Greenfood’s Interim report first quarter 2024

• Net sales for the quarter totaled SEK 1,345.9 million (1,450.1) a decrease of -7.2 percent, with Fresh Produce down -16.6 percent due to low business activity in food service, a surplus of produce, and consumers trading down to more affordable options. Picadeli maintained expected momentum growing with 12.5 percent, while Food Solutions was materially stable year-on-year.
• Adjusted EBITDA with SEK 61.6 million (42.4) was significantly better compared to Q1 2023. Out of the increase of SEK 19.2 million, Picadeli accounted for SEK 12.6 million and Food Solutions for SEK 7.6 million. The majority of Food Solutions’ improved performance was generated in Finland, following plant consolidation completed in Q2 2023. Fresh Produce saw a slight decrease of -0.1 percent in adjusted EBITDA for Q1.
• Operating profit/loss amounted to SEK 7.8 million (-24.1), confirming operational turnaround generating profit even though turnover is seasonally low.

The full report is available at https://greenfood.se/reports-and-presentations

For more information, contact:
Mattias Engberg, CFO, Greenfood AB (publ)
mattias.engberg@greenfood.se

About Greenfood
Greenfood is a leading European player creating healthy and sustainable food that is tasty, affordable, and easily accessible. From Picadeli’s self-service salads and ready-made meals to fruits and vegetables directly from farms spread across a large part of the world. Through our three business areas, Greenfood provides fresh, healthy, plant-based food at various stages of processing to customers in convenience and retail, as well as hotels, restaurants, and catering.

For 2023, Greenfood’s turnover amounted to SEK 5.7 billion and the Group operates in eight countries across Europe as well as in the US with headquarters in the historic heart of the business: Helsingborg, Sweden. Greenfood’s portfolio includes several strong brands, for example: Picadeli, Daily Greens, SallaCarte, Green Deli, and Ahlgood. Read more at www.greenfood.se.

Greenfood’s climate targets are approved by the Science Based Targets initiative, with a commitment to substantially reduce CO2 emissions.

This information is information that Greenfood AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-24 08:00 CET.