Tallinn, Estonia, 2013-04-12 08:00 CEST (GLOBE NEWSWIRE) --
The audited consolidated turnover of Premia Foods of 2012 was 86.4 million euro. The turnover decreased by 1.9 million euro, i.e. 2.1%, if compared to the previous year. The proportion of export in the turnover was 70%.
The gross profit of 2012 was 23.7 million euro, having increased by 3.4%, i.e. 0.8 million euro, if compared to the previous year.
The gross margin of 2012 improved. The yearly average gross margin was 27.4%, which is 1.4 percentage points higher than in 2011. The growth in gross margin as well as in gross profit originates from increased profitability of the ice cream business segment and the frozen goods business segment.
The EBITDA from operations in 2012 was 5.1 million euro; in 2011 the respective number was 5.7 million euro. The material part of this decrease came from the fish and fish products business segment.
The impact of the revaluation of livestock to the profit of year 2012 was -1.4 million euro, in 2011 the respective figure was -0.5 million euro. The revaluation of livestock does not influence Premias’s everyday activities.
While summarizing year 2012, Premia earned net profit in amount of 0.1 million euro. The result improved by 0.6 million euro, if compared to 2011.
The Management Board of Premia Foods has submitted its proposal to the Supervisory Board to continue the declared dividend policy and to distribute 387 thousand euro, i.e. 0.01 euro per share, as dividends for the financial year 2012. Provided that this proposal is approved by the Supervisory Board, the same proposal will be made to the General Meeting of shareholders. With this proposal the company continues to adhere to the dividend policy disclosed in the spring 2011.
Additional information:
Kuldar Leis
Premia Foods
CEO
T: +372 6 033 800
kuldar.leis@premia.ee
www.premiafoods.eu
