The ongoing convalescence of one of Europe's largest fresh produce companies, German group Landgard, continues slowly but steadily after it revealed a mixed set of results in its annual report for 2012.
Board members Gerold Kaltenbach, Armin Rehberg and Karl Voges – the latter appointed at the start of this year – revealed on Wednesday that the group had managed to increase its sales to €2.033bn compared with €2.024bn in 2011.
Consolidated earnings before interest, taxes, depreciation and amortisation was up from €19.5m in the previous year to €43.5m, while Landgard's fresh fruit and vegetable division reportedly contributed more than €700m to the sales figure during the 12-month period, compared with €673m in the previous year.
In 2011, Landgard made a pre-tax loss of €61.5m despite its sales increasing by almost 80 per cent during the previous five years, mainly as a result of concerted expansion efforts within its fresh produce import operation.
Announcing those results back in October, the group insisted it would be able to turn around its performance having identified 450 individual areas in which it could either save money or boost revenue.
Since then, the addition of Leverkusen-based importer and ripener Walter Pott to its roster has seen new revenues arrive on Landgard's balance sheet during the past financial year, while the sector's own ability to bounce back from the E coli crisis of summer 2011 also appears to have bolstered its performance in 2012.
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