Greenfood closes 2024 with strong momentum, delivering another quarter of solid earnings growth.
- Net sales for the quarter totaled SEK 1,358.0 million (1,331.1), an increase of 2.0 percent, driven by Picadeli and Food Solutions, Greenfood's high value-add segments.
- Picadeli delivered another strong quarter, with net sales rising 14.3 percent to SEK 449.8 million and Adjusted EBITDA increasing 13.4 percent to SEK 42.2 million, primarily driven by more active stores than Q4 2023.
- Net sales for Food Solutions in the fourth quarter of 2024 grew 7.4 percent and adjusted EBITDA grew by 34.2 percent, continuing the improving financial performance trend from prior periods.
- Greenfood's Adjusted EBITDA of SEK 71.4 million (65.0) increased by SEK 6.4 million or 9.9 percent driven by improvements in Food Solutions and Picadeli both in EBITDA %-margins and absolute figures. Fresh Produce maintained its EBITDA despite lower sales in the period.
- Cash flow from operations reached SEK -70.0 million (28.6). This includes planned repayment of old Swedish tax liabilities of SEK 74.1 million according to plan.
- At quarter's end, the Group's available liquidity amounted to SEK 363.9 million.
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.
