PRF: Unaudited consolidated turnover of AS Premia Foods, 2nd quarter and 6 months, 2014

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| Source: PRFoods
multilang-release

 

The unaudited consolidated turnover of Premia Foods increased in the 2nd quarter compared to the 2nd quarter 2013 by 4.6%, i.e. by 1.3 million euro, reaching 29.1 million euro. The unaudited consolidated turnover of 6 months 2014 was 49.5 million euro, having increased by a year by altogether 7.5%, i.e. 3.5 million euro.

In the summary of 6 months of 2014, both, fish business segment and frozen goods business segment, indicated growth. The ice cream business segment was materially influenced by weather conditions and the weakening of the exchange rate of Russian rubble against euro. The greatest contribution into the growth came from the fish business segment, the turnover of which increased by 24.1%, i.e. 4.1 million euro, by a year.

Turnover by business segment (MEUR) Q1 2014 Q1 2013 Q2 2014 Q2 2013 6 months 2014 6 months 2013 6 months 2014/
6 months 2013
Ice cream 3.6 3.6 10.4 12.1 13.9 15.7 -11.3%
Frozen goods 6.1 5.9 6.7 6.0 12.8 11.9 +7.8%
Fish and fish products 10.1 8.2 11.2 8.9 21.2 17.1 +24.1%
Other 0.7 0.6 0.9 0.8 1.5 1.4 +13.6%
Total 20.5 18.3 29.1 27.8 49.5 46.1 +7.5%

The turnover of the ice cream business segment decreased in the 2nd quarter 2014 by 14.7%; however, if the weakening of the exchange rate of Russian rubble against euro is eliminated, the decrease of turnover during this period was only 10.4%. If in the end of May and in June 2013, the weather conditions in the all the target markets were warm, then the weather conditions of the 2nd quarter this year, especially in June, have been rather cold, which in turn has had adverse effect on the turnover of ice cream business segment. The decrease in the turnover of the ice cream business segment was the most significant in Lithuania; however, material part of the decrease in turnover in the Lithuanian market came from the decrease of the turnover of private label products. The turnover of the ice cream business segment increased in Finland and if calculated in Russian rubbles also in Russia (by 2.3%).

In the summary of 6 months, the ice cream business segment generates 28.1% of the total turnover of Premia Foods.

The turnover of the frozen goods business segment increased in the 2nd quarter 2014 year-on-year basis by 11.4%, i.e. 0.7 million euro. In the summary of 6 months of 2014, the growth of the business segment year-on-year basis was 7.8%, i.e. 0.9 million euro. The greatest monetary contribution into the turnover growth came from Latvia where the turnover increased by 0.7 million euro. The proportion of the turnover of the frozen goods business segment in the total turnover of Premia Foods of 6 months was 25.8%.

The turnover of the fish and fish products business segment increased in the 2nd quarter 2014 compared to the 2nd quarter 2013 by 26.0%, i.e. by 2.3 million euro. In the summary of 6 months the turnover of the fish business segment increased in year-on-year comparison by 24.1%, i.e. 4.1 million euro. The growth came mainly from the Finnish retail market and cold and hot smoked product groups. The proportion of the turnover of the fish and fish products business segment in the total turnover of Premia Foods of 6 months was 42.9%.

Turnover by target markets (MEUR) Q1 2014 Q1 2013 Q2 2014 Q2 2013 6 months 2014 6 months 2013 6 months 2014/
6 months 2013
Finland 8.9 6.8 10.0 8.0 18.8 14.8 +27.3%
Estonia 5.3 5.3 7.8 7.9 13.1 13.2 -0.5%
Latvia 3.4 2.9 4.5 4.3 7.9 7.1 +10.1%
Lithuania 1.7 1.8 3.7 4.0 5.4 5.8 -6.5%
Russia 1.1 1.4 3.0 3.5 4.2 4.9 -15.3%
Other 0.0 0.0 0.1 0.2 0.1 0.2 -41.6%
Total 20.5 18.3 29.1 27.8 49.5 46.1 +7.5%

In the summary of 6 months 2014, the turnover increased in the Finnish and Latvian markets. The decrease of turnover in the Russian market was in a material part caused by the weakening of the exchange rate of Russian rubble against euro. Since the raw material for the ice cream production is purchased by Premia in rubbles and the end products in the Russian market are sold also for rubbles, the fluctuations of the exchange rate of rubble against euro have no impact on the everyday business activities of the company and, if calculated in rubbles, the results of the company were at the same level with the ones of 2013. The decrease of the turnover of the Estonian market, if compared to the same periods of 2013, was caused by unfavourable weather conditions, which had adverse effect on the sales of ice cream. The results of the Lithuanian market were also influenced by bad weather conditions. In addition to that the decrease of turnover came from the decreased turnover of the private label products. The proportion of the Baltic states in the total turnover of 6 months was 53.4%.

 

         Additional information:
         Katre Kõvask
         Premia Foods
         Chairman of Management Board
         T: 6 033 800
         katre.kovask@premia.ee
         www.premiafoods.eu