Greenfood’s Interim report second quarter 2024

• Net sales for the quarter totaled SEK 1,525.6 million (1,524.4), a marginal increase of 0.1 percent, with Fresh Produce down -7.1 percent due to low business activity in food service and consumers trading down to more affordable options. Picadeli and Food Solutions maintained expected momentum, growing by 10.0 and 7.3 percent, respectively.
   
• Adjusted EBITDA of SEK 120.0 million (99.3) was significantly better than Q2 2023. The increase of SEK 20.7 million was driven by improvements in all business areas. Picadeli grew behind more installed salad bars and strong earnings per store, Food Solutions and Fresh Produce grew due to synergies from the 2023 Greenhouse facility consolidation.
   
• Operating profit amounted to SEK 54.2 million (2.3), an improvement due to successful operational changes and growth projects in Picadeli and Food Solutions.
   
• Group net result amounted to SEK -11.7 million (-60.7) mirroring effects from operational improvements partially reduced by higher underlying interest rate year-on-year.
   

The full report is available at https://greenfood.se/reports-and-presentations