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PRF: Consolidated turnover of AS Premia Foods, II quarter and 6 months 2011

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The consolidated turnover of the first six months of AS Premia Foods was 44.2
million euro, having grown by 22%, i.e. by 8 million euro per year. 

Tallinn, Estonia, 2011-07-11 15:05 CEST (GLOBE NEWSWIRE) --


2.8 million euro of the turnover growth was generated from the growth of fish
segment, 2.5 million euro from ice cream sold in the Baltics and 2.7 million
euro from ice cream sold in St. Petersburg. 

The turnover of the second quarter of the company was 27.6 million euro, having
grown by 29%, i.e. 6.3 million euro if compared to the last year's same period. 



Turnover by business segment (MEUR)    Q1    Q2    H1    Q1    Q2    H1
                                     2011  2011  2011  2010  2010  2010
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Ice cream                             4.0  12.2  16.3   1.9   9.2  11.1
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Frozen goods                          4.9   5.0  10.0   5.0   5.1  10.1
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Fish and fish products                7.4   9.8  17.2   7.8   6.7  14.5
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Other                                 0.3   0.5   0.8   0.3   0.2   0.5
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Total                                16.6  27.6  44.2  15.0  21.3  36.3
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In the ice cream business segment, Estonian and Latvian markets were the most
successful ones, where the growth in turnover during the first half-year was
47%, i.e. these markets generated additional turnover of respectively 1.4
million euro and 723 thousand euro. In the said period, the growth of ice cream
sales in Lithuania was 12%, which means 327 thousand of additional turnover if
compared to the last year's same period. The greatest input to the turnover
growth as achieved by Premia was generated by the ice cream business segment,
growing altogether 47%, i.e. by 5.2 million euro during the first half-year.
The remarkable growth numbers in all the target markets have been achieved due
to solid brand portfolio and duly and timely scheduled successful marketing
campaigns. 

The greatest growth in the frozen goods business segment came from the
Lithuanian market where the growth was 16%, which meant additional turnover of
162 thousand euro in the referred market if compared to the last year's same
period. The business segment as a whole continues in the same range as in 2010,
whereas in all target markets the consumption of the products in the upper end
of the price range such as potatoe products, pizzas etc. has grown
significantly and the volume of cheaper pre-fabricated products in the
products' portfolio has decreased. 

The fish and fish products business segment has improved significantly, having
generated additional turnover of 2.8 million euro during the first half-year
period, which means 19% growth in turnover in that business segment. Finland,
the main target market of Premia's chilled fish products, generated, compared
to the first half-year of 2010, additional turnover in the amount of 1.3
million euro (growth 10%). Also Estonian market contributed total of 1.3
million euro to the turnover growth, which means that the sales volumes of
chilled fish grew 2.2 times in the Estonian market. In Latvia and Lithuania the
sales of chilled fish also indicated growing trends and the volumes increased
more than 4 times in both of the markets, generating altogether 132 thousand
euro of additional turnover. The success in the fish segment was the result of
successful marketing campaigns in Finland and in Estonia and well-sped launch
of new products in all the fish products' target markets. 



Turnover per target market (MEUR)    Q1    Q2    H1    Q1    Q2    H1
                                   2011  2011  2011  2010  2010  2010
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Finland                             6.3   8.5  14.8   7.0   6.6  13.5
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Estonia                             4.7   7.5  12.1   4.3   5.2   9.5
---------------------------------------------------------------------
Latvia                              2.3   3.6   5.9   2.3   2.9   5.2
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Lithunia                            1.4   3.6   5.1   1.3   3.1   4.4
---------------------------------------------------------------------
Russia                              1.9   4.3   6.2     0   3.5   3.5
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Total                              16.6  27.6  44.2  15.0  21.3  36.3
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The greatest growth of turnover in all the target markets came from the
Estonian market, which provided 2.6 million euro of additional turnover during
the first half-year of 2011, which meant 28% turnover growth. The growth came
from ice cream and fish products business segments. With its 12.1 million euro
turnover, the Estonian market is on the second position among all Premia's
target markets. 

Russia contributed 2.7 million euro of additional turnover in the first
half-year and with its 6.2 million euro turnover in the half-year is on the
third position among all Premia's target markets, whereas in the first
half-year of 2010 only the results of May and June are reflected in the numbers
of this market as the consolidation of the financial results of that market was
started only as from 1 May 2010. In St. Petersburg's market, the ice cream
season has started successfully for Premia, whereas the main focus has been
placed to the expansion of the existing trademarks and the summer marketing
campaigns are already on the way. 

Finland is turnover-wise the largest of all the target markets of Premia and
the growth of half-year in this market was 10%, which resulted in 1.3 million
euro of additional turnover. The growth in turnover was achieved by launch of
new products in the beginning of May but also multiple successful marketing
campaigns in the largest retail chains during the first half-year. 

The growth in turnover in Latvia during the first half-year was 13%, which
resulted in 678 thousand euro of additional turnover. With its turnover of 5.9
million euro achieved in the first half-year, Latvia was on the fourth position
among all Premia's target markets. The main input to the growth in turnover
came from successful ice cream sales, including launch of new products. The
sales of fish products marketed under Viking brand is also continuously
growing. 

The growth in turnover in Lithuania was 14% and the input of such growth to the
additional turnover of Premia group amounted up to 622 thousand euro. With its
5 million euro turnover achieved during the first half-year the Lithuanian
market is on the fifth position among all Premia's target markets. The main
factors having positive impact on Lithuania's growth were the success of ice
cream business segment and hard work in the frozen goods business segment. 


         Additional information:
         Kuldar Leis
         Premia Foods
         Chairman of Management Board
         T: +372 6 033 800
         [email protected]
         www.premiafoods.eu