Brief: Greenyard Announces Transformation Plan, Eyes 2019/2020 REBITDA Improvement Of EUR 20 Mln

Greenyard NV

15/03/2019 06:54

March 15 (Reuters) - Greenyard NV  GREENY.BR :
    * GREENYARD ANNOUNCES ITS TRANSFORMATION PLAN UNLOCKING LARGE UNTAPPED
POTENTIAL
FOR A HEALTHY FUTURE
    * AS A RESULT OF THE TRANSFORMATION PLAN, 422 JOBS MIGHT POTENTIALLY BE
IMPACTED
IN 2019 OVER DIFFERENT COUNTRIES, BUT PRIMARILY IN FRESH IN THE UNITED KINGDOM
AND GERMANY
    * TRANSFORMATION PLAN IS EXPECTED TO DELIVER REBITDA IMPROVEMENT OF EUR 20M
FOR AY
2019/2020 AND EUR 44M OF CUMULATIVE REBITDA IMPROVEMENT FOR AY 2020/2021
    * EXPECTING TO YIELD CASH PROCEEDS IN A RANGE OF EUR 50 TO 75M FROM FURTHER
DIVESTMENTS OF NON-CORE ASSETS OVER THE DIFFERENT SEGMENTS WITH LIMITED REBITDA
LOSS
    * IS ALSO EXPLORING THE OPTION OF A STRATEGIC DIVESTMENT OF ITS PREPARED
DIVISION
WITH A VIEW TO A FURTHER DELEVERAGING
    * GREENYARD ALSO EXPECTS TO ACHIEVE REBITDA OF OVER EUR 100M IN AY 2020/2021
    * LAZARD HAS BEEN APPOINTED AS FINANCIAL ADVISOR TO ASSIST IN FINDING AN
AGREEMENT
WITH A CORNERSTONE INVESTOR IN CONNECTION WITH THE RAISING OF ADDITIONAL CAPITAL
    * MR. CARL PEETERS, GREENYARD’S COO, WILL LEAVE THE COMPANY AFTER THE
TRANSFER OF
HIS RESPONSIBILITIES, AT THE LATEST ON 31 MAY


Further company coverage:  GREENY.BR 

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