>2023/24 sales and adjusted EBITDA expected to meet Greenyard’s targets - Greenyard is set to report its 2023/24 results (1 April–31 March) on 23 May at 07:00, and it will host a live webcast at 14:00. We note that Greenyard recently announced plans to bring forward its annual results reporting to the third full week of May (was mid-June). We forecast Greenyard will report net sales of € 4,972m (consensus: € 5,051m), with solid contributions expected from Fresh (€ 4,0...
>Another acquisition in the field of plant-based ice/frozen products - Yesterday morning, Greenyard announced it has acquired the Belgian company Crème de la Crème. The company develops, manufactures, and sells ice products and frozen desserts, with a clear focus on the pure-plant category. The company is the European market leader in its field of expertise, according to Greenyard. The acquisition follows the acquisition of Italian pure-plant ice Gigi in the spring of...
Azelis: Bloomberg report citing M&A interest. BE Semiconductor Industries: 1Q24 preview, focus on order intake. Greenyard: Crème de la Crème acquisition. Just Eat Takeaway.com: Deliveroo reports 1Q24 trading. Melexis: 1Q24 Preview, focus on pricing. NSI: Guidance confirmed, LTV improves, small but interesting investments might come. Sligro: 1Q24 results in line with expectations Vastned: Key €100m single asset disposal achieved
>Sales ahead of expectation at 9M 2023/24 - Greenyard reported year-to-date (three quarters) sales of € 3,742m, which is ahead of our forecast of € 3,705m. Following solid H1 2023/24 growth, sales growth accelerated further in Q3 2023/24. Taking into consideration the challenging comparison base for Long Fresh particularly in Q3 2023/24, we had anticipated a moderation of growth. According to Greenyard, the reported 12.2% sales growth was made up of 9.6% from price in...
>Sales and EBITDA above forecasts in H1 2023/24 - Greenyard reported sales and EBITDA ahead of our and consensus estimates in H1 2023/24. Both divisions (Fresh and Long Fresh) contributed to the sales beat. For adjusted EBITDA, the beat was predominantly attributable to Long Fresh, while the Fresh division reported a small beat compared with our and consensus estimates. Greenyard’s net debt came in € 31m higher than expected, due to 1) higher-than-expected working cap...
Barco: Preview of analyst meeting, support needed. Deceuninck: To stop manufacturing activities in Germany. Fugro: Ambitious and possible. Greenyard: 1H23/24 in line with expectations, guidance reiterated. Melexis: CMD presentation published, healthy growth. TKH Group: Lowers FY23 outlook. Universal Music Group: Warner Music adopts Deezer ‘artist centric' model in France
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