Börsiteade
AS PRFoods
LEI kood
529900PFXFO2ZDCRNK93
Emitendi suuruskategooria
Keskmise suurusega kontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Teadet on parandatud.
Parandatud versioon
Kategooriad
Poolaastaaruanne
Teate ID
6860
Manused
Esitamise kuupäev ja aeg
31.08.2018 23:57:16
Teate sisu eesti keeles
Pealkiri
PRF: AS-i PRFoods 2018. aasta 2. kvartali ja 15 kuud 2017/2018 konsolideeritud auditeerimata vahearuanne
Teade
Ülevaade majandustegevusest
Juhtkonna kommentaar
PRFoodsi esimene muudetud finantsaasta on lõppenud. Tuletame meelde, et seoses
üleminekuga uuele kalendrile pikenes eelmine finantsaasta 18 kuule. 01.07.2018
algab finantsasta on tavapäraselt 12 kuud ja lõpeb 30.06.2019
PRFoodsi jaoks oli eelmine finantsaasta murranguline. Omandati kaks ettevõtet,
Soomes ja Suurbritannias, mille tulemusel kasvas kontserni käive üle kahe korra.
Ettevõtte fookus tooraine osas püsib sama ning keskendume lõheliste
kasvatamisele ja töötlemisele. Tooteportfell laienes eelkõige premium-segmendi
kala ja värske kala osas. Algaval finantsaastal keskendume sünergiate
saavutamisele läbi grupi tegevusvaldkondade sisemisele korraldamsiele ning
efektiivsuse parandamisele ning oluliselt agressiivsema turundustegevuse kaudu.
PRFoods 2017/2018 pro forma 18-kuuline finantsaasta lõppes 154,6 miljoni euro
suuruse käibe ja 7,3 miljoni euro suuruse EBITDA-ga äritegevusest (EBITDA koos
biomassi ümberhindlusega ja ühekordsete kuludega oli EBITDA 6,0 miljonit eurot.
Ühekordsed kulud tekkisid seoses tehingute kuludega). Netokasumiks kujunes 0,9
miljonit eurot.
18 kuu konsolideeritud tulemused on järgnevad:
* Auditeerimata konsolideeritud käive 118,50 miljonit eurot, kasv +149,8% ehk
+71,07 miljonit eurot.
* Brutomarginaal 12,4%, kahanemine -1,9 protsendipunkti.
* Bioloogiliste varade ümberhindluse negatiivne mõju -0,52 miljonit eurot (12
kuud 2016: positiivne mõju +2,26 miljonit eurot).
* Ühekordsete kulude mõju tulemusele -0,82 miljonit eurot (12 kuud 2016:
negatiivne mõju -0,40 miljonit eurot).
* EBITDA äritegevusest +5,84 miljonit eurot, kasv +5,09 miljonit eurot.
* EBITDA +4,49 miljonit eurot, kasv +1,88 miljonit eurot (ilma ühekordsete
kulude mõjuta EBITDA +5,32 miljonit eurot, kasv +2,30 miljonit eurot).
* Ärikasum +1,84 miljonit eurot, kasv +0,46 miljonit eurot (ilma ühekordsete
kulude mõjuta ärikasum +2,67 miljonit eurot, kasv +0,89 miljonit eurot).
* Puhaskasum +0,32 miljonit eurot, kahanemine -0,39 miljonit eurot (ilma
ühekordsete kulude mõjuta puhaskasum +1,15 miljonit eurot, kasv +0,03
miljonit eurot).
Kuigi aintud tulemustega võib rahule jääda ning nad vastavad juhtkonna
ootustele, tuli arvesse võtta, et tooraine kallinemine oli märkimisväärne.
Juhtkonna hinnangul lõheliste hind püsib samal tasemel lähi- ja keskpikas
perspektiivis, kuna nõudlus ületab oluliselt pakkumist. Sellest tulenevalt oleme
võtnud ette kava laiendada oluliselt meie enda kalakasvatuse mahtu ning
eesmärgiks on suurendada oma kasvatatud kala mahtu 2-3 korda tänasest.
PRFoodsi bilanss on jätkuvalt tugev. Netovõla suhe on 3 korda EBITDAsse,
netovõla tase on 18 miljonit eurot, omakapital 23,7 miljonit eurot.
2018. aasta 2. kvartali tulemused on toodud all:
* Auditeerimata konsolideeritud käive 22,15 miljonit eurot, kasv +69,5% ehk
+9,08 miljonit eurot.
* Brutomarginaal 7,7%, kasv +0,2 protsendipunkti ehk +2,5%.
* Bioloogiliste varade ümberhindluse positiivne mõju +1,10 miljonit eurot (2.
kvartal 2017: positiivne mõju +0,42 miljonit eurot).
* Ühekordsete kulude mõju tulemusele -0,51 miljonit eurot (2. kvartal 2017:
negatiivne mõju -0,21 miljonit eurot).
* EBITDA äritegevusest -0,23 miljonit eurot, kahanemine -0,36 miljonit eurot.
* EBITDA +0,36 miljonit eurot, kasv +0,02 miljonit eurot (ilma ühekordsete
kulude mõjuta EBITDA +0,87 miljonit eurot, kasv +0,32 miljonit eurot).
* Ärikahjum -0,13 miljonit eurot, kasv -0,16 miljonit eurot (ilma ühekordsete
kulude mõjuta ärikasum +0,38 miljonit eurot, kasv +0,14 miljonit eurot).
* Puhaskahjum -0,64 miljonit eurot, kasv -0,51 miljonit eurot (ilma
ühekordsete kulude mõjuta puhaskahjum -0,13 miljonit eurot, kasv -0,21
miljonit eurot).
2. kvartali tulemused on ootuspärased. Toorkala hinna muutus oli suurem
oodatust, mistõttu toorkala kasumlikkuse osakaal oli madalam. Samuti vähenes
toorkala müük Soomes ühe suure kliendi lahkumise tõttu. Samas oleme saavutanud
uusi müügilepinguid Euroopa Liidus ning märkimisväärselt on kasvamas müük Aasia
suunal.
Juhtkond on rahul nii 18 kuu kui 2. kvartali tulemustega, täname oma kliente ja
tarnepartnereid ning loodame olla jätkuvalt üks inspireerivamaid tööandjaid
antud sektoris.
Kvartaalne presentatsioon avaldatakse meie kodulehel hiljemalt koos
aastaaruandega.
VÕTMENÄITAJAD
Kasumiaruanne, milj EUR 2kv 2018 2kv 2017 18k 2017 12k 2017 12k 2016
--------------------------------------------------------------------------
Müügitulu 73,6 13,1 118,5 73,6 47,4
--------------------------------------------------------------------------
Brutokasum 10,5 1,0 14,7 10,5 4,0
--------------------------------------------------------------------------
EBITDA äritegevusest 5,4 0,1 5,8 5,4 0,8
--------------------------------------------------------------------------
EBITDA 3,6 0,3 4,5 3,6 2,6
--------------------------------------------------------------------------
EBIT 1,9 0,03 1,8 1,9 1,4
--------------------------------------------------------------------------
EBT 1,1 -0,1 0,3 1,1 1,1
--------------------------------------------------------------------------
Puhaskasum (-kahjum) 1,3 -0,1 0,3 1,3 0,7
--------------------------------------------------------------------------
Brutorentaablus 14,3% 7,5% 12,4% 14,3% 8,5%
--------------------------------------------------------------------------
Äritegevuse EBITDA marginaal 7,3% 1,0% 4,9% 7,3% 1,6%
--------------------------------------------------------------------------
EBITDA marginal 4,8% 2,6% 3,8% 4,8% 5,5%
--------------------------------------------------------------------------
EBIT marginal 2,6% 0,2% 1,6% 2,6% 2,9%
--------------------------------------------------------------------------
EBT marginal 1,5% -0,4% 0,3% 1,5% 2,4%
--------------------------------------------------------------------------
Puhasrentaablus 1,8% -1,0% 0,3% 1,8% 1,5%
--------------------------------------------------------------------------
Tegevuskulude suhtarv 10,0% 9,5% 10,4% 10,0% 10,1%
--------------------------------------------------------------------------
Bilanss, milj EUR 30.06.2018 30.06.2017 31.12.2017 31.12.2016
--------------------------------------------------------------------------
Netovõlgnevus 18,1 1,0 16,6 0,3
--------------------------------------------------------------------------
Omakapital 23,7 22,7 24,7 23,8
--------------------------------------------------------------------------
Käibekapital 2,8 11,5 5,3 12,4
--------------------------------------------------------------------------
Varad 66,0 33,5 68,6 35,1
--------------------------------------------------------------------------
Likviidsuskordaja 1,1 2,3 1,2 2,4
--------------------------------------------------------------------------
Omakapitali suhtarv 35,9% 67,8% 36,0% 67,9%
--------------------------------------------------------------------------
Finantsvõimendus 43,3% 4,1% 40,1% 1,2%
--------------------------------------------------------------------------
Netovõlg/EBITDA 3,0 1,6 3,1 0,4
--------------------------------------------------------------------------
Omakapitali tootlus 5,6% 0,7% 1,3% 3,0%
--------------------------------------------------------------------------
Varade tootlus 2,6% 0,5% 2,5% 2,2%
--------------------------------------------------------------------------
Konsolideeritud finantsseisundi aruanne
EUR '000 30.06.2018 30.06.2017 31.12.2017 31.12.2016
-------------------------------------------------------------------------------
VARAD
-------------------------------------------------------------------------------
Raha ja ekvivalendid 5 961 4 088 6 491 4 374
-------------------------------------------------------------------------------
Nõuded ja ettemaksed 4 912 2 694 8 982 4 056
-------------------------------------------------------------------------------
Varud 12 677 5 105 11 747 5 393
-------------------------------------------------------------------------------
Bioloogilised varad 6 498 8 251 5 566 7 584
-------------------------------------------------------------------------------
Käibevara kokku 30 048 20 138 32 786 21 407
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Edasilükkunud tulumaksuvara 212 226 222 230
-------------------------------------------------------------------------------
Pikaajalised finantsinvesteeringud 134 102 102 103
-------------------------------------------------------------------------------
Materiaalne põhivara 12 730 7 019 13 225 7 285
-------------------------------------------------------------------------------
Immateriaalne vara 22 877 5 981 22 294 6 031
-------------------------------------------------------------------------------
Põhivara kokku 35 953 13 328 35 843 13 649
-------------------------------------------------------------------------------
VARAD KOKKU 66 001 33 466 68 629 35 056
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
-------------------------------------------------------------------------------
Võlakohustused 12 562 4 266 10 105 3 716
-------------------------------------------------------------------------------
Võlad ja ettemaksed 14 422 4 243 17 115 5 131
-------------------------------------------------------------------------------
Sihtfinantseerimine 216 170 306 162
-------------------------------------------------------------------------------
Lühiajalised kohustused kokku 27 200 8 679 27 526 9 009
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Võlakohustused 11 460 788 12 957 940
-------------------------------------------------------------------------------
Edasilükkunud tulumaksukohustus 2 436 758 2 267 747
-------------------------------------------------------------------------------
Sihtfinantseerimine 1 226 544 1 144 551
-------------------------------------------------------------------------------
Pikaajalised kohustused kokku 15 122 2 090 16 368 2 238
-------------------------------------------------------------------------------
KOHUSTUSED KOKKU 42 322 10 769 43 894 11 247
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Aktsiakapital 7 737 7 737 7 737 7 737
-------------------------------------------------------------------------------
Ülekurss 14 007 14 007 14 007 14 007
-------------------------------------------------------------------------------
Oma aktsiad -390 -390 -390 -256
-------------------------------------------------------------------------------
Kohustuslik reservkapital 48 48 48 12
-------------------------------------------------------------------------------
Realiseerimata kursivahed 111 417 173 428
-------------------------------------------------------------------------------
Jaotamata kasum (-kahjum) 2 151 878 3 096 1 881
-------------------------------------------------------------------------------
Ettevõtte aktsionäridele kuuluv
osa 23 664 22 697 24 671 23 809
-------------------------------------------------------------------------------
Väikeaktsionäridele kuuluv osa 15 0 64 0
-------------------------------------------------------------------------------
OMAKAPITAL KOKKU 23 679 22 697 24 735 23 809
-------------------------------------------------------------------------------
OMAKAPITAL JA KOHUSTUSED KOKKU 66 001 33 466 68 629 35 056
-------------------------------------------------------------------------------
Konsolideeritud koondkasumiaruanne
EUR '000 2kv 2018 2kv 2017 18k 2017 12k 2017 12k 2016
-------------------------------------------------------------------------------
Müügitulud 22 149 13 066 118 499 73 610 47,429
-------------------------------------------------------------------------------
Müüdud kaupade kulu -20 436 -12 081 -103 836 -63 075 -43,410
-------------------------------------------------------------------------------
Brutokasum 1 713 985 14 663 10 535 4,019
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Tegevuskulud -2 591 -1 237 -12 336 -7 365 -4,785
-------------------------------------------------------------------------------
Turundus- ja müügikulud -1 900 -879 -8 797 -5 209 -3,346
-------------------------------------------------------------------------------
Üldhalduskulud -691 -358 -3 539 -2 156 -1,439
-------------------------------------------------------------------------------
Muud äritulud/-kulud -352 -138 40 240 -118
-------------------------------------------------------------------------------
Bioloogiliste varade ümberhindlus 1 099 420 -524 -1 505 2,263
-------------------------------------------------------------------------------
Ärikasum (-kahjum) -131 30 1 843 1 905 1,379
-------------------------------------------------------------------------------
Finantstulud 4 -5 10 4 2
-------------------------------------------------------------------------------
Finantskulud -326 -80 -1 519 -802 -240
-------------------------------------------------------------------------------
Maksustamiseelne kasum (-kahjum) -453 -55 334 1 107 1,141
-------------------------------------------------------------------------------
Tulumaks -189 -73 -13 208 -426
-------------------------------------------------------------------------------
Aruandeperioodi puhaskasum (-
kahjum) -642 -128 321 1 315 715
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Aruandeperioodi puhaskasumi (-
kahjum) jaotus:
-------------------------------------------------------------------------------
emaettevõtte aktsionäridele
kuuluv osa -585 -128 306 1 251 715
-------------------------------------------------------------------------------
Väikeaktsionäridele kuuluv osa -57 0 15 64 0
-------------------------------------------------------------------------------
Aruandeperioodi puhaskasumi (-
kahjum) kokku -642 -128 321 1 315 715
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Muu koondkasum (-kahjum), mida
võib hiljem klassifitseerida
kasumiaruandesse:
-------------------------------------------------------------------------------
Valuutakursi vahed -1 -11 -317 -255 -43
-------------------------------------------------------------------------------
Kokku koondkasum (-kahjum) -643 -139 4 1 060 672
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Aruandeperioodi koondkasumi (-
kahjum) jaotus:
-------------------------------------------------------------------------------
emaettevõtte aktsionäridele
kuuluv osa -586 -139 -11 996 672
-------------------------------------------------------------------------------
Väikeaktsionäridele kuuluv osa -57 0 15 64 0
-------------------------------------------------------------------------------
Aruandeperioodi koondkasum (-
kahjum) kokku -643 -139 4 1 060 672
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Tava puhaskasum (-kahjum) aktsia
kohta (EUR) -0,02 0,00 0,00 0,03 0,02
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Lahustatud puhaskasum (-kahjum)
aktsia kohta (EUR) -0,02 0,00 0,00 0,03 0,02
-------------------------------------------------------------------------------
Indrek Kasela
AS PRFoods
Juhatuse liige
T: +372 452 1470
[email protected]
www.prfoods.ee
Manus
* PRF_vahearuanne_18k2017 (https://prlibrary-
eu.nasdaq.com/Resource/Download/a2c89c70-7b06-4a42-a786-af3a20ed7260)
Teate sisu inglise keeles
Pealkiri
PRF: Consolidated Unaudited Interim Report of AS PRFoods for 2st quarter of 2018 and 18 months of 2017/2018
Teade
Overview of the economic activities
Management commentary
PRFoods' first amended financial year has ended. We kindly remind you that as we
changed our accounting calendar, the last financial year extended to 18 months.
Financial year that began on 01.07.2018 lasts 12 months as usual and ends
30.06.2019.
For PRFoods last financial year was ground-breaking. We acquired two companies,
in Finland and in Great Britain, and as a result our revenues grew more than two
times. The focus of our business stays the same and we concentrate on farming
and processing salmonoids. Our product portfolio was extended primarily in
premium processed fish and fresh fish trading. During the current financial
year, we focus on achieving the synergies through reorganization of our
operations and further efficiencies and significantly more aggressive marketing
efforts.
PRFoods 2017/18 pro forma 18- month revenues were 154.6 million euros, EBITDA
from operations was 7.3 million euros (EBITDA including biomass revaluation and
one-offs was 6.0 million euros. One-offs were related to transactions costs).
Net profit was 0.9 million euros.
18 months consolidated results are as follows:
* Unaudited consolidated revenue 118.50 million euros, increase +71.07 million
euros, i.e. +149.8%.
* Gross margin 12.4%, decrease -1.9 percentage points.
* Negative impact from revaluation of biological assets -0.52 million euros
(12 months 2016: positive impact of
+2.26 million euros).
* Effect of one-offs to the result -0.82 million euros (12 month 2016:
negative influence -0.40 million euros).
* EBITDA from operations +5.84 million euros, increase +5.09 million euros.
* EBITDA +4.49 million euros, increase +1.88 million euros (without one-off
effects EBITDA +5.32 million euros, increase +2.30 million euros).
* The operating profit +1.84 million euros, increase +0.46 million euros
(without one-off effects operating profit +2.67 million euros, increase
+0.89 million euros).
* Net profit +0.32 million euros, decrease -0.39 million euros (without one-
off effects net profit +1.15 million euros, increase +0.03 million euros).
Although we are content with the results and they meet management's
expectations, we have to take into account the significant fluctuations in raw
material prices. In the opinion of the management, the price of salmonoids
remains at the same level in near- and mid-term perspective, as demand outstrips
supply. As a result of this, we have undertaken a plan to increase substantially
our Fish farming capacity and the target is to increase the capacity by 2-3
times from today's capacity.
PRFoods balance sheet remains strong. Net Debt to EBITDA is 3 times, net debt
stands at 18 million euros, equity is at 23.7 million euros.
2018 2(nd) quarter results are summarized below:
* Unaudited consolidated revenue 22.15 million euros, increase +9.08 million
euros, i.e. +69.5%.
* Gross margin 7.7%, increase +0.2 percentage points, i.e. +2.5%.
* Positive impact from revaluation of biological assets +1.10 million euros
(Q2 2017: positive effect +0.42 million euros).
* Effect of one-offs to the result -0.51 million euros (12 month 2016:
negative influence -0.21 million euros).
* EBITDA from operations -0.23 million euros, decrease -0.36 million euros.
* EBITDA +0.36 million euros, increase +0.02 million euros (without one-off
effects EBITDA +0.87 million euros, increase +0.32 million euros).
* The operating loss -0.13 million euros, increase -0.16 million euros
(without one-off effects operating profit +0.38 million euros, increase
+0.14 million euros).
* Net loss -0.64 million euros, increase -0.51 million (without one-off
effects net loss -0.13 million euros, increase -0.21 million euros.
2(nd) quarter results are as expected. Change in raw material price was bigger
than anticipated, and as result the profitability of fresh Fish trading was
lower. The sale of fresh Fish was also lower in Finland due to the loss of major
client. At the same time, we gained new clients in European Union and see
significant growth in sales to Asia.
Management is content with financial year results. We would like to thank our
clients and partners and hope to be an inspirational employer in our sector.
Quarterly presentation will be published on our website latest with annual
report.
KEY RATIOS
Income Statement, EUR mln Q2 2018 Q2 2017 18m 2017 12m 2017 12m 2016
---------------------------------------------------------------------
Sales 22.1 13.1 118.5 73.6 47.4
---------------------------------------------------------------------
Gross profit 1.7 1.0 14.7 10.5 4.0
---------------------------------------------------------------------
EBITDA from operations -0.2 0.1 5.8 5.4 0.8
---------------------------------------------------------------------
EBITDA 0.4 0.3 4.5 3.6 2.6
---------------------------------------------------------------------
EBIT -0.1 0.03 1.8 1.9 1.4
---------------------------------------------------------------------
EBT -0.5 -0.1 0.3 1.1 1.1
---------------------------------------------------------------------
Net profit (-loss) -0.6 -0.1 0.3 1.3 0.7
---------------------------------------------------------------------
Gross margin 7.7% 7.5% 12.4% 14.3% 8.5%
---------------------------------------------------------------------
Operational EBITDA margin -1.0% 1.0% 4.9% 7.3% 1.6%
---------------------------------------------------------------------
EBITDA margin 1.6% 2.6% 3.8% 4.8% 5.5%
---------------------------------------------------------------------
EBIT margin -0.6% 0.2% 1.6% 2.6% 2.9%
---------------------------------------------------------------------
EBT margin -2.0% -0.4% 0.3% 1.5% 2.4%
---------------------------------------------------------------------
Net margin -2.9% -1.0% 0.3% 1.8% 1.5%
---------------------------------------------------------------------
Operating expense ratio 11.7% 9.5% 10.4% 10.0% 10.1%
---------------------------------------------------------------------
Balance Sheet, EUR mln 31.03.2018 31.03.2017 31.12.2017 31.12.2016
-----------------------------------------------------------------------------
Net debt 18.1 1.0 16.6 0.3
-----------------------------------------------------------------------------
Equity 23.7 22.7 24.7 23.8
-----------------------------------------------------------------------------
Working capital 2.8 11.5 5.3 12.4
-----------------------------------------------------------------------------
Assets 66.0 33.5 68.6 35.1
-----------------------------------------------------------------------------
Liquidity ratio 1.1 2.3 1.2 2.4
-----------------------------------------------------------------------------
Equity ratio 35.9% 67.8% 36.0% 67.9%
-----------------------------------------------------------------------------
Gearing ratio 43.3% 4.1% 40.1% 1.2%
-----------------------------------------------------------------------------
Net debt-to-EBITDA 3.0 1.6 3.1 0.4
-----------------------------------------------------------------------------
ROE 5.6% 0.7% 1.3% 3.0%
-----------------------------------------------------------------------------
ROA 2.6% 0.5% 2.5% 2.2%
-----------------------------------------------------------------------------
Consolidated statement of financial position
EUR '000 30.06.2018 30.06.2017 31.12.2017 31.12.2016
----------------------------------------------------------------------------
ASSETS
----------------------------------------------------------------------------
Cash and cash equivalents 5,961 4,088 6,491 4,374
----------------------------------------------------------------------------
Receivables and prepayments 4,912 2,694 8,982 4,056
----------------------------------------------------------------------------
Inventories 12,677 5,105 11,747 5,393
----------------------------------------------------------------------------
Biological assets 6,498 8,251 5,566 7,584
----------------------------------------------------------------------------
Total current assets 30,048 20,138 32,786 21,407
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Deferred income tax 212 226 222 230
----------------------------------------------------------------------------
Long-term financial investments 134 102 102 103
----------------------------------------------------------------------------
Tangible fixed assets 12,730 7,019 13,225 7,285
----------------------------------------------------------------------------
Intangible assets 22,877 5,981 22,294 6,031
----------------------------------------------------------------------------
Total non-current assets 35,953 13,328 35,843 13,649
----------------------------------------------------------------------------
TOTAL ASSETS 66,001 33,466 68,629 35,056
----------------------------------------------------------------------------
----------------------------------------------------------------------------
EQUITY AND LIABILITIES
----------------------------------------------------------------------------
Loans and borrowings 12,562 4,266 10,105 3,716
----------------------------------------------------------------------------
Payables 14,422 4,243 17,115 5,131
----------------------------------------------------------------------------
Government grants 216 170 306 162
----------------------------------------------------------------------------
Total current liabilities 27,200 8,679 27,526 9,009
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Loans and borrowings 11,460 788 12,957 940
----------------------------------------------------------------------------
Deferred tax liabilities 2,436 758 2,267 747
----------------------------------------------------------------------------
Government grants 1,226 544 1,144 551
----------------------------------------------------------------------------
Total non-current liabilities 15,122 2,090 16,368 2,238
----------------------------------------------------------------------------
TOTAL LIABILITIES 42,322 10,769 43,894 11,247
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Share capital 7,737 7,737 7,737 7,737
----------------------------------------------------------------------------
Share premium 14,007 14,007 14,007 14,007
----------------------------------------------------------------------------
Treasury shares -390 -390 -390 -256
----------------------------------------------------------------------------
Statutory capital reserve 48 48 48 12
----------------------------------------------------------------------------
Currency translation reserve 111 417 173 428
----------------------------------------------------------------------------
Retained profit (-loss) 2,151 878 3,096 1,881
----------------------------------------------------------------------------
Equity attributable to parent 23,664 22,697 24,671 23,809
----------------------------------------------------------------------------
Non-controlling interest 15 0 64 0
----------------------------------------------------------------------------
TOTAL EQUITY 23,679 22,697 24,735 23,809
----------------------------------------------------------------------------
TOTAL EQUITY AND LIABILITIES 66,001 33,466 68,629 35,056
----------------------------------------------------------------------------
Consolidated statement of profit or loss and other comprehensive income
EUR '000 Q2 2018 Q2 2017 18m 2017 12m 2017 12m 2016
-------------------------------------------------------------------------------
Sales 22,149 13,066 118,499 73,610 47,429
-------------------------------------------------------------------------------
Cost of goods sold -20,436 -12,081 -103,836 -63,075 -43,410
-------------------------------------------------------------------------------
Gross profit 1,713 985 14,663 10,535 4,019
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Operating expenses -2,591 -1,237 -12,336 -7,365 -4,785
-------------------------------------------------------------------------------
Selling and distribution expenses -1,900 -879 -8,797 -5,209 -3,346
-------------------------------------------------------------------------------
Administrative expenses -691 -358 -3,539 -2,156 -1,439
-------------------------------------------------------------------------------
Other income/expenses -352 -138 40 240 -118
-------------------------------------------------------------------------------
Fair value adjustment on biological
assets 1,099 420 -524 -1,505 2,263
-------------------------------------------------------------------------------
Operating profit (-loss) -131 30 1,843 1,905 1,379
-------------------------------------------------------------------------------
Financial income 4 -5 10 4 2
-------------------------------------------------------------------------------
Financial expenses -326 -80 -1,519 -802 -240
-------------------------------------------------------------------------------
Profit (-loss) before tax -453 -55 334 1,107 1,141
-------------------------------------------------------------------------------
Income tax -189 -73 -13 208 -426
-------------------------------------------------------------------------------
Net profit (-loss) for the period -642 -128 321 1,315 715
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Net profit (-loss) attributable to:
-------------------------------------------------------------------------------
Owners of the company -585 -128 306 1,251 715
-------------------------------------------------------------------------------
Non-controlling interests -57 0 15 64 0
-------------------------------------------------------------------------------
Total net profit (-loss) -642 -128 321 1,315 715
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Other comprehensive income (-loss)
that may subsequently be classified
to profit or loss:
-------------------------------------------------------------------------------
Foreign currency translation
differences -1 -11 -317 -255 -43
-------------------------------------------------------------------------------
Total comprehensive income (-
expense) -643 -139 4 1,060 672
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Total comprehensive income (-
expense) attributable to:
-------------------------------------------------------------------------------
Owners of the Company -586 -139 -11 996 672
-------------------------------------------------------------------------------
Non-controlling interests -57 0 15 64 0
-------------------------------------------------------------------------------
Total comprehensive income (-
expense) for the period -643 -139 4 1,060 672
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Profit (-loss) per share (EUR) -0.02 0.00 0.00 0.03 0.02
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Diluted profit (-loss) per share
(EUR) -0.02 0.00 0.00 0.03 0.02
-------------------------------------------------------------------------------
Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 452 1470
[email protected]
www.prfoods.ee
Attachment
* PRF_interim_18m2017 (https://prlibrary-
eu.nasdaq.com/Resource/Download/0d818dd4-8dab-4ef8-a457-36e900796194)