Brief: Greenyard Announces 2030 Strategy, Objectives
07/12/2021 06:51
Dec 7 (Reuters) - Greenyard NV GREENY.BR :
* A PLANT-BASED POWERHOUSE: GREENYARD ANNOUNCES STRATEGY
2030 AND
ITS VISION ON THE FUTURE OF FOOD
* OVER THE COMING YEARS, GREENYARD IS TARGETING FURTHER
GROWTH
THROUGH A WIDER PRODUCT PORTFOLIO OF CONVENIENT, PLANT-BASED
PRODUCTS, IN COMBINATION WITH DIGITAL SERVICES
* HAS THE AMBITION TO INCREASE SALES BY AROUND € 650M TO
REACH €
5BN SALES BY AY 2024/2025, IMPLYING A CAGR OF 5%
* AMBITION IS TO GROW THE ADJUSTED EBITDA BY € 35-45M TO
REACH €
200-210M BY 2025, IMPLYING A CAGR OF 6-7%
* WILL CREATE HEADROOM FOR ADDITIONAL INVESTMENTS IN
PLANT-BASED
AND POTENTIAL M&A IN THE COMING YEARS, WHILE SAFEGUARDING A
LEVERAGE RATIO OF 2,0X-2,5X
* IN ADDITION, GREENYARD WILL PUT DIVIDENDS BACK ON THE
AGENDA FOR
CONSIDERATION BY THE BOARD OF DIRECTORS BASED ON THE AY
2022/2023 RESULTS
* OVER NEXT THREE YEARS CAPEX IS EXPECTED TO BE CASH FLOW
NEUTRAL,
GIVEN THE EXPECTED SHORT PAYBACK TERMS, AND FURTHER EXPECTATIONS
OF OPERATIONAL AND WORKING CAPITAL IMPROVEMENTS
* STEPPING UP CONVENIENCE PRODUCT OFFERING: GREENYARD WILL
DEPLOY
A ONE-OFF € 30-35M CAPEX OVER THE COMING THREE YEARS
* GREENYARD MAY ALSO CONSIDER M&A OPPORTUNITIES IN A VERY
TARGETED
AND STRICT WAY, IN EUROPE AND POTENTIALLY THE USA, AND ONLY TO
THE EXTENT THAT A CLEAR AND STRONG INTEGRATION PROCESS IS
FEASIBLE
* SUSTAINABILITY OBJECTIVES: REDUCTION OF ITS CARBON
FOOTPRINT BY
70% BY 2030
* SUSTAINABILITY OBJECTIVES: REDUCING ITS WATER INTENSITY BY
ANOTHER 10% BY 2025
* SUSTAINABILITY OBJECTIVES: FURTHER WASTE REDUCTION BY 25%
IN ITS
OPERATIONS BY 2025
* SUSTAINABILITY OBJECTIVES: 100% SUSTAINABLE PACKAGING BY
2025
AND 100% SOCIAL COMPLIANCE THROUGHOUT THE CHAIN BY 2025
Source text: https://bit.ly/3GcsdMC
Further company coverage: GREENY.BR
(Gdansk Newsroom)
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