Adjusted EBITDA Ahead of Guidance
Full-year adjusted EBITDA of $395 million, coming in ahead of the company's latest guidance and 1% above 2024.
Revenue Growth
Full-year revenue increased 8.2% to £9.2 billion. Q4 revenue was £2.4 billion, up 9.2% reported and 5.7% like-for-like versus Q4 2024.
Strong Diversified Americas Performance
Diversified Americas delivered robust growth: Q4 adjusted EBITDA up 32% and full-year adjusted EBITDA up 21%, driven by higher volumes (cherries, blueberries) and improved JV profitability.
Diversified EMEA Growth
Diversified EMEA delivered an excellent full-year adjusted EBITDA of $150 million, a 14% increase year-on-year, supported by strength in Spain, the Nordics and recovery in the Netherlands.
Strategic Portfolio Simplification and Capital Actions
Completed sale of Fresh Vegetables business for gross consideration of $140 million (Aug 2025); announced agreement to sell Guayaquil port operations with expected net proceeds ~ $75 million; completed $1.2 billion credit facility renewal; Board authorized $100 million share repurchase program (£4.5m repurchased to date).
Product Innovation Win
Launched Cladeau Royale pineapple (new variety) — described as 'game-changing' after 15 years of R&D, well received by customers/consumers and awarded best new product in a Newsweek fresh fruit survey.
Improved Leverage and Lower Interest
Net leverage improved to 1.5x from 1.6x prior year. Full-year interest expense was £66.5 million, and management expects ~ $60 million interest in 2026 assuming stable base rates.
Cash Generation and CapEx Discipline
Net cash provided by operating activities of £123 million; routine full-year CapEx in line with guidance (£85 million); 2026 routine CapEx forecast ~£100 million. Free cash flow excluding specified one-offs rises to ~$81 million.