January 28, 2019 / 9:19 AM / 9 months ago

BRIEF-Greenyard Revises REBITDA Forecast And Explores Different Funding Options

Jan 28 (Reuters) - GREENYARD NV:

* Q3 RESULTS WERE LOWER THAN EXPECTED, MAINLY DUE TO CONTINUED PRESSURE IN THE FOOD RETAIL LANDSCAPE, PREDOMINANTLY IN GERMANY AND BELGIUM

* SALES ARE LAGGING BEHIND LAST YEAR BY -4,5%, IMPACT ON MARGIN GENERATION GIVEN THAT GREENYARD OPERATES AT LIMITED % MARGINS

* GREENYARD REVISES ITS REBITDA FORECAST FOR AY 2018/19 TO A RANGE OF € 60-65M, AFTER DECONSOLIDATION OF THE HORTICULTURE SEGMENT WHICH WAS SOLD END OF 2018

* GREENYARD WILL DISCUSS THE CONSEQUENCES OF THESE EVENTS WITH ITS RELATIONSHIP BANKS IN THE COMING DAYS

* MANAGEMENT HAS BEEN MANDATED BY THE BOARD OF DIRECTORS TO FURTHER EXPLORE DIFFERENT FUNDING OPTIONS, AMONG OTHERS A CAPITAL INCREASE

Further company coverage: (Gdynia Newsroom)

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