Greenyard : further accelerates with a strong last quarter and raises its expectations for the full financial year

Greenyard further accelerates with a strong last quarter and raises its expectations for the full financial year

Sint-Katelijne-Waver, Belgium, 19 April 2021

Today, Greenyard announces that it raises its Adjusted EBITDA guidance to approximately

EUR 116m-117m for the full financial year 2020/2021. The last quarter showed a strong growth and a continued acceleration of the underlying business, through volume growth that is the result of long-term customer relations. Additionally, a better alignment of sourcing flows and further cost control also contributed to this improvement.

This underlines the potential of Greenyard's unique strategy and reaffirms the strength to realise the ambitious long-term strategy.

Based on the currently available information, Greenyard expects its Adjusted EBITDA for the current full financial year 2020/2021 (before application of IFRS 16) to amount to approximately EUR 116m-117m (versus EUR 95,7m last year 2019/2020 and the previously given Adjusted EBITDA guidance to land at the upper end of the EUR 106m-110m range for financial year 2020/2021).

The increase in Adjusted EBITDA also results in a further deleverage of its debt ratio to a ratio below 3,0x Net Debt/Adjusted EBITDA (before application of IFRS 16).

The current financial results, together with its unique position in the food chain, put Greenyard in a strong position for further sustainable growth.

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For additional information, please contact Greenyard:

Dennis Duinslaeger, Investor Relations

T [phone]

[e-mail]

Disclaimer

This press release may contain forward-looking statements. Such statements reflect the current views of management regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Greenyard is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release in light of new information, future events or otherwise, unless as required by applicable law. Greenyard disclaims any liability for statements made or published by third parties (including any employees who are not explicitly mandated by Greenyard) and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by Greenyard.

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About Greenyard

Greenyard (Euronext Brussels: GREEN) is a global market leader in fresh, frozen and prepared fruit and vegetables, flowers and plants. Counting Europe's leading retailers amongst its customer base, Greenyard offers efficient and sustainable solutions to customers and suppliers through best-in-class products, market leading innovation, operational excellence and outstanding service.

Its vision is to make lives healthier by helping people enjoy fruit and vegetables at any moment, easy, fast and preasurable, while fostering nature.

With around 9.000 employees operating in 23 countries worldwide, Greenyard identifies its people, and customer and supplier relationships, as the key assets which enable it to deliver goods and services worth around €4 billion per annum.

www.greenyard.group

REGULATED INFORMATION - INSIDE INFORMATION - 19 April 2021 - 7.45am