Brief: Greenyard Q1 Revenue Down At 1.09 Billion Euros

Greenyard NV

27/08/2018 06:17

Aug 27 (Reuters) - GREENYARD NV  GREENY.BR :
    * IN Q1, SALES CAME IN AT € 1,093.7M, SLIGHTLY DOWN FROM
LAST YEAR
(-1,5%)
    * THIS QUARTER WAS MARKED BY LONGER THAN EXPECTED PRICING
PRESSURE
AND COMPETITION IN OUR MARKETS - CEO
    * BASED ON NEW FORECASTS WE REVISE OUR PROFITABILITY
GUIDANCE FOR
AY 2018/2019, WELL BELOW LAST YEAR'S PROFITABILITY- CEO
    * EXPECTS UNDERLYING FULL YEAR REBITDA TO BE AROUND 25%
BELOW LAST
YEAR’S PROFITABILITY (VERSUS 10% REBITDA GROWTH YEAR-ON-YEAR AS
PREVIOUSLY GUIDED)
    * BOARD OF DIRECTORS HAS REQUESTED MANAGEMENT TO REVIEW
STRATEGIC
OPTIONS OF ITS BUSINESS PORTFOLIO- CEO
    * EXECUTING ACTION PLANS TO PROGRESSIVELY IMPROVE
PROFITABILITY
OVER THE COURSE OF 2018 AND 2019
    * PRICE INCREASES ARE STILL POSSIBLE, BUT ARE HARD TO
ESTIMATE AT
THIS POINT IN TIME
    * ALL TESTS IN HUNGARIAN FACILITY HAD A FAVORABLE OUTCOME

Source text: https://bit.ly/2wrLHL3
Further company coverage:  GREENY.BR 

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