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Greenfood’s Interim report third quarter 2024

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In the third quarter, Greenfood saw tangible results from its efforts to build a stronger, more profitable business.

  • Net sales for the quarter totaled SEK 1,413.4 million (1,381.4), an increase of 2.3 percent, driven by 16.3 percent growth in Picadeli and 7.2 percent growth in Food Solutions with Fresh Produce down -6.6 percent.
  • Adjusted EBITDA of SEK 130.2 million (106.8) increased by SEK 23.4 million or 21.9 percent driven by improvements in all three business areas, both in EBITDA %-margins and absolute figures.
  • Operating profit amounted to SEK 70.3 million (20.4), with improved margins and positive results in all three business areas.
  • Group net result amounted to SEK -2.9 million (-46.9) mirroring the sales increase and margin improvements, partially offset by higher interest expenses year-on-year.
  • Cash flow from operations reached SEK 26.9 million (-40.1). At quarter’s end, the Group’s available liquidity amounted to SEK 148,2 million, in line with management's expectations.

For more information, contact:
Martin Asp, CFO, Greenfood AB (publ)
martin.asp@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.

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