Greenyard ’s debt has increase to seven times the amount of its gross profit . The company released its full year report of 2018/2019 and although Greenyard is trying to reform by getting free of 422 Job globally , it ’s evident that the company has had a very rough year .
Co - CEO and majority shareholder Hein Deprez stated that ‘ 2018 was the most challenging twelvemonth in the chronicle of the society ’ while presenting the full year report . As the profits took a nosedive , Greenyard ’s leverage increased . In 2017 this number was set at 2.8 , now the company is looking at a leverage of 7.2 . Greenyard also had to deal with the recalls of last year , which go away its mark on the company ’s profits .
To solve the debts , Greenyard is looking for a financial shot of 80 to 120 million euro . It will involve new investor to fit that target . It ’s also trying to sell off certain divisions . It was of late report Greenyard sold offone of its factories in Hungaryto Roger & Roger , how much was give for it is still unknown .
Hein Deprez , carbon monoxide gas - CEO said : “ Last account statement class was a transitional year . We have put a lot of endeavour and time in tilt our model further from a transactional model in fruit and vegetables to a real partnership simulation with our retailers and this shift proved to be more intriguing than expected . give the unexpected impact of the extremely dry summer in our bracing and Long reinvigorated segments , the callback activity in the beginning of the summertime in Long Fresh , but in particular , the longer than expected market atmospheric pressure in our key new markets , Greenyard experience unmanageable times , which called for critical natural process . We have charge Mr Marc Zwaaneveld as co - CEO and together with our colleagues , we have taken important decisions to translate Greenyard into the global partner of choice for our client . We are consolidating the company and usingour strength and scale to increase our efficiency to the benefit of all our stakeholders , colleagues , customers , consumer and shareholders . Today , there is still a mode to go , but we see the first promising green shoots of the Transformation Plan step by step pushing up the resultant . ”
Marc Zwaaneveld , co - CEO adds : “ We have a self-coloured Transformation Plan which we are meticulously implementing today . The first results of the new accounting yr are above budget and above last year and already show that Greenyard has a lot of unleashed potential difference . By driving a stringent execution of the Transformation Plan , we can unlock large untapped electric potential that will better our efficiency and profitability . In addition , various divestments as well as conversations with potential cornerstone investor are on-going . We refocus our footprint whilst preserve to secure our customers the serve layer they are used to . We are working diligently to improve the profitability of our caller again with a strong balance sheet that is more robust and built for the futurity . ”
For the complete Full Year reputation of 2018/2019,please click here .
