The company’s fresh produce sales fell in the third quarter of 2024, but its added-value offers fared better
Leading Nordic fresh produce company Greenfood has reported net sales of just over SKr1.4bn (€122.1mn) for the third quarter of the year, a 2.3 per cent increase on the same period of 2023.
The group’s fresh produce revenue fell by 6.6 per cent to SKr668.1mn (€57.7mn) during the three months.
But the company achieved strong growth in its Picadeli salad bar division, which saw its sales rise 16.3 per cent year on year to SKr534.8mn (€46.2mn), and in its convenience segment Food Solutions, where income was up 7.2 per cent to SKr348.7mn (€30.1mn).
Overall, Greenfood’s adjusted earnings before income, tax, depreciation and amortisation was 21.9 per cent higher in Q3 2024 compared with Q3 2023 at SKr 130.2mn (€11.3mn). And its operating profit was SKr70.3mn (€6.07mn) compared with Skr20.4mn (€1.76mn) a year earlier.
The group’s overall net result was a loss of SKr2.9mn (€250,000), but this was an improvement on its Skr46.9mn (€4.05mn) deficit in the year-earlier period.
Commenting on the results, president and CEO David von Laskowski said: “In the third quarter, we saw tangible results from our efforts to build a stronger, more profitable Greenfood. We have achieved clear improvements in quality of earnings, generating a momentum that gives us a tailwind and confidence in our plan.”
In addition, he added, the company has secured new financing equal to SKr1.45bn (€125.3mn) that he said would enhance its ability to “drive growth and add value”.
