Börsiteade

Pealkiri

PRF: Unaudited consolidated turnover of AS Premia Foods, 2nd quarter and 6 months, 2014

Teade

The unaudited consolidated turnover of Premia Foods increased in the 2nd
quarter compared to the 2nd quarter 2013 by 4.6%, i.e. by 1.3 million euro,
reaching 29.1 million euro. The unaudited consolidated turnover of 6 months
2014 was 49.5 million euro, having increased by a year by altogether 7.5%, i.e.
3.5 million euro. 

In the summary of 6 months of 2014, both, fish business segment and frozen
goods business segment, indicated growth. The ice cream business segment was
materially influenced by weather conditions and the weakening of the exchange
rate of Russian rubble against euro. The greatest contribution into the growth
came from the fish business segment, the turnover of which increased by 24.1%,
i.e. 4.1 million euro, by a year. 

Turnover by              Q1      Q1      Q2      Q2  6 months  6 months        6
 business segment      2014    2013    2014    2013      2014      2013   months
 (MEUR)                                                                    2014/
                                                                               6
                                                                          months
                                                                            2013
Ice cream               3.6     3.6    10.4    12.1      13.9      15.7   -11.3%
Frozen goods            6.1     5.9     6.7     6.0      12.8      11.9    +7.8%
Fish and fish          10.1     8.2    11.2     8.9      21.2      17.1   +24.1%
 products                                                                       
Other                   0.7     0.6     0.9     0.8       1.5       1.4   +13.6%
Total                  20.5    18.3    29.1    27.8      49.5      46.1    +7.5%

The turnover of the ice cream business segment decreased in the 2nd quarter
2014 by 14.7%; however, if the weakening of the exchange rate of Russian rubble
against euro is eliminated, the decrease of turnover during this period was
only 10.4%. If in the end of May and in June 2013, the weather conditions in
the all the target markets were warm, then the weather conditions of the 2nd
quarter this year, especially in June, have been rather cold, which in turn has
had adverse effect on the turnover of ice cream business segment. The decrease
in the turnover of the ice cream business segment was the most significant in
Lithuania; however, material part of the decrease in turnover in the Lithuanian
market came from the decrease of the turnover of private label products. The
turnover of the ice cream business segment increased in Finland and if
calculated in Russian rubbles also in Russia (by 2.3%). 

In the summary of 6 months, the ice cream business segment generates 28.1% of
the total turnover of Premia Foods. 

The turnover of the frozen goods business segment increased in the 2nd quarter
2014 year-on-year basis by 11.4%, i.e. 0.7 million euro. In the summary of 6
months of 2014, the growth of the business segment year-on-year basis was 7.8%,
i.e. 0.9 million euro. The greatest monetary contribution into the turnover
growth came from Latvia where the turnover increased by 0.7 million euro. The
proportion of the turnover of the frozen goods business segment in the total
turnover of Premia Foods of 6 months was 25.8%. 

The turnover of the fish and fish products business segment increased in the
2nd quarter 2014 compared to the 2nd quarter 2013 by 26.0%, i.e. by 2.3 million
euro. In the summary of 6 months the turnover of the fish business segment
increased in year-on-year comparison by 24.1%, i.e. 4.1 million euro. The
growth came mainly from the Finnish retail market and cold and hot smoked
product groups. The proportion of the turnover of the fish and fish products
business segment in the total turnover of Premia Foods of 6 months was 42.9%. 

Turnover by target      Q1      Q1      Q2      Q2  6 months  6 months  6 months
 markets (MEUR)       2014    2013    2014    2013      2014      2013     2014/
                                                                        6 months
                                                                            2013
Finland                8.9     6.8    10.0     8.0      18.8      14.8    +27.3%
Estonia                5.3     5.3     7.8     7.9      13.1      13.2     -0.5%
Latvia                 3.4     2.9     4.5     4.3       7.9       7.1    +10.1%
Lithuania              1.7     1.8     3.7     4.0       5.4       5.8     -6.5%
Russia                 1.1     1.4     3.0     3.5       4.2       4.9    -15.3%
Other                  0.0     0.0     0.1     0.2       0.1       0.2    -41.6%
Total                 20.5    18.3    29.1    27.8      49.5      46.1     +7.5%

In the summary of 6 months 2014, the turnover increased in the Finnish and
Latvian markets. The decrease of turnover in the Russian market was in a
material part caused by the weakening of the exchange rate of Russian rubble
against euro. Since the raw material for the ice cream production is purchased
by Premia in rubbles and the end products in the Russian market are sold also
for rubbles, the fluctuations of the exchange rate of rubble against euro have
no impact on the everyday business activities of the company and, if calculated
in rubbles, the results of the company were at the same level with the ones of
2013. The decrease of the turnover of the Estonian market, if compared to the
same periods of 2013, was caused by unfavourable weather conditions, which had
adverse effect on the sales of ice cream. The results of the Lithuanian market
were also influenced by bad weather conditions. In addition to that the
decrease of turnover came from the decreased turnover of the private label
products. The proportion of the Baltic states in the total turnover of 6 months
was 53.4%. 




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