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PRF: Unaudited consolidated turnover of AS Premia Foods, 1st quarter 2012

Teade

The unaudited consolidated turnover of AS Premia Foods of the 1st quarter 2012
was 17.1 million euro. The growth in turnover if compared to the same period
previous year was 0.5 million euro, i.e. 2.7%. 

Tallinn, Estonia, 2012-04-12 08:00 CEST (GLOBE NEWSWIRE) --


The growth in turnover came from the frozen goods and fish business segments,
which grew by 8% and 3% respectively; in the ice cream business segment certain
backlog could be noted, if compared to the results of the same period previous
year. As to the geographical markets, the Finnish and Baltic markets indicated
the signs of growth, the results of the same period of previous year were not
achieved only in Russia. 

Turnover of business segment    Q1    Q1
(MEUR)                        2012  2011
Ice cream                      3.7   4.0
Frozen goods                   5.3   4.9
Fish and fish products         7.7   7.4
Other                          0.4   0.3
Total                         17.1  16.7

In the ice cream business segment the first quarter with its winter weathers
has always been low season. During this period the purchasing behaviour of
people is mostly driven by habitude, ice cream consumption culture and
assortment available in retail stores. During wintertime, in the target markets
of Premia family ice creams are preferred and the sales of impulse ice creams
decrease significantly. In the countries where the consumption of ice cream
during winter times has historically been low (which means that family ice
creams are not too popular), the fluctuations in the consumption may be
remarkable. For Premia, Lithuania and Russia are the examples of such target
markets where the difference between the consumption of ice cream during winter
and summer periods may be up to 10 times. At the same time in the Estonian
market where the difference of ice cream consumption during winter and summer
times is 2-3 times, the consumption of ice cream during winter period is more
stable and the assortment of family ice creams if compared to Lithuania or
Russia in times wider. 

The turnover of ice cream business segment of the 1st quarter of 2012 was 8%
(i.e. 0.3 million euro) less than during the same period 2011. Such results
were mostly influenced by the Latvian, Lithuanian and Russian markets, where
the ice cream consumption compared to the previous year decreased despite
active marketing campaigns conducted and new products launched during that
period. The consumers were rather passive and in addition to branded products
also the sales of private label products suffered. At the same time the sales
volumes of Premia increased in the Estonian and Finnish markets, which are
active also during the winter period. 

The sales of frozen goods were active, which is characteristic to winter period
and the growth in sales volumes occurred in the last half-year of 2011
continued also in the 1st quarter of 2012. The turnover of frozen goods
increased in all Premia’s target markets, i.e. in Estonia, Latvia and
Lithuania, whereas the greatest growth was achieved in the Lithuanian market.
The business segment as a whole achieved 8% growth in turnover and this is the
result of active marketing campaigns and launch of new products. In all the
target markets, the HoReCa sector is also activating. 

The turnover of fish and fish products business segment increased in the 1st
quarter 2012 by 3% if compared to the same period previous year and this is
mainly the result of active sales work and achievements in the field of product
development in the Finnish HoReCa sector.  In the Finnish HoReCa sector Premia
sells pre-processed and packaged fish products with higher additional value and
unpackaged raw fish. The sales volumes of salted and graved but also marinated
products sold to HoReCa sector have increased in both – in the Estonian and
Finnish markets, whereas the continuous growth of the sales of chilled and
packaged fish products sold under the Viking brand could also be noted.  The
fish business segment in Finland and Lithuania is influenced by the Easter
holidays, which in 2012 similarly to 2011 fall into the 2nd quarter. 

Turnover on target markets (MEUR)    Q1    Q1
                                   2012  2011
Finland                             6.7   6.3
Estonia                             4.9   4.7
Latvia                              2.4   2.3
Russia                              1.5   1.9
Lithuania                           1.6   1.4
Other                                 0     0
Total                              17.1  16.7

The Finnish market indicated the greatest growth in turnover being 0.4 million
euro, whereas the turnover in that market increased in both, fish and ice cream
business segments. Estonia and Latvia generated 5% turnover growth, i.e. 0.2
million euro and 0.1 million euro, respectively, whereas in Estonia the ice
cream business segment and in Latvia frozen goods business segment increased
the most. 0.2 million euro, i.e. 12% growth in turnover was in the 1st quarter
achieved in Lithuania where the growth was mainly generated in the frozen goods
business segment. In the Russian market, where Premia is engaged in ice cream
sales only, in the 1st quarter there was a loss in turnover amounting to 0.4
million euro if compared to the same period previous year, which has occurred
due to the peculiarities of consumption common to winter period but also due to
the winter period changes in the assortments in the largest retail chains of
St. Petersburg. 






         Additional information:
         Kuldar Leis
         Premia Foods
         Chairman of Management Board
         T: 6 033 800
         [email protected]
         www.premiafoods.eu