Fresh produce firm Greenyard has announced that it expects its adjusted EBITDA for the half year to 30 September to amount to approximately €47.5 million.
This is up from the previous guidance of between €43 million and €45 million, which it announced at the end of August.
The group made the revised EBITDA announcement based on its current expectations, due to the 'positive recovery' of the business and 'rigourous implementation' of its transformation plan.
Transformation Plan
Greenyard's transformation plan, announced last year, will continue to focus on margin and profitable volumes, as well as 'rightsizing the overhead cost base'.
The plan has already seen Greenyard dispose of its horticulture segment, as well as offload assets such as its Greenyard Frozen plant in Baja, Hungary.
“By driving a stringent execution of the transformation plan, we can unlock large untapped potential that will improve our efficiency and profitability,” co-CEO, Marc Zwaaneveld said in June.
Greenyard will publish its half-year results on 19 November.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
