Market announcement
AS PRFoods
LEI code
529900PFXFO2ZDCRNK93
Size of the entity
Medium group
Economic activities
Financial and Insurance Activities
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
3523
Attachments
Submission date and time
21.11.2011 16:00:00
Content of announcement in Estonian
Title
PRF: AS Premia Foods auditeerimata majandustulemused, 3. kvartal ja 9 kuud 2011
Message
Tallinn, Eesti, 2011-11-21 15:00 CET (GLOBE NEWSWIRE) --
Ettevõtte 9 kuu konsolideeritud käive oli 68,3 miljonit eurot, kasvades aastaga
8,8 miljoni euro ehk 15% võrra. Ettevõtte 3. kvartali konsolideeritud käive oli
24,1 miljonit eurot, kasvades aastaga 0,8 miljoni euro ehk 4% võrra. Ekspordi
osakaal käibest oli 72%.
9 kuu brutokasum oli 18,2 miljonit eurot, kasvades aastaga 17% ehk 2,6 miljoni
euro võrra. Brutokasum on 9 kuu kokkuvõttes kasvanud kõigis segmentides, kõige
parema tulemuse on aga võrreldes 2010.aastaga teinud kala- ja kalatoodete ning
külmkaubasegmendid.
9 kuu lõikes on võrreldes 2010.aastaga paranenud ka brutokasumi rentaablus ning
9 kuu keskmiseks brutorentaabluseks kujunes 26,6%, mis on 0,4 protsendipunkti
võrra rohkem kui 2010.aasta samal perioodil.
9 kuu EBITDA äritegevusest oli 4,2 miljonit eurot. 2011.aasta 9 kuu EBITDA
äritegevusest ilma ühekordsete tulude ja kuludeta oli 5,3 miljonit eurot,
2010.aasta vastav näitaja oli 4,5 miljonit eurot.
2011.aastal 9 kuu kokkuvõttes moodustasid Venemaa tootmise ja logistika
ümberkolimisega seotud ühekordsed kulud 1,1 miljonit eurot. 2010.a. 9 kuu
kokkuvõttes aga kajastub kasumis kindlustushüvitis tehase põlengu tõttu
kalasegmendis teenimata jäänud kasumi ning vajaminevate investeeringute eest
summas 1,1 miljonit eurot, millest 0,8 miljonit eurot langes 3. kvartalisse.
9 kuuga teenis ettevõtte 0,7 miljonit eurot puhaskasumit.
Järgnevas koondtabelis on välja toodud kontserni 9 kuu põhilised arvnäitajad
kvartalite lõikes.
Kasumi valem 1.kv 2.kv 3.kv 9k 1.kv 2.kv 3.kv 9k
aruann 2011 2010
e,
milj
eur
--------------------------------------------------------------------------------
Müügit 16,7 27,6 24,1 68,3 15,0 21,3 23,2 59,5
ulu
Brutok 3,2 8,1 6,8 18,2 3,0 5,5 7,1 15,6
asum
EBITDA enne -0,6 2,7 2,0 4,2 0,4 1,8 3,5 5,6
ärite kalavar
gevuse ude
st ümberhi
ndlust
EBITDA -1,3 2,2 3,2 4,1 0,0 2,2 4,7 6,9
EBIT -2,3 1,2 2,3 1,2 -0,9 1,3 3,6 3,9
Puhask -2,0 1,1 1,6 0,7 -1,1 0,8 2,9 2,5
asum
Brutor Brutokas 19,4% 29,5% 28,4% 26,6% 20,0% 25,8% 30,5% 26,2%
entaab um /
lus Müügitu
lu
EBITDA EBITDA / -7,8% 8,0% 13,3% 6,0% 0,0% 10,3% 20,4% 11,7%
margi Müügitu
naal lu
EBIT EBIT / -13,8% 4,4% 9,5% 1,8% -6,1% 5,9% 15,5% 6,6%
margi Müügitu
naal lu
Puhasr Puhaskas -11,9% 4,0% 6,6% 1,0% -7,6% 3,6% 12,5% 4,2%
entaab um /
lus Müügitu
lu
Tegevu Tegevusk 29,6% 23,4% 24,4% 25,3% 25,1% 24,0% 23,8% 24,2%
skulud ulud /
e Müügitu
suhta lu
rv
Bilans valem 31.12. 31.03. 30.06. 30.09. 31.12. 31.03. 30.06. 30.09.
s, 2010 2011 2011 2011 2009 2010 2010 2010
milj
eur
--------------------------------------------------------------------------------
Netovõ 11,2 14,5 13,0 10,7 18,5 20,1 10,2 9,3
lgnevu
s
Omakap 41,4 39,4 40,1 41,7 27,7 26,6 39,6 42,7
ital
Käibek Käibevar 12,8 12,1 12,9 15,0 3,3 2,7 8,5 14,0
apital a -
Lühiaja
lised
kohustu
sed
Varad 68,9 68,9 70,6 66,2 62,8 62,4 74,6 70,8
Likvii Käibevar 1,87 1,75 1,73 2,27 1,15 1,12 1,36 1,92
dsusko a /
rdaja Lühiaja
lised
kohustu
sed
Omakap Omakapit 60% 57% 57% 63% 44% 43% 53% 60%
itali al /
suhta Varad
rv
Finant Netovõlg 21% 27% 24% 20% 40% 43% 21% 18%
svõime /
ndus (Omakap
ital +
Netovõl
g)
Netovõ Netovõlg 1,58 2,50 2,24 2,53 2,98 3,15 1,65 1,58
lg/EBI /
TDA viimase
12k
EBITDA
Omakap 12k 4% 1% 2% -1% 3% 5% 3% 1%
itali puhaska
tootl sum /
us Keskmin
e
omakapi
tal
Varade 12k 2% 1% 1% -1% 1% 2% 2% 1%
tootl puhaska
us sum /
Keskmin
e varade
maht
Premia Foodsi 3.kvartali ja 9 kuu võtmenäitajad tegevusvaldkondade kaupa.
miljonites eurodes 1.kv 2.kv 3.kv 9k 2011 1.kv 2.kv 3.kv 9k 2010
--------------------------------------------------------------------------------
Müügitulu
Jäätis 4,0 12,2 9,4 25,7 1,9 9,2 12,0 23,1
Külmutatud tooted 4,9 5,0 5,6 15,5 5,0 5,1 4,8 15,0
Kala ja kalatooted 7,4 9,8 8,6 25,8 7,8 6,7 6,0 20,4
Muu 0,3 0,5 0,5 1,3 0,3 0,2 0,4 0,9
Kokku 16,7 27,6 24,1 68,3 15,0 21,3 23,2 59,5
Brutokasum
Jäätis 1,0 5,3 3,5 9,8 0,8 3,8 5,0 9,5
Külmutatud tooted 1,1 0,9 1,4 3,5 1,1 1,1 1,1 3,3
Kala ja kalatooted 1,0 1,8 1,9 4,6 1,4 0,2 0,9 2,5
Brutorentaablus (%)
Jäätis 26% 43% 37% 38% 40% 41% 42% 41%
Külmutatud tooted 23% 19% 25% 22% 22% 22% 22% 22%
Kala ja kalatooted 13% 18% 22% 18% 18% 2% 15% 12%
EBITDA äritegevusest
(enne kalavarude
ümberhindlust)
Kala ja kalatooted 0,2 0,9 1,0 2,1 0,3 0,2 1,0 1,5
EBITDA
Jäätis -0,4 2,0 0,9 2,4 0,1 1,6 2,8 4,5
Külmutatud tooted -0,3 0,1 0,2 0,1 -0,3 -0,1 0,0 -0,4
Kala ja kalatooted -0,5 0,4 2,1 2,0 0,0 0,6 2,3 2,9
Ärikasum
Jäätis -0,8 1,5 0,5 1,2 -0,1 1,2 2,2 3,3
Külmutatud tooted -0,5 0,1 0,0 -0,4 -0,5 -0,2 -0,2 -1,0
Kala ja kalatooted -0,8 0,1 1,9 1,2 -0,3 0,3 2,0 2,1
Kala- ja kalatoodete segment.
Kala- ja kalatoodete müügikasv 3. kvartalis oli 2,6 miljonit eurot, kerkides
2010.aasta 6,0 miljonilt 8,6 miljonile eurole. 9 kuu kokkuvõttes on kala ja
kalatoodete segment näidanud 5,4 miljoni euro suurust ehk 26%-list käibekasvu.
2011.aasta 9 kuu keskmine brutomarginaal oli 6 protsendipunkti võrra kõrgem kui
aasta varem, ulatudes 18%-ni. Sealjuures 3.kvartalis tegi brutokasumlikkus
võimsa hüppe, ulatudes 22%-ni, kui eelmise aasta samal perioodil oli
brutomarginaal 15%.
Kalasegmendi EBITDA äritegevusest on kasvanud 9 kuu kokkuvõttes 39% ehk 0,6
miljoni euro võrra, sealjuures 2010.aasta 9 kuu EBITDA sisaldas endas 1,1
miljoni euro ulatuses kindlustushüvitist saamatajäänud kasumi ning
investeeringute kompenseerimiseks.
Jäätisesegment.
Jäätisemüügi tippajaks on tavapäraselt suvekuud ehk siis 2.-3. kvartal ning
hindamaks jäätisesegmendi edukust kõrghooajal, tuleb võrrelda 2.- 3. kvartali
tulemusi 2011. ja 2010.aastal.
Kui 2010.aastal oli suvi hilisem ning suurtarbimine jäi 3.kvartalisse, siis
2011.aastal oli vastupidi- jäätise kõrgaeg langes teise kvartalisse.
Jäätise müügitulu on kasvanud 0,4 miljoni euro võrra ning brutokasum on
säilinud samal tasemel 2010.aasta võrreldavate perioodidega. Ka 9 kuu
kokkuvõttes on Premia jäätisesegment olnud edukas ning käive võrreldes
2010.aasta sama perioodiga kasvanud 2,5 miljoni euro ehk 11% võrra.
9 kuu kokkuvõttes on jäätisesegmendi brutokasum kasvanud 0,3 miljoni euro
võrra, jõudes 9,8 miljoni euroni.
Jäätisesegment andis 9 kuu kokkuvõttes suurima osa Premia EBITDAst, moodustades
2,4 miljonit eurot.
Külmkaubasegment.
Külmkaubasegment tegi 3.kvartalis võimsa arengu. Segmendi käive kasvas
3.kvartalis võrreldes aastataguse ajaga 16%, jõudes 5,6 miljoni euroni.
Külmkauba käive kasvas 3.kvartalis kõigil sihtturgudel. 9 kuu kokkuvõttes on
selle segmendi käive kasvanud 0,6 miljoni euro võrra, ulatudes 15,5 miljoni
euroni, sealjuures oma tubli panuse käibekasvu on andnud Läti ja Leedu turud.
3.kvartalis teenis külmkaubasegment ka rekordilise brutokasumi, kasvades
2010.aasta 1,1 miljonilt eurolt 1,4 miljoni euroni. EBITDAgi näitab positiivset
liikumist, sest 3. kvartalis kasvas see 0,2 miljoni euro võrra ning 9 kuu
kokkuvõttes võrrelduna 2010.aastaga 0,5 miljoni euro võrra. Tulemus on
märkimisväärne, kuna selle segmendi EBITDA oli viimati plusspoolel 2009.aastal.
9 kuu kokkuvõttes on võrreldes 2010.aastaga kasvanud kõigi Premia sihtturgude
käibed. Enim, 24%, on 9 kuu kokkuvõttes käive kasvanud Soomes, millele järgneb
Eesti 16%-lise käibekasvuga.
Lisainfo:
Kuldar Leis
Premia Foods
Juhatuse esimees
T: 6 033 800
[email protected]
www.premiafoods.eu
Content of announcement in English
Title
PRF: Unaudited financial results of AS Premia Foods, 3rd quarter and 9 months, 2011
Message
Tallinn, Estonia, 2011-11-21 15:00 CET (GLOBE NEWSWIRE) --
The consolidated turnover of the company of the first 9 months was 68.3 million
euro, having increased by 8.8 million euro, i.e. 15% if compared to the
previous year. The company's consolidated turnover of the 3rd quarter was 24.1
million euro, having increased by 0.8 million euro, i.e. 4% if compared to the
previous year. The volume of export in the turnover was 72%.
The gross profit of the first 9 months was 18.2 million euro, having increased
by 17%, i.e. 2.6 million euro if compared to the previous year. The gross
profit of the first 9 months has increased in all the business segments, the
best results, if compared to 2010, have been achieved in fish and fish products
and frozen goods business segments.
During the first 9 months, if compared to 2010, there has been positive
development also in the gross margin ratio and the average gross margin of the
first 9 months is 26.6%, which is 0.4 percentage points higher than during the
same period of 2010.
The EBITDA from operations of the first 9 months was 4.2 million euro. The same
number for the previous year was 5.6 million euro. The EBITDA from operations
of 9 months of 2011, excluding one-off expenses and income was 5.3 million
euro; in 2010 the same number was 4.5 million euro. During the first 9 months
2011, the amount of one-off expense arisen in connection with the relocation of
production and logistics operations in Russia was 1.1 million euro. In the
numbers of the first 9 months of 2010, the profit includes the insurance
compensation for the loss of profit and needed investments in the fish segment
in the amount of 1.1 million euro, of which 0.8 million euro was paid out in
the 3rd quarter.
During the first 9 months, the company earned 0.7 million euro of net profit.
The group's key ratios of the 3rd quarter and the first 9 months have been
indicated in the following table.
Profit formula Q1 Q2 Q3 9m Q1 Q2 Q3 9m
& 2011 2010
Loss,
EUR
mln
--------------------------------------------------------------------------------
Sales 16.7 27.6 24.1 68.3 15.0 21.3 23.2 59.5
Gross 3.2 8.1 6.8 18.2 3.0 5.5 7.1 15.6
profi
t
EBITDA before -0.6 2.7 2.0 4.2 0.4 1.8 3.5 5.6
from fair
opera value
tions adjustm
ent
EBITDA -1.3 2.2 3.2 4.1 0.0 2.2 4.7 6.9
EBIT -2.3 1.2 2.3 1.2 -0.9 1.3 3.6 3.9
Net -2.0 1.1 1.6 0.7 -1.1 0.8 2.9 2.5
profi
t
Gross Gross 19.4% 29.5% 28.4% 26.6% 20.0% 25.8% 30.5% 26.2%
margi profit
n / Net
sales
EBITDA EBITDA / -7.8% 8.0% 13.3% 6.0% 0.0% 10.3% 20.4% 11.7%
margi Net
n sales
EBIT EBIT / -13.8% 4.4% 9.5% 1.8% -6.1% 5.9% 15.5% 6.6%
margi Net
n sales
Net Net -11.9% 4.0% 6.6% 1.0% -7.6% 3.6% 12.5% 4.2%
margi earning
n s / Net
sales
Operat Operatin 29.6% 23.4% 24.4% 25.3% 25.1% 24.0% 23.8% 24.2%
ing g
expen expense
se s / Net
ratio sales
Balanc formula 31.12. 31.03. 30.06. 30.09. 31.12. 31.03. 30.06. 30.09.
e 2010 2011 2011 2011 2009 2010 2010 2010
Sheet
,
EUR
mln
--------------------------------------------------------------------------------
Net 11.2 14.5 13.0 10.7 18.5 20.1 10.2 9.3
debt
Equity 41.4 39.4 40.1 41.7 27.7 26.6 39.6 42.7
Workin Current 12.8 12.1 12.9 15.0 3.3 2.7 8.5 14.0
g Assets
capit -
al Current
Liabili
ties
Assets 68.9 68.9 70.6 66.2 62.8 62.4 74.6 70.8
Liquid Current 1.87 1.75 1.73 2.27 1.15 1.12 1.36 1.92
ity Assets
ratio /
Current
Liabili
ties
Equity Equity / 60% 57% 57% 63% 44% 43% 53% 60%
ratio Total
Assets
Gearin Net Debt 21% 27% 24% 20% 40% 43% 21% 18%
g /
ratio (Equity
+ Net
Debt)
Net Net Debt 1,58 2,50 2,24 2,53 2,98 3,15 1,65 1,58
debt- /
to-EBI Trailin
TDA g 12m
EBITDA
ROE 12m Net 4% 1% 2% -1% 3% 5% 3% 1%
Earning
s /
Average
Equity
ROA 12m Net 2% 1% 1% -1% 1% 2% 2% 1%
Earning
s /
Average
Assets
The main figures by business segments of Premia Foods of the 3rd quarter and 9
months:
EUR million Q1 Q2 Q3 9m 2011 Q1 Q2 Q3 9m 2010
--------------------------------------------------------------------------------
Sales
Ice cream 4.0 12.2 9.4 25.7 1.9 9.2 12.0 23.1
Frozen food 4.9 5.0 5.6 15.5 5.0 5.1 4.8 15.0
Fish and fish products 7.4 9.8 8.6 25.8 7.8 6.7 6.0 20.4
Other 0.3 0.5 0.5 1.3 0.3 0.2 0.4 0.9
Total 16.7 27.6 24.1 68.3 15.0 21.3 23.2 59.5
Gross profit
Ice cream 1.0 5.3 3.5 9.8 0.8 3.8 5.0 9.5
Frozen food 1.1 0.9 1.4 3.5 1.1 1.1 1.1 3.3
Fish and fish products 1.0 1.8 1.9 4.6 1.4 0.2 0.9 2.5
Gross margin
Ice cream 26% 43% 37% 38% 40% 41% 42% 41%
Frozen food 23% 19% 25% 22% 22% 22% 22% 22%
Fish and fish products 13% 18% 22% 18% 18% 2% 15% 12%
EBITDA from operations
(before fair value
adjustment)
Fish and fish products 0.2 0.9 1.0 2.1 0.3 0.2 1.0 1.5
EBITDA
Ice cream -0.4 2.0 0.9 2.4 0.1 1.6 2.8 4.5
Frozen food -0.3 0.1 0.2 0.1 -0.3 -0.1 0.0 -0.4
Fish and fish products -0.5 0.4 2.1 2.0 0.0 0.6 2.3 2.9
EBIT
Ice cream -0.8 1.5 0.5 1.2 -0.1 1.2 2.2 3.3
Frozen food -0.5 0.1 0.0 -0.4 -0.5 -0.2 -0.2 -1.0
Fish and fish products -0.8 0.1 1.9 1.2 -0.3 0.3 2.0 2.1
Fish and fish products business segment
The growth in sales of fish and fish products was 2.6 million euro in the 3rd
quarter, having increased from 6.0 million euro in 2010 to 8.6 million euro.
While summarising the first 9 months, fish and fish products business segment
has indicated turnover growth of 5.4 million euro, i.e. 26%.
The gross profit and gross margin of the fish business segment have improved
materially if compared to the same period of previous year. The average gross
margin of the first 9 months of 2011 was by 6 percentage points higher than a
year before, increasing up to 18%. In the 3rd quarter the gross margin
increased rapidly corresponding to 22%, while during the same period of
previous year the gross margin was 15%.
The EBITDA from operations of the fish business segment has increased during
the first 9 months by 39%, i.e. 0.6 million euro, whereas the EBITDA of the
first 9 months of 2010 included the insurance compensation for lost profit and
needed investments, worth 1.1 million euro.
Ice cream business segment
Usually the high season of ice cream sales is during the summer months, i.e.
the 2nd and 3rd quarter and in order to evaluate the success of the ice cream
business segment during the high season, the results of the 2nd and 3rd quarter
in 2010 and in 2011 should be compared.
While in 2010 the summer was late and the majority of the ice cream consumption
fell into the 3rd quarter, then in 2011 it was the other way around - the high
season of ice cream fell into the 2nd quarter.
The sales turnover of ice cream has increased by 0.4 million euro and the gross
profit has remained in the same level if compared to the comparable periods of
2010. The ice cream business segment can be considered successful also while
summarising the first 9 months period and the turnover if compared to 2010 has
increased by 2.5 million euro, i.e. 11%.
During the first 9 months the gross profit of the ice cream business segment
has increased by 0.3 million euro reaching 9.8 million euro. Overall, the ice
cream business segment generated the greatest part of Premia's EBITDA amounting
to 2.4 million euro.
Frozen goods business segment
The frozen goods business segment indicated remarkable development in the 3rd
quarter. The turnover of the business segment increased in the 3rd quarter by
16% if compared to previous year reaching the level of 5.6 million euro. The
turnover generated from the frozen goods business segment increased in all
target markets. In summary of the first 9 months, the turnover of this business
segment has increased by 0.6 million euro reaching the level of 15.5 million
euro and remarkable input to the growth in turnover has been provided by
Latvian and Lithuanian markets.
In the 3rd quarter, the frozen goods business segment has resulted in the best
gross profit ever, having grown from 1.1 million euro made in 2010 to 1.4
million euro. Also EBITDA has indicated positive trend as in the 3rd quarter it
increased by 0.2 million euro and in the first 9 months, if compared to 2010,
by 0.5 million euro. The result is remarkable as the last time this segment's
EBITDA was positive was in year 2009.
During the first 9 months the turnover numbers in all the target markets of
Premia have increased, if compared to 2010. The greatest growth in turnover was
in Finland, where turnover of 9 months increased by 24%, followed by Estonia,
where the increase of turnover was 16%.
Additional information:
Kuldar Leis
Premia Foods
Chairman of the Management Board
T: +372 6 033 800
[email protected]
www.premiafoods.eu