Greenyard’s sales of EUR1.14bn show a double-digit growth of 11.4% in the first quarter of this fiscal year versus last year. The growth was mainly driven by faster than expected organic growth in a large number of its commercial relationships, with a focus on margin improvement and profitability, as well as a positive COVID-19 impact on volume within the Fresh segment, according to a statement from the company.
Volume increase in Fresh generated more than EUR100m extra sales. In addition to a positive COVID-19 impact on volumes in a period when out-of-home consumption of fruits and vegetables was replaced by at home consumption, the strong increase in volumes sold in the first quarter was due to the further strengthening of a large number of Greenyard’s long-term commercial relationships. Fresh sales increased in Q1 from EUR849.4m last year to EUR959.0m (+ 12.9%).
A slight increase was also seen in Long Fresh sales, despite negative COVID-19 impact on volume. The Long Fresh segment also grew steadily, despite the loss of volumes in the foodservice and industry customer segment due to the COVID-19 pandemic. Long Fresh sales increased in Q1 from EUR181.9m last year to EUR190.3m (+4.6% respectively).