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New agreement between Greenyard Fresh and Carrefour Belgium

Sint-Katelijne-Waver, Belgium, April 19, 2018     


Greenyard (Euronext Brussels: GREEN) announces that on 18 April Greenyard Fresh and Carrefour have signed a new cooperation agreement under the name ‘First-In-Fresh’. This further strengthens the long-standing cooperation between the two parties.
The new cooperation involves the logistical bundling of various product categories adding more than 1,500 fresh products (meat, fish, prepared meals, etc.) to the already existing fruit and vegetable range that Greenyard Fresh supplies to its Carrefour franchise partners.
More frequent deliveries, smaller order quantities, shorter order periods and commercial dynamics are the most important advantages that franchise partners of Carrefour will experience when using the ‘First-In-Fresh’ logistics platform. The logistics handling will be operational before summer and will be done from the new distribution center that was built at the Greenyard site in Sint-Katelijne-Waver for this purpose. 

The delivery of several fresh products to the Carrefour franchise partners ensures efficient loading of trucks, which also benefits the ecological footprint. The shorter order periods in turn provide a better inventory management, which leads to less waste.

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Greenyard strengthens sourcing via Mor International

Sint-Katelijne-Waver, Belgium, April 10, 2018 - Greenyard (Euronext Brussels: GREEN) announces improved sourcing of high quality exotics by acquiring 49% in Mor International with the option to become majority owner in the future   


Greenyard announces that Greenyard Fresh has acquired a 49% stake in Mor International, whereby it has the option to become majority owner in the future, for an undisclosed amount. Mor International is a well-known Israeli fruit sourcing and exporting company strongly focused on sourcing high quality exotics (mangos, avocados, kakis, pomegranates, fresh dates and bell peppers). The company realised around € 50m sales in 2017.


Already today, Mor has long-term relationships with important growers, both within and outside Israel. As such, the company is ideally positioned to reinforce Greenyard’s strategy to build a direct connection with the grower via programmed growing, ensuring a high quality and freshness for the consumer. Furthermore, Mor enables Greenyard to enlarge the geographical spread and sourcing capabilities.


Hein Deprez, CEO of Greenyard: ‘ Greenyard sources more than 3 million tons of fruit and vegetables per annum, from fork to field, to fill our vertical funnel towards food retailers and foodservice. With Mor International, Greenyard further strengthens its leading position and enhances the availability, quality and variety of the product offering. Moreover, Mor International will further help Greenyard in its goal to increase consumption of fruit and vegetables. Hence, the transaction implies an increased  focus on our strategy and priorities to continue generating profitable growth and strengthening our global leadership position in fruit and vegetables.’

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Greenyard (Euronext Brussels: GREEN) announces that it intensifies its cooperation with its
Fresh Direct operation in Belgium and has reached an agreement to obtain 100% in Greenyard
Fresh Direct Belgium

.
To emphasize this intensified cooperation, an agreement with Ben De Pelsmaeker, Managing
Director and Co‐shareholder of Greenyard Fresh Direct Belgium, has been reached to take over his
49% stake in the company, formerly called ‘Ben Fresh’. Through this transaction Ben De
Pelsmaeker will become shareholder of Greenyard at 19,68 €/share.


This announcement is another step in the common vision of Ben De Pelsmaeker and Greenyard to
cooperate with clients over the long term, with a high degree of client support. The Fresh Direct
operation in Belgium has potential for future growth and has been integrated within Greenyard’s
Fresh operations since their relocation end 2016. Ben De Pelsmaeker will continue to lead
Greenyard Fresh Direct Belgium.


Furthermore, this transaction fits within Greenyard’s strategy to be in control as much as possible
of all the operations.

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Greenyard Fresh optimises its German footprint

Sint-Katelijne-Waver, Belgium, March 22, 2018 - Greenyard (Euronext Brussels: GREEN) announces an optimisation of its German Fresh operations by the opening of 2 state-of-the-art distribution centres whereas 2 older centres are being closed.  


In order to optimise its footprint in its single largest market, Germany, Greenyard’s Fresh segment has invested significantly over the past 2 years. After the opening of a new distribution centre in Eitting, close to Munich, last year, another distribution centre was inaugurated in February 2018 in Ginsheim-Gustavsburg near Mainz.
Both centres are equipped with the latest technology in terms of ripening, value-add packing, controlled atmosphere storage and service providing opportunities. All of which making them also energy-efficient. Moreover they are strategically positioned with close proximity to both logistical connections as well as our food retail clients.
As a result of these investments in new state-of-the-art centres, Greenyard will close its logistical centres in Bremen and Neunkirchen. It is Greenyard Fresh Germany’s intention to transfer as many employees as possible to its other sites within the organisation.
"Our mission is to be the most efficient partner of the German fruit and vegetable retailers for a healthier future. This includes delivering fresh fruit and vegetables directly from the field to the customer every day. Therefore, we need a highly efficient network of distribution centres and excellent employees who support our mission" says Lars Wagener, Managing Director of Region German Market.

 

Financial calendar
- FY results       June 5, 2018 (after market)

- Q1 trading update      August 29, 2018 (after market)

- AGM         September 21, 2018

- H1 results        November 20, 2018 (after market)

 

For additional information, please contact:
Investors & Financial Press

Carl Peeters, COO
+ 32 15 32 42 69
carl.peeters@greenyard.group


Kris Kippers, IR
+32 15 32 42 49
kris.kippers@greenyard.group
Media & Trade Press

Nancy Goovaerts, Corporate Communications
+32 15 32 42 96
nancy.goovaerts@greenyard.group

 

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.
www.greenyard.group

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Sint-Katelijne-Waver, Belgium, February 22, 2018 - Greenyard (Euronext Brussels: GREEN) announced its trading update for the third quarter ending December 31, 2017


• In Q3, sales came in at € 995.6m,  stable YoY.  Like-for-like performance improved from       -2.0% in H1 to -0.4% in Q3.  FX had no material impact at the group level. The acquisition of Mykogen, consolidated since December, added 0.3% to top line
• Segment performance in Q3: 
o Fresh realised a slight like-for-like sales decline of 0.7% vs. -2.2% in H1
o Long Fresh’ sales growth was stable on a like-for-like basis compared with a slight decline in H1
o Horticulture’s like-for-like growth reached double digit, confirming the segment’s growth potential. The first time consolidation of Mykogen (+30.9%) explains why total sales growth exceeds 40%
• YTD sales reached € 3,090.3m, implying a like-for-like drop of 1.5%, an improvement compared to the -2.0% reported in H1

 

 

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Disclosure in accordance with the requirements of the Act of May 2, 2007

Sint-Katelijne-Waver, Belgium, February 6, 2018 - Greenyard NV (Euronext Brussels: GREEN) received a transparency notification in accordance with article 14 of the Belgian Act of May 2, 2007 
Pursuant to the Belgian Act of May 2, 2007 on the disclosure of major shareholdings in issuers whose shares are admitted to trading on a regulated market, Greenyard received a transparency notification on February 2, 2018 from Kabouter Management LLC.
Kabouter Management LLC has notified Greenyard that it has acquired 2,292,842 Greenyard shares (representing 5.17% of the total number of shares), and as a result of this, has crossed on January 30, 2018 the minimum notification threshold of 5.00% of the total number of shares.
The full transparency notice is available on the Greenyard website under the heading Investor Relations.

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Sint-Katelijne-Waver, Belgium, January 29, 2018 - Greenyard (Euronext Brussels: GREEN) announced today that Hein Deprez becomes CEO of Greenyard and will steer the group together with Carl Peeters, who will become the COO. Within the business segments, Greenyard enforces its management teams.


Greenyard announced today the appointment of current Greenyard Executive Chairman Hein Deprez as CEO of Greenyard, replacing Marleen Vaesen in this position. Carl Peeters, the current CFO of Greenyard, will be appointed COO, a new function. Hein Deprez and Carl Peeters are to jointly lead the Greenyard leadership team, steering the company for further growth. The search for a new CFO has started.

After 5 years, Marleen Vaesen will leave Greenyard in mutual consent on January 31, 2018. She became CEO of Greenyard Foods in 2012. After the merger in 2015, she took the helm at the enlarged Greenyard. She was responsible for building the structure of the future, aligning the 3 entities and bringing new people on board.
After these accomplishments it is time to bring Greenyard to the next level. Next to the new appointments of CEO, COO and CFO, Greenyard is strengthening its organisation at the business segment level. Within Fresh, Tim Van Londersele will lead all Fresh operations except the Greenyard Bakker operation, which will be managed by Irénke Meekma. Long Fresh will be steered by Charles-Henri Deprez. Stefaan Vandaele will continue to lead the Horticulture segment.


Hein Deprez will step down as Executive Chairman of the Board of Directors but remains member of the Board of Greenyard. Koen Hoffman, member of the Board since October 4, 2017, will take on the role of Chairman. Charles-Henri Deprez will resign from the Board to concentrate on his new role and will be replaced by Valentine Deprez. She will be co-opted as Board member with her nomination to be submitted for approval at the next AGM.


Hein Deprez commented: ‘I would like to thank Marleen for her valuable contribution by transforming Greenyard into today’s modern, strong company. We wish her the very best in her future endeavours. After this initial transformation period following the merger, the announced management changes are a next step to further execute our strategy. By doing so, we will focus even more on our strategy and priorities to continue generating profitable growth and strengthening our global leadership position in fruit and vegetables.’


Greenyard will pay Marleen Vaesen a severance pay in line with her remuneration in 2016-2017 as stipulated in the annual report.

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Sint-Katelijne-Waver, Belgium, January 5, 2018 


Greenyard (Euronext Brussels: GREEN) today announced that negotiations to acquire Dole Food Company, Inc. (“Dole”) have ended without a definitive agreement.

Hein Deprez, Executive Chairman of Greenyard, commented, “While the acquisition of Dole by Greenyard would have marked a significant milestone for both companies, we are confident that Greenyard has the right strategy and priorities in place to continue generating profitable growth and strengthening our global leadership position in fruit and vegetables. We pursued all efforts to realise a transaction with financial and strategic merit that would have created value for all stakeholders involved, nevertheless an agreement could not be reached. We are confident that Greenyard is at the forefront of its industry, and will continue to pursue its successful and ambitious path as a market leader, creating continued shareholder value.”

Rothschild & Co served as Greenyard’s financial advisor, with Allen & Overy LLP as legal advisor and Freshfields LLP as competition advisor.

 

Financial calendar
- Q3 trading update - February 22, 2018 (after market)
- FY results - June 5, 2018 (after market)


For additional information, please contact:


Media

Arnaud Denis, Whyte Corporate Affairs
+32 478 99 82 37
ad@whyte.be

Investors

Carl Peeters, CFO
+ 32 15 32 42 69
carl.peeters@greenyard.group

 

Kris Kippers, IR
+32 15 32 42 49
kris.kippers@greenyard.group

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Sint-Katelijne-Waver, Belgium, 19 December 2017 - Greenyard (Euronext Brussels: GREEN) announces that it is in advanced negotiations to acquire Dole Food Company, Inc. (“Dole”)


At this stage, a definitive agreement has not been reached, and there can be no assurance that these negotiations will culminate in a transaction between the two companies. Greenyard has secured appropriate financing, and is confident in its ability to complete the transaction with a balanced financing approach should a definitive agreement be reached. Greenyard will provide further comment related to this potential combination when there is news to share.


Financial calendar
- Q3 trading update - February 22, 2018 (after market)
- FY results - June 5, 2018 (after market)


For additional information, please contact:
Media
Belgium
Arnaud Denis, Whyte Corporate Affairs
+32 2 738 06 36
ad@whyte.be
United States
David Roady, FTI Consulting
+1 212 850 5632
david.roady@fticonsulting.com


Investors
Carl Peeters, CFO
+ 32 /(0)15 324269
carl.peeters@greenyard.group
Kris Kippers, IR
+32/(0)15 324249
kris.kippers@greenyard.group

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Sales close to last year. Lower operating profit while strong improvement in net result

Sint-Katelijne-Waver, Belgium, November 21, 2017 - Greenyard (Euronext Brussels: GREEN) announced its HY results ending September 30, 2017
Highlights – HY ending September 30, 2017
• Sales are down 2.4% YoY to € 2,094.5m. Excluding the currency effect (-0.4%), sales declined internally by 2.0% compared to strong base last year of +6.8%
• Fresh reports a sales decline of 2.5%. Internally, top line dropped by 2.2% versus a high comparable base and a stable price evolution after strong price inflation last year
• Long Fresh’ sales were down 2.6% but currencies explain 1.2% of the drop. Sales declined by 1.4% internally, which implies a strong Q2 (+1.4%). Long Fresh was confronted with shortages, while ongoing price and product mix improvements continued to contribute to top line growth
• Horticulture sales were up 4.5%, mainly thanks to internal growth (+3.0%)
• REBITDA declined by 5.5% to € 73.4m. This entails a € 4.3m drop driven by:
• Fresh dropped by € 2.6m largely driven by price pressure on bananas, combined with challenging sourcing and lower volumes YoY
• Long Fresh’ was slightly down (€ -1.1m). The continuing efforts to improve portfolio management and ongoing progression in Frozen France were curbed by the impact of shortages, ongoing price pressure in Prepared and irregular supply caused by adverse weather conditions
• Horticulture declined by € 0.5m due to tough harvest conditions during summer and higher transportation costs
• Net result came in at € 11.7m. Excluding the non-cash impact of the fair value adjustment on the convertible bond, net result arrives at € 12.5m, up 84% YoY
• Including the impact of the share buyback, adjusted EPS increased to € 0.29, up more than 90% YoY
• A significant step-up in CAPEX spent to € 35.2m driven by growth investments in Fresh and timing effect  
• Net financial debt dropped by € 32.5m YoY to € 346.5m. This translates into a leverage of 2.4x, down from 2.7x last year. This was realised despite the strong rise in investments and our share buyback programme
• The corporate tax rate showed a structural decline towards 37.3%, down from 47.2% last year
• Closing the acquisition of Mykogen following approval of all competent authorities. Mykogen adds 8% to group REBITDA with consolidation as from December 1, 2017

Contact

Greenyard NV
Strijbroek 10
2860 Sint-Katelijne-Waver (Belgium)

t. +32 (0)15 32 42 00
f. +32 (0)15 32 42 01

info@greenyard.group

Investor Relations

Contact:

t. +32 15 32 42 49

ir@greenyard.group