Börsiteade

Pealkiri

PRF: Unaudited preliminary consolidated turnover of AS PRFoods in the 3rd quarter of 2019

Teade

PRFoods'  unaudited preliminary consolidated turnover in 3Q 2019 (i.e. 1Q of the
fiscal  year 2019/2020) amounted to EUR 19.32 million euros (19.40 million euros
in 3Q 2018).

The third quarter of 2019 was characterized by a general decline of raw material
prices  for fish  products, resulting  in lower  prices for  both fish  and fish
fillets,  and smoked products.  Despite the ca  5% decrease in the  price of the
Group's  main products, we managed to increase  the share of other fish products
and  keep the total turnover largely at the  level of last year. The turnover of
other  fish  products  increased  by  1.01 million  euros, whereas turnover from
smoked  fish product group and raw fish  and fillets' product group decreased by
0.54 million euros and 0.48 million euros, respectively.

The  Group's revenue structure has  changed both in regard  to product groups as
well as client groups compared to the same period a year ago. The share of other
fish  products increased  by 5.30 percentage  points. The  share of raw fish and
fillets' product group in total turnover decreased by 2.33 percentage points and
the share of smoked fish products decreased by 2.64 percentage points.

+-----------------------------------+-------+--------+-------+--------+
|Turnover by product groups, mln EUR|3Q 2019|Share, %|3Q 2018|Share, %|
+-----------------------------------+-------+--------+-------+--------+
|Raw fish and fillets               |   8.07|  41.78%|   8.55|  44.11%|
+-----------------------------------+-------+--------+-------+--------+
|Smoked products                    |   8.11|  42.00%|   8.66|  44.63%|
+-----------------------------------+-------+--------+-------+--------+
|Other fish products                |   3.11|  16.11%|   2.10|  10.82%|
+-----------------------------------+-------+--------+-------+--------+
|Other revenue                      |   0.02|   0.11%|   0.09|   0.44%|
+-----------------------------------+-------+--------+-------+--------+
|Total                              |  19.32| 100.00%|  19.40| 100.00%|
+-----------------------------------+-------+--------+-------+--------+

The  share of  HoReCa and  wholesale client  groups increased by 3.54 percentage
points  and by 0.55 percentage points, respectively.  The share of retail client
group decreased by 4.76 percentage points.

+------------------------------------+---------+----------+---------+----------+
| Turnover by client groups, mln EUR | 3Q 2019 | Share, % | 3Q 2018 | Share, % |
+------------------------------------+---------+----------+---------+----------+
| Retail chains                      |    7.52 |   38.92% |    8.47 |   43.68% |
+------------------------------------+---------+----------+---------+----------+
| Wholesale                          |    6.14 |   31.79% |    6.06 |   31.24% |
+------------------------------------+---------+----------+---------+----------+
| HoReCa                             |    5.20 |   26.94% |    4.54 |   23.40% |
+------------------------------------+---------+----------+---------+----------+
| Other revenue                      |    0.45 |    2.35% |    0.33 |    1.68% |
+------------------------------------+---------+----------+---------+----------+
| Total                              |   19.32 |  100.00% |   19.40 |  100.00% |
+------------------------------------+---------+----------+---------+----------+

The  three largest  markets had  an aggregated  turnover of  17.32 million euros
accounting  for 89.68% of total sales in 3Q 2019 compared to 17.77 million euros
in  3Q 2018, when the  turnover of  the largest  markets accounted for 91.64% of
total  sales. The share of other countries  in total turnover increased by 1.96
percentage points.

+--------------------------------+---------+----------+---------+----------+
| Turnover by countries, mln EUR | 3Q 2019 | Share, % | 3Q 2018 | Share, % |
+--------------------------------+---------+----------+---------+----------+
| Finland                        |   13.08 |   67.72% |   13.79 |   71.08% |
+--------------------------------+---------+----------+---------+----------+
| Great Britain                  |    2.79 |   14.42% |    2.87 |   14.82% |
+--------------------------------+---------+----------+---------+----------+
| Estonia                        |    1.46 |    7.53% |    1.11 |    5.74% |
+--------------------------------+---------+----------+---------+----------+
| Other countries                |    1.99 |   10.32% |    1.62 |    8.36% |
+--------------------------------+---------+----------+---------+----------+
| Total                          |   19.32 |  100.00% |   19.40 |  100.00% |
+--------------------------------+---------+----------+---------+----------+

Among  other  countries,  turnover  of  Latvia  (turnover  3Q 2019: 0.69 million
euros),  France (0.29  million euros),  Belgium (0.24  million euros) and Greece
(0.19 million euros) were the largest ones.

Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 452 1470
[email protected]
www.prfoods.ee