Börsiteade
AS PRFoods
LEI kood
529900PFXFO2ZDCRNK93
Emitendi suuruskategooria
Keskmise suurusega kontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Poolaastaaruanne
Teate ID
5660
Manused
Esitamise kuupäev ja aeg
19.08.2016 17:00:00
Teate sisu eesti keeles
Pealkiri
PRF: AS-i PRFoods 2016. aasta 2. kvartali ja 6 kuu konsolideeritud auditeerimata vahearuanne
Teade
Tallinn, Eesti, 2016-08-19 16:00 CEST (GLOBE NEWSWIRE) --
Ülevaade majandustegevusest
Juhtkonna kommentaar
PRFoods 2016. aasta 2. kvartali ja 6 kuu tulemused vastavad juhtkonna
ootustele. Vaatamata toorkala hinnavolatiilsusele ei tee juhtkond 2016.
majandusaasta käibeprognoosi osas muudatusi. Kuigi 2016. aasta 2. kvartali
käive langes eelmise aasta sama perioodiga võrrelduna 14,7% ja 2016. aasta 6
kuud kokkuvõttes oli käibe langus 8,0%, on see kooskõlas eelarvega ning
ettevõtte kavaga väljuda madalama marginaalsusega tootegruppide valdkondadest,
loobumisega osadest Private Label toodetest. Tooraine hind tegi käesoleva aasta
esimesel poolel läbi drastilise tõusu – võrreldes aasta algusega tõusis lõhe
hind 23,1% ja vikerforelli hind 34,5%. Eelmise aasta sama perioodiga võrreldes
kallines kala turuhind vastavalt 62,8% ja 42,5%, mis mõjutas negatiivselt meie
toodangu marginaale ja sama ajal oli mõju kalakasvatuse tulemile positiivne.
Kui toorkala turuhind kasvab, siis suureneb ka Grupi kalakasvatustes
kasvatatavate kalade väärtus: kasum kalavarude ümberhindlusest oli 2016 6 kuud
perioodil 0,5 miljonit eurot, mis on 2015. aasta 6 kuud perioodiga
võrrelduna1,3 miljonit euro võrra parem, kui kahjum kalavarude ümberhindlusest
oli -0,8 miljonit eurot. 2016. aasta 2. kvartali kalavarude ümberhindluse kasum
oli 0,9 miljonit eurot võrrelduna eelmise aasta 2. kvartali 0,2 miljoni euro
suuruse kasumiga. Kuna ettevõte ostab märkimisväärse osa toorainest sisse, oli
ettevõtte brutokasum võrreldes eelmise aastaga oluliselt väiksem kuna hinnatõus
kandub lõpptoodetesse üle olulise nihkega. Kalatööstuses langenud
brutokasumlikkusega ei saa rahule jääda. Positiivseteks näitajateks esimesel
poolaastal 2016 olid ettevõtte äritegevuse rahavoo kasv ja ärikahjumi
paranemine, kokku 0,4 miljonit eurot ehk 70,0%. 6 kuud 2016 EBITDA oli 0,4
miljonit eurot, kasvades aasta baasil 0,5 miljonit eurot.
Murelikuks teeb jätkuv toorkala hinnavolatiilsus ning liiga aeglane hinnatõusu
kandumine lõpptoodetesse, mis avaldab olulist mõju ettevõtte kasumlikkusele.
Kalakasvatuse maht ja efektiivsus on küll tõusnud, kuid mitte sellises mahus,
et see korvaks sisseostetava toorkala hinnatõusu. Samas on teisel poolaastal
prognooside kohaselt oodata olulist toorkala hinnalangust, mis on osaliselt
tavapärane ning tingitud sesoonsusest ja teisalt on turul oodata olulist
suuremat värske kala pakkumise mahtu, kuna Norra suurtootjate kalakasvatusmahud
on kasvanud.
Oleme alustanud oma brändi uuendamist, esimesed uudistooted peaksid
poelettidele jõudma juba neljandas kvartalis, mis on traditsiooniliselt kõige
aktiivsem ja kasumlikum kvartal. Samuti on positiivne, et ettevõtte on suutnud
oma müüke geograafiliselt mitmekesistada ning laiendada väljapoole Soomet.
Toorkala kättesaadavuse paranemisel ootame ekspordimahtude suurenemist
Jaapanisse.
PRFoods on jätkuvalt tugevalt kapitaliseeritud ega kasuta võõrvahendeid.
Juhtkonna üks eesmärke on tõsta omakapitali tootlikkust ning võimalusel viia
ettevõtte oma- ja võõrkapitali suhe optimaalsemale tasemele.
2. kvartal 2016 võrrelduna 2016. aasta 2. kvartali tulemustega
-- Auditeerimata konsolideeritud käive 9,8 miljonit eurot, kahanemine -14,7%
ehk -1,7 miljonit eurot.
-- Brutomarginaal 6,3%, kahanemine -5,0 protsendipunkti.
-- Bioloogiliste varade ümberhindluse positiivne mõju 0,9 miljonit eurot (2015
aasta 2. kvartal positiivne mõju 0,2 miljonit eurot).
-- EBITDA äritegevusest -0,3 miljonit eurot, halvenemine -0,6 miljonit eurot.
-- EBITDA 0,7 miljonit eurot, kasv 0,1 miljonit eurot ehk 19,3%.
-- Ärikasum 0,3 miljonit eurot, kasv 0,1 miljonit eurot ehk 28,3%.
-- Puhaskasum 0,04 miljonit eurot, kahanemine -0,2 miljonit eurot ehk -85,5%.
6 kuud 2016 võrrelduna 2016. aasta 6 kuu tulemustega
-- Auditeerimata konsolideeritud käive 20,0 miljonit eurot, kahanemine -8,0%
ehk -1,7 miljonit eurot.
-- Brutomarginaal 8,0%, vähenemine -3,7 protsendipunkti.
-- Bioloogiliste varade ümberhindluse positiivne mõju 0,5 miljonit eurot (6
kuud 2015: negatiivne mõju -0,8 miljonit eurot).
-- EBITDA äritegevusest -0,03 miljonit eurot, halvenemine -0,8 miljonit eurot.
-- EBITDA 0,4 miljonit eurot, kasv 0,5 miljonit eurot.
-- Ärikahjum -0,2 miljonit eurot, paranemine 0,4 miljonit eurot ehk 70,0%.
-- Puhaskahjum -0,4 miljonit eurot, halvenemine -0,2 miljonit eurot ehk 69,5%.
VÕTMENÄITAJAD
--------------------------------------------------------------------------------
Kasumiaruanne, milj 1kv 2kv 6k 1kv 2kv 6k 12k
EUR 2016 2016 2016 2015 2015 2015 2015
--------------------------------------------------------------------------------
Müügitulu 10,2 9,8 20,0 10,3 11,4 21,7 50,3
--------------------------------------------------------------------------------
Brutokasum 1,0 0,6 1,6 1,3 1,3 2,5 6,8
--------------------------------------------------------------------------------
EBITDA äritegevusest 0,2 -0,3 -0,03 0,4 0,4 0,8 2,9
--------------------------------------------------------------------------------
EBITDA -0,2 0,7 0,4 -0,6 0,6 -0,1 2,0
--------------------------------------------------------------------------------
EBIT -0,5 0,3 -0,2 -0,9 0,3 -0,6 0,9
--------------------------------------------------------------------------------
EBT -0,6 0,2 -0,3 -0,8 0,3 -0,4 1,1
--------------------------------------------------------------------------------
Puhaskasum (-kahjum) -0,5 0,04 -0,4 -0,5 0,3 -0,2 1,2
--------------------------------------------------------------------------------
Brutorentaablus 9,5% 6,3% 8,0% 12,2% 11,3% 11,7% 13,5%
--------------------------------------------------------------------------------
Äritegevuse EBITDA 2,1% -2,6% -0,2% 4,1% 3,3% 3,7% 5,8%
marginaal
--------------------------------------------------------------------------------
EBITDA marginaal -2,2% 6,8% 2,2% -5,9% 4,8% -0,3% 4,0%
--------------------------------------------------------------------------------
EBIT marginaal -5,2% 3,6% -0,9% -8,6% 2,4% -2,8% 1,7%
--------------------------------------------------------------------------------
EBT marginaal -5,5% 2,3% -1,7% -7,4% 2,9% -2,0% 2,1%
--------------------------------------------------------------------------------
Puhasrentaablus -4,5% 0,4% -2,1% -5,2% 2,5% -1,1% 2,3%
--------------------------------------------------------------------------------
Tegevuskulude 10,5% 12,7% 11,6% 11,3% 11,3% 11,3% 10,8%
suhtarv
--------------------------------------------------------------------------------
VÕTMENÄITAJAD
-------------------------------------------------------------------------------
Bilanss, milj EUR 31.03.2016 30.06.2016 31.03.2015 30.06.2015 31.12.2015
-------------------------------------------------------------------------------
Netovõlgnevus -3,1 -1,4 -3,3 -6,5 -0,6
-------------------------------------------------------------------------------
Omakapital 22,7 22,7 33,1 33,3 23,2
-------------------------------------------------------------------------------
Käibekapital 11,0 11,2 21,6 21,7 11,4
-------------------------------------------------------------------------------
Varad 28,6 29,3 39,5 39,4 29,5
-------------------------------------------------------------------------------
Likviidsuskordaja 3,7 3,4 5,5 5,9 3,7
-------------------------------------------------------------------------------
Omakapitali suhtarv 79,4% 77,6% 83,9% 84,6% 78,8%
-------------------------------------------------------------------------------
Finantsvõimendus -15,7% -6,7% -11,0% -24,1% -2,5%
-------------------------------------------------------------------------------
Netovõlg/EBITDA -1,1 -0,7 -11,2 -8,2 -0,2
-------------------------------------------------------------------------------
Omakapitali tootlus 4,5% 3,6% -3,2% -3,9% 4,1%
-------------------------------------------------------------------------------
Varade tootlus 3,7% 2,9% -2,1% -2,6% 3,4%
-------------------------------------------------------------------------------
Konsolideeritud finantsseisundi aruanne
EUR '000 30.06.2016 30.06.2015 31.12.2015
----------------------------------------------------------------------
VARAD
----------------------------------------------------------------------
Raha ja ekvivalendid 2 632 7 321 1 921
----------------------------------------------------------------------
Nõuded ja ettemaksed 2 361 6 845 3 653
----------------------------------------------------------------------
Varud 5 125 7 027 5 616
----------------------------------------------------------------------
Bioloogilised varad 5 786 4 850 4 421
----------------------------------------------------------------------
Käibevara kokku 15 904 26 043 15 611
----------------------------------------------------------------------
----------------------------------------------------------------------
Edasilükkunud tulumaksuvara 136 103 138
----------------------------------------------------------------------
Pikaajalised finantsinvesteeringud 106 160 161
----------------------------------------------------------------------
Materiaalne põhivara 7 065 6 942 7 427
----------------------------------------------------------------------
Immateriaalne vara 6 080 6 185 6 128
----------------------------------------------------------------------
Põhivara kokku 13 387 13 390 13 854
----------------------------------------------------------------------
VARAD KOKKU 29 291 39 433 29 465
----------------------------------------------------------------------
----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
----------------------------------------------------------------------
Võlakohustused 286 206 286
----------------------------------------------------------------------
Võlad ja ettemaksed 4 211 3 997 3 760
----------------------------------------------------------------------
Sihtfinantseerimine 162 182 177
----------------------------------------------------------------------
Lühiajalised kohustused kokku 4 659 4 385 4 223
----------------------------------------------------------------------
----------------------------------------------------------------------
Võlakohustused 925 648 1 063
----------------------------------------------------------------------
Edasilükkunud tulumaksukohustus 337 265 252
----------------------------------------------------------------------
Sihtfinantseerimine 635 786 706
----------------------------------------------------------------------
Pikaajalised kohustused kokku 1 897 1 699 2 021
----------------------------------------------------------------------
KOHUSTUSED KOKKU 6 556 6 084 6 244
----------------------------------------------------------------------
----------------------------------------------------------------------
Aktsiakapital 7 737 19 342 7 737
----------------------------------------------------------------------
Ülekurss 14 007 16 026 16 026
----------------------------------------------------------------------
Oma aktsiad -206 -216 -172
----------------------------------------------------------------------
Kohustuslik reservkapital 12 6 6
----------------------------------------------------------------------
Realiseerimata kursivahed 441 466 471
----------------------------------------------------------------------
Jaotamata kasum (-kahjum) 744 -2 275 -847
----------------------------------------------------------------------
OMAKAPITAL KOKKU 22 735 33 349 23 221
----------------------------------------------------------------------
OMAKAPITAL JA KOHUSTUSED KOKKU 29 291 39 433 29 465
----------------------------------------------------------------------
Konsolideeritud koondkasumiaruanne
EUR '000 2kv 2kv 6k 2016 6k 2015 12k
2016 2015 2015
--------------------------------------------------------------------------------
Müügitulud 9 761 11 438 19 996 21 737 50 273
--------------------------------------------------------------------------------
Müüdud kaupade kulu -9 146 -10 150 -18 404 -19 194 -43 509
--------------------------------------------------------------------------------
Brutokasum 615 1 288 1 592 2 543 6 764
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Tegevuskulud -1 235 -1 291 -2 313 -2 459 -5 411
--------------------------------------------------------------------------------
Turundus- ja müügikulud -789 -954 -1 555 -1 792 -4 033
--------------------------------------------------------------------------------
Üldhalduskulud -446 -337 -758 -667 -1 378
--------------------------------------------------------------------------------
Muud äritulud/-kulud 59 96 71 151 406
--------------------------------------------------------------------------------
Bioloogiliste varade ümberhindlus 910 179 466 -849 -888
--------------------------------------------------------------------------------
Ärikasum (-kahjum) 349 272 -184 -614 871
--------------------------------------------------------------------------------
Finantstulud 1 81 1 229 303
--------------------------------------------------------------------------------
Finantskulud -123 -27 -155 -56 -105
--------------------------------------------------------------------------------
Maksustamiseelne kasum (-kahjum) 227 326 -338 -441 1 069
--------------------------------------------------------------------------------
Tulumaks -185 -36 -84 192 110
--------------------------------------------------------------------------------
Aruandeperioodi puhaskasum (-kahjum) 42 290 -422 -249 1 179
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum (-kahjum), mida võib
hiljem klassifitseerida
kasumiaruandesse
--------------------------------------------------------------------------------
Valuutakursi vahed -24 8 -30 25 30
--------------------------------------------------------------------------------
Kokku koondkasum (-kahjum) 18 298 -452 -224 1 209
--------------------------------------------------------------------------------
Indrek Kasela
AS PRFoods
Juhatuse liige
T: +372 6033 800
[email protected]
www.prfoods.ee
Teate sisu inglise keeles
Pealkiri
PRF: Consolidated Unaudited Interim Report of AS PRFoods for 2nd quarter and 6 months of 2016
Teade
Tallinn, Estonia, 2016-08-19 16:00 CEST (GLOBE NEWSWIRE) --
Overview of the economic activities
Management commentary
PRFoods’ 2nd quarter and 6 months of 2016 results are in line with management
expectations. The management is keeping its sales forecast for 2016 despite
very volatile raw material prices. Although the 2nd quarter of 2016 revenue
decreased by 14.7% and the 6 months of 2016 revenue by 8.0% in total compared
to the same period in previous year, it is in accordance with our budget and
company’s goal to exit lower margin products and certain Private Label
products. Fish prices witnessed a very drastic increase in the first half of
this year – compared to the beginning of the year, the price of salmon
increased by 23.1% and the price of rainbow trout by 34.5%. Year-on-year, the
price increase has been accordingly 62.8% and 42.5%. This affects negatively
our margins in production and positively the performance of our fish farming
operations. When the market price of raw fish increases, so does the value of
fish harvested in fish farms of Group: the profit from the revaluation of fish
livestock of 6 months of 2016 was 0.5 million euro which is by 1.3 million euro
higher than the results of 6 months of 2015, while loss from the revaluation of
fish livestock was -0.8 million euros. The 2nd quarter of 2016 result was 0.9
million euros in profit compared to the 0.2 million euros in profit a year ago.
Considering that company still source the majority of raw material from third
parties, the gross margin of the business was in decline, as the increase in
the price of goods in retail happens with a significant delay. On a positive
note, company’s cash flow from operations has improved and operating loss
improved by 0.4 million euros, i.e. 70.0% in the first half of this year. The
EBITDA for 6 months of 2016 was 0.4 million euros – an improvement of 0.5
million euros year-on-year.
A cause for concern is the continuing volatility of fish prices and the slow
increase in processed goods in retail, which significantly influences our
profitability. We are not satisfied with the decrease of gross marginality in
our production. Our fish farming operations have improved in volume and
efficiency, but not to the level that would compensate the increase in the
price of sourced fish. At the same time, the forecast for the second half of
2016 shows a significant drop in fish prices: this is partly seasonal and
secondly, there are signs that Norway, as a major supplier, will significantly
increase the offered volume, as their farming volumes have increased.
We have launched the refreshing of our brand and the first new branded products
will hit the shelves in 4th quarter, traditionally the busiest and most
profitable season. Another positive note is that we have been able to diversify
our sales more geographically and increase our sales outside of Finland. With a
larger supply of fish, we could substantially increase our export to Japan.
PRFoods continues to be very strongly capitalised and has not taken any bank
loans. The objective of the management is to improve return on equity, as well
as optimize the debt-equity ratio of the company.
The 2nd quarter of 2016 compared to the 2nd quarter of 2015
-- Unaudited consolidated revenue 9.8 million euros, decrease -1.7 million
euros, i.e. -14.7%.
-- Gross margin 6.3%, decrease -5.0 percentage points.
-- Positive impact from revaluation of biological assets 0.9 million euros
(2nd quarter 2015: positive impact of
0.2 million euros).
-- EBITDA from operations -0.3 million euros, decrease -0.6 million euros.
-- EBITDA 0.7 million euros, improvement 0.1 million euros, i.e. 19.3%.
-- The operating profit 0.3 million euros, improvement 0.1 million euros, i.e.
28.3%.
-- Net profit 0.04 million euros, decrease -0.2 million euros, i.e. -85.5%.
6 months of 2016 compared to 6 months of 2015
-- Unaudited consolidated revenue 20.0 million euros, decrease -1.7 million
euros, i.e. -8.0%.
-- Gross margin 8.0%, decrease -3.7 percentage points.
-- Positive impact from revaluation of biological assets 0.5 million euros (6
months 2015: negative impact of
-0.8 million euros).
-- EBITDA from operations -0.03 million euros, decrease -0.8 million euros.
-- EBITDA 0.4 million euros, improvement 0.5 million euros.
-- The operating loss -0.2 million euros, improvement 0.4 million euros, i.e.
70.0%.
-- Net loss -0.4 million euros, decrease -0.2 million euros, i.e. 69.5%.
KEY RATIOS
--------------------------------------------------------------------------------
Income Statement, Q1 2016 Q2 2016 6m 2016 Q1 2015 Q2 6m 2015 12m
EUR mln 2015 2015
--------------------------------------------------------------------------------
Sales 10.2 9.8 20.0 10.3 11.4 21.7 50.3
--------------------------------------------------------------------------------
Gross profit 1.0 0.6 1.6 1.3 1.3 2.5 6.8
--------------------------------------------------------------------------------
EBITDA from 0.2 -0.3 -0.03 0.4 0.4 0.8 2.9
operations
--------------------------------------------------------------------------------
EBITDA -0.2 0.7 0.4 -0.6 0.6 -0.1 2.0
--------------------------------------------------------------------------------
EBIT -0.5 0.3 -0.2 -0.9 0.3 -0.6 0.9
--------------------------------------------------------------------------------
EBT -0.6 0.2 -0.3 -0.8 0.3 -0.4 1.1
--------------------------------------------------------------------------------
Net profit (-loss) -0.5 0.04 -0.4 -0.5 0.3 -0.2 1.2
--------------------------------------------------------------------------------
Gross margin 9.5% 6.3% 8.0% 12.2% 11.3% 11.7% 13.5%
--------------------------------------------------------------------------------
Operational EBITDA 2.1% -2.6% -0.2% 4.1% 3.3% 3.7% 5.8%
margin
--------------------------------------------------------------------------------
EBITDA margin -2.2% 6.8% 2.2% -5.9% 4.8% -0.3% 4.0%
--------------------------------------------------------------------------------
EBIT margin -5.2% 3.6% -0.9% -8.6% 2.4% -2.8% 1.7%
--------------------------------------------------------------------------------
EBT margin -5.5% 2.3% -1.7% -7.4% 2.9% -2.0% 2.1%
--------------------------------------------------------------------------------
Net margin -4.5% 0.4% -2.1% -5.2% 2.5% -1.1% 2.3%
--------------------------------------------------------------------------------
Operating expense 10.5% 12.7% 11.6% 11.3% 11.3% 11.3% 10.8%
ratio
--------------------------------------------------------------------------------
KEY RATIOS
--------------------------------------------------------------------------------
Balance Sheet, EUR 31.03.2016 30.06.2016 31.03.2015 30.06.2015 31.12.2015
mln
--------------------------------------------------------------------------------
Net debt -3.1 -1.4 -3.3 -6.5 -0.6
--------------------------------------------------------------------------------
Equity 22.7 22.7 33.1 33.3 23.2
--------------------------------------------------------------------------------
Working capital 11.0 11.2 21.6 21.7 11.4
--------------------------------------------------------------------------------
Assets 28.6 29.3 39.5 39.4 29.5
--------------------------------------------------------------------------------
Liquidity ratio 3.7 3.4 5.5 5.9 3.7
--------------------------------------------------------------------------------
Equity ratio 79.4% 77.6% 83.9% 84.6% 78.8%
--------------------------------------------------------------------------------
Gearing ratio -15.7% -6.7% -11.0% -24.1% -2.5%
--------------------------------------------------------------------------------
Net debt-to-EBITDA -1.1 -0.7 -11.2 -8.2 -0.2
--------------------------------------------------------------------------------
ROE 4.5% 3.6% -3.2% -3.9% 4.1%
--------------------------------------------------------------------------------
ROA 3.7% 2.9% -2.1% -2.6% 3.4%
--------------------------------------------------------------------------------
Consolidated statement of financial position
EUR '000 30.06.2016 30.06.2015 31.12.2015
-------------------------------------------------------------------
ASSETS
-------------------------------------------------------------------
Cash and cash equivalents 2,632 7,321 1,921
-------------------------------------------------------------------
Receivables and prepayments 2,361 6,845 3,653
-------------------------------------------------------------------
Inventories 5,125 7,027 5,616
-------------------------------------------------------------------
Biological assets 5,786 4,850 4,421
-------------------------------------------------------------------
Total current assets 15,904 26,043 15,611
-------------------------------------------------------------------
-------------------------------------------------------------------
Deferred income tax 136 103 138
-------------------------------------------------------------------
Long-term financial investments 106 160 161
-------------------------------------------------------------------
Tangible fixed assets 7,065 6,942 7,427
-------------------------------------------------------------------
Intangible assets 6,080 6,185 6,128
-------------------------------------------------------------------
Total non-current assets 13,387 13,390 13,854
-------------------------------------------------------------------
TOTAL ASSETS 29,291 39,433 29,465
-------------------------------------------------------------------
-------------------------------------------------------------------
EQUITY AND LIABILITIES
-------------------------------------------------------------------
Loans and borrowings 286 206 286
-------------------------------------------------------------------
Payables 4,211 3,997 3,760
-------------------------------------------------------------------
Government grants 162 182 177
-------------------------------------------------------------------
Total current liabilities 4,659 4,385 4,223
-------------------------------------------------------------------
-------------------------------------------------------------------
Loans and borrowings 925 648 1,063
-------------------------------------------------------------------
Deferred tax liabilities 337 265 252
-------------------------------------------------------------------
Government grants 635 786 706
-------------------------------------------------------------------
Total non-current liabilities 1,897 1,699 2,021
-------------------------------------------------------------------
TOTAL LIABILITIES 6,556 6,084 6,244
-------------------------------------------------------------------
-------------------------------------------------------------------
Share capital 7,737 19,342 7,737
-------------------------------------------------------------------
Share premium 14,007 16,026 16,026
-------------------------------------------------------------------
Treasury shares -206 -216 -172
-------------------------------------------------------------------
Statutory capital reserve 12 6 6
-------------------------------------------------------------------
Currency translation reserve 441 466 471
-------------------------------------------------------------------
Retained profit (-loss) 744 -2,275 -847
-------------------------------------------------------------------
TOTAL EQUITY 22,735 33,349 23,221
-------------------------------------------------------------------
TOTAL EQUITY AND LIABILITIES 29,291 39,433 29,465
-------------------------------------------------------------------
Consolidated statement of profit or loss and other comprehensive income
EUR '000 Q2 Q2 2015 6m 2016 6m 2015 12m
2016 2015
--------------------------------------------------------------------------------
Sales 9,761 11,438 19,996 21,737 50,273
--------------------------------------------------------------------------------
Cost of goods sold -9,146 -10,150 -18,404 -19,194 -43,509
--------------------------------------------------------------------------------
Gross profit 615 1,288 1,592 2,543 6,764
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Operating expenses -1,235 -1,291 -2,313 -2,459 -5,411
--------------------------------------------------------------------------------
Selling and distribution expenses -789 -954 -1,555 -1,792 -4,033
--------------------------------------------------------------------------------
Administrative expenses -446 -337 -758 -667 -1,378
--------------------------------------------------------------------------------
Other income/expenses 59 96 71 151 406
--------------------------------------------------------------------------------
Fair value adjustment on biological 910 179 466 -849 -888
assets
--------------------------------------------------------------------------------
Operating profit (-loss) 349 272 -184 -614 871
--------------------------------------------------------------------------------
Financial income 1 81 1 229 303
--------------------------------------------------------------------------------
Financial expenses -123 -27 -155 -56 -105
--------------------------------------------------------------------------------
Profit (-loss) before tax 227 326 -338 -441 1,069
--------------------------------------------------------------------------------
Income tax -185 -36 -84 192 110
--------------------------------------------------------------------------------
Net profit (-loss) for the period 42 290 -422 -249 1,179
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income (-loss)
that may subsequently be classified
to profit or loss:
--------------------------------------------------------------------------------
Foreign currency translation -24 8 -30 25 30
differences
--------------------------------------------------------------------------------
Total comprehensive income 18 298 -452 -224 1,209
(-expense)
--------------------------------------------------------------------------------
Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 6033 800
[email protected]
www.prfoods.ee