30, 2017
- In Q1, sales came in at € 1,110.0m. Internal growth was stable against a strong comparison base (+5.9% in Q1 16/17). FX impacted sales negatively by 0.4%, mainly related to the GBP.
- Segment performance in Q1:
- o Fresh' internal sales were stable (+0.1%) vs strong growth last year (+6.4% Q1 16/17).
- o Long Fresh witnessed a drop in sales reflecting shortage of supply, related to last year's difficult harvest. This impact could not be compensated by ongoing price and price-mix improvements. FX compressed sales by 0.9% caused by the GBP.
- o Horticulture grew by 3.6%.
- On June 14, Greenyard announced the acquisition of Mykogen, a leading player in mushroom substrate. Meanwhile the procedure with the antitrust authorities is evolving as anticipated. As such, the transaction is expected to be closed before year-end, as was communicated previously.
| (in € million) | Q1 16/17 | Q1 17/18 | YoY | Internal |
|---|---|---|---|---|
| Sales | 1,119.7 | 1,110.0 | -0.9% | -0.5% |
| Fresh | 907.5 | 906.2 | -0.1% | 0.1% |
| Long Fresh | 187.7 | 178.4 | -4.9% | -4.0% |
| Horticulture | 24.6 | 25.4 | 3.6% | 2.9% |
Sales figures Q1 2017/2018
Financial calendar
- EGM & AGM September 15, 2017, 13.30 CET - H1 results November 21, 2017 (after market)
For additional information, please contact Greenyard:
Marleen Vaesen, CEO T +32 15 32 42 97 [email protected]
Carl Peeters, CFO T +32 15 32 42 69 [email protected]
About Greenyard
Greenyard (Euronext Brussels: GREEN) is a global market leader of fresh, frozen and prepared fruit & vegetables, flowers, plants and growing media. Counting Europe's leading retailers amongst its customer base, the group provides efficient and sustainable solutions to customers and suppliers through best-in-class products, market leading innovation, operational excellence and outstanding service.
Our vision is to make lives healthier by helping people enjoy fruit & vegetables at any moment, easy, fast and pleasurable, whilst fostering nature.
With more than 9.000 employees operating in 25 countries worldwide, Greenyard identifies its people and key customer and supplier relationships as the key assets which enable it to deliver goods and services worth €4.25 billion per annum.