May 2, 2018 / 3:56 PM / 20 days ago

BRIEF-Greenyard Pre-Announces Preliminary FY Results With 4 Percent REBITDA Drop

May 2 (Reuters) - GREENYARD NV:

* GREENYARD UPDATES THE MARKET ON ITS FY RESULTS PER 31 MARCH 2018

* PRE-ANNOUNCES PRELIMINARY ANNUAL RESULTS WHICH SHOW A MODEST DROP OF FY REBITDA COMPARED TO LAST YEAR

* EXPECTS FY REBITDA TO LAND AT ABOUT EUR 140.0M, SHOWING DROP OF 4% COMPARED TO LAST YEAR’S LEVEL

* PROFIT BEFORE TAX IS EXPECTED TO IMPROVE TO CIRCA € 5.0M, COMPARED TO € 0.8M LAST YEAR

* HEIN DEPREZ, CEO OF GREENYARD SAYS ‘GREENYARD’S PRELIMINARY ANNUAL RESULTS DO NOT MEET OUR EXPECTATIONS

* REMAINS CONFIDENT TO REALISE INCREASE OF 10% IN REBITDA FOR CURRENT YEAR 18/19, STARTING APRIL 1, 2018

* EXPECTS FY NORMALISED NET DEBT/REBITDA AT C. 2.8X Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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