Börsiteade
AS PRFoods
LEI kood
529900PFXFO2ZDCRNK93
Emitendi suuruskategooria
Keskmise suurusega kontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
6132
Manused
Esitamise kuupäev ja aeg
30.05.2017 16:30:00
Teate sisu eesti keeles
Pealkiri
PRF: AS-i PRFoods 2017. aasta 1. kvartali ja 3 kuu konsolideeritud auditeerimata vahearuanne
Teade
Tallinn, Eesti, 2017-05-30 15:30 CEST (GLOBE NEWSWIRE) --
Ülevaade majandustegevusest
JUHTKONNA KOMMENTAAR
PRFoodsi tulemus 2017. aasta 1. kvartalis oli vastuoluline. Grupi käive kasvas
0,3 miljoni euro ehk 3,2% võrra jõudes tasemeni 10,6 miljonit eurot ja
puhaskahjum oli -0.84 miljonit eurot (1. kvartal 2016: -0,46 miljonit eurot).
Kahjuks oli kasumlikkus endiselt mõjutatud ebatavaliselt kõrgetest kala
hindadest. See mõjutas peamiselt meie EBITDAd äritegevusest, mis langes -0,3
miljoni euroni (langus 0,5 miljonit eurot). Selle kompenseeris mõnevõrra
oodatust parem biomassi ümberhindlus kalakasvatuses, mis kasvas võrreldes
eelmise aasta 1. kvartaliga 39% . Biomassi ümberhindlus tekitas 1. kvartalis
talveperioodile traditsioonilise negatiivse EBITDA, kuna talvekuudel biomassi
juurdekasvu ei toimu. 1. kvartalis vähenes biomass tootmisesse mineva toorkala
arvelt (rahaline vähenemine võrreldes 31.12.2016 seisuga oli -1,0 miljonit
eurot).
Kuigi müügitulu Soomes ei ole olnud rahuldav, on ootus kogu aasta ennustusele
positiivne. Üldine ootus on, et toorkala hinnad normaliseeruvad 2. poolaasta
jooksul. Meie biomassi maht on suurem, mis võimaldab meil kasutada rohkem oma
kala. Kõige olulisem on, et oleme suutnud läbi suruda suurema osa
hinnatõusudest veebruaris ja mais. Me ootame järgmist hindade tõstmist juunis.
Pärast neid muutuseid oleme tõstnud hindu Soome turul kõigis tootegruppides
ligikaudu 20-50%. Kasumlikkus Soomes on endiselt jälgimise all ning me oleme
tegemas järgmisi samme, et puhastada portfell madalama marginaalsusega
toodetest.
Meie bilanss on endiselt tugev ning PRFoods likviidsus on väga hea. Meie
netovõlg on tasemel 1,6 miljonit eurot. Netovõla suurenemise taga on varude
suurenemine kvartali lõpuks nii rahalises kui koguselises väärtuses, kuna oleme
varunud rohkem kala kevadiseks tootmisperioodiks. Ka müügid saavutavad tipu
lihavõtete ajal, peale 1. kvartali lõppu, mis mõjutab varude taset. Ka
bioloogiliste varade maht on suurem kui varasematel perioodidel, mahuliselt 576
ehk 103% kõrgemal tasemel.
Kala tooraine hinnad olid 1. kvartalis ajalooliste hindadega võrreldes kõrgel
tasemel, mis mõjutab nii nõudlust kui kasumilikust. Erakordselt oli
vikerforelli tooraine hind kõrgem kui lõhel ning arvestades, et vikerforell on
meie põhiline tooraine, oli 1. kvartal selle võrra keerulisem. Eeldada on, et
teises poolaastas toimub tooraine hindade langus, mis on hea uudis nii meile
kui tootjale kui ka klientidele.
PRFoods on jõudnud brändi uuendustega lõpusirgele ning uue brändi kontseptsioon
käivitub sel suvel.
PRFoods avaldab 2017. aasta prognoosi koos 2. kvartali tulemustega.
1. kvartal 2017 võrreldes 2016. aasta 1. kvartali tulemusega
-- Auditeerimata konsolideeritud käive 10,6 miljonit eurot, kasv +0,3 miljonit
eurot.
-- Brutomarginaal 5,0%, kahanemine -4,6 protsendipunkti.
-- Bioloogiliste varade ümberhindluse negatiivne mõju -0,3 miljonit eurot,
paranemine +0,2 miljonit eurot.
-- Bioloogiliste varade maht 1 135 tonni ja rahaliselt 6,5 miljonit eurot,
kasv vastavalt 576 tonni ja 4,1 miljonit eurot.
-- EBITDA äritegevusest -0,3 miljonit eurot, kahanemine -0,5 miljonit eurot.
-- EBITDA -0,6 miljonit eurot, kahanemine -0,3 miljonit eurot.
-- Ärikahjum -0,9 miljonit eurot, kasv -0,3 miljonit eurot.
-- Puhaskahjum -0,8 miljonit eurot, kasv -0,4 miljonit eurot.
VÕTMENÄITAJAD
Kasumiaruanne, milj EUR 1kv 2017 1kv 2016 12k 2016
----------------------------------------------------------
Müügitulu 10,6 10,2 47,4
----------------------------------------------------------
Brutokasum 0,5 1,0 4,0
----------------------------------------------------------
EBITDA äritegevusest -0,3 0,2 0,8
----------------------------------------------------------
EBITDA -0,6 -0,2 2,6
----------------------------------------------------------
EBIT -0,9 -0,5 1,4
----------------------------------------------------------
EBT -0,9 -0,6 1,1
----------------------------------------------------------
Puhaskasum (-kahjum) -0,84 -0,46 0,72
----------------------------------------------------------
Brutorentaablus 5,0% 9,5% 8,5%
----------------------------------------------------------
Äritegevuse EBITDA marginaal -2,7% 2,1% 1,6%
----------------------------------------------------------
EBITDA marginaal -5,3% -2,2% 5,5%
----------------------------------------------------------
EBIT marginaal -8,3% -5,2% 2,9%
----------------------------------------------------------
EBT marginaal -8,5% -5,5% 2,4%
----------------------------------------------------------
Puhasrentaablus -7,9% -4,5% 1,5%
----------------------------------------------------------
Tegevuskulude suhtarv 11,2% 10,5% 10,1%
----------------------------------------------------------
VÕTMENÄITAJAD
Bilanss, milj EUR 31.03.2017 31.03.2016 31.12.2016
-------------------------------------------------------
Netovõlgnevus 1,6 -3,1 0,3
-------------------------------------------------------
Omakapital 22,8 22,7 23,8
-------------------------------------------------------
Käibekapital 11,5 11,0 12,4
-------------------------------------------------------
Varad 33,3 28,6 35,1
-------------------------------------------------------
Likviidsuskordaja 2,4 3,7 2,4
-------------------------------------------------------
Omakapitali suhtarv 68,5% 79,4% 67,9%
-------------------------------------------------------
Finantsvõimendus 6,4% -15,7% 1,2%
-------------------------------------------------------
Netovõlg/EBITDA 6,4 -1,1 0,4
-------------------------------------------------------
Omakapitali tootlus 1,5% 4,5% 3,0%
-------------------------------------------------------
Varade tootlus 1,1% 3,7% 2,2%
-------------------------------------------------------
Konsolideeritud finantsseisundi aruanne
EUR '000 31.03.2017 31.03.2016 31.12.2016
-----------------------------------------------------------------------
VARAD
-----------------------------------------------------------------------
Raha ja ekvivalendid 3 570 4 378 4 374
-----------------------------------------------------------------------
Nõuded ja ettemaksed 2 557 2 463 4 056
-----------------------------------------------------------------------
Varud 7 225 5 754 5 393
-----------------------------------------------------------------------
Bioloogilised varad 6 543 2 451 7 584
-----------------------------------------------------------------------
Käibevara kokku 19 895 15 046 21 407
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Edasilükkunud tulumaksuvara 228 138 230
-----------------------------------------------------------------------
Pikaajalised finantsinvesteeringud 102 161 103
-----------------------------------------------------------------------
Materiaalne põhivara 7 112 7 178 7 285
-----------------------------------------------------------------------
Immateriaalne vara 6 007 6 109 6 031
-----------------------------------------------------------------------
Põhivara kokku 13 449 13 586 13 649
-----------------------------------------------------------------------
VARAD KOKKU 33 344 28 632 35 056
-----------------------------------------------------------------------
-----------------------------------------------------------------------
KOHUSTUSED JA OMAKAPITAL
-----------------------------------------------------------------------
Võlakohustused 4 271 287 3 716
-----------------------------------------------------------------------
Võlad ja ettemaksed 3 950 3 617 5 131
-----------------------------------------------------------------------
Sihtfinantseerimine 176 164 162
-----------------------------------------------------------------------
Lühiajalised kohustused kokku 8 397 4 068 9 009
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Võlakohustused 862 1 002 940
-----------------------------------------------------------------------
Edasilükkunud tulumaksukohustus 685 152 747
-----------------------------------------------------------------------
Sihtfinantseerimine 564 677 551
-----------------------------------------------------------------------
Pikaajalised kohustused kokku 2 111 1 831 2 238
-----------------------------------------------------------------------
KOHUSTUSED KOKKU 10 508 5 899 11 247
-----------------------------------------------------------------------
-----------------------------------------------------------------------
Aktsiakapital 7 737 7 737 7 737
-----------------------------------------------------------------------
Ülekurss 14 007 16 026 14 007
-----------------------------------------------------------------------
Oma aktsiad -390 -190 -256
-----------------------------------------------------------------------
Kohustuslik reservkapital 12 6 12
-----------------------------------------------------------------------
Realiseerimata kursivahed 428 465 428
-----------------------------------------------------------------------
Jaotamata kasum (-kahjum) 1 042 -1 311 1 881
-----------------------------------------------------------------------
Ettevõtte aktsionäridele kuuluv osa 22 836 22 733 23 809
-----------------------------------------------------------------------
OMAKAPITAL KOKKU 22 836 22 733 23 809
-----------------------------------------------------------------------
OMAKAPITAL JA KOHUSTUSED KOKKU 33 344 28 632 35 056
-----------------------------------------------------------------------
Konsolideeritud koondkasumiaruanne
EUR '000 1kv 1kv 12k
2017 2016 2016
--------------------------------------------------------------------------------
Müügitulud 10 562 10 235 47 429
--------------------------------------------------------------------------------
Müüdud kaupade kulu -10 036 -9 258 -43 410
--------------------------------------------------------------------------------
Brutokasum 526 977 4 019
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Tegevuskulud -1 179 -1 078 -4 785
--------------------------------------------------------------------------------
Turundus- ja müügikulud -837 -766 -3 346
--------------------------------------------------------------------------------
Üldhalduskulud -342 -312 -1 439
--------------------------------------------------------------------------------
Muud äritulud/-kulud 50 12 -118
--------------------------------------------------------------------------------
Bioloogiliste varade ümberhindlus -270 -444 2 263
--------------------------------------------------------------------------------
Ärikasum (-kahjum) -873 -533 1 379
--------------------------------------------------------------------------------
Finantstulud 6 0 2
--------------------------------------------------------------------------------
Finantskulud -34 -32 -240
--------------------------------------------------------------------------------
Maksustamiseelne kasum (-kahjum) -901 -565 1 141
--------------------------------------------------------------------------------
Tulumaks 62 101 -426
--------------------------------------------------------------------------------
Aruandeperioodi puhaskasum (-kahjum) -839 -464 715
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum (-kahjum), mida võib hiljem
klassifitseerida kasumiaruandesse:
--------------------------------------------------------------------------------
Valuutakursi vahed 0 -6 -43
--------------------------------------------------------------------------------
Kokku koondkasum (-kahjum) -839 -470 672
--------------------------------------------------------------------------------
Indrek Kasela
AS PRFoods
Juhatuse liige
T: +372 452 1470
[email protected]
www.prfoods.ee
Teate sisu inglise keeles
Pealkiri
PRF: Consolidated Unaudited Interim Report of AS PRFoods for 1st quarter and 3 months of 2017
Teade
Tallinn, Estonia, 2017-05-30 15:30 CEST (GLOBE NEWSWIRE) --
Overview of the economic activities
MANAGEMENT COMMENTARY
PRFoods had mixed results from Q1. Group revenues grew to 10.6 million euros,
by 0.3 million euros i.e. 3.2% and net loss was -0.84 million euros (Q1 2016:
-0.46 million euros). Unfortunately, profitability was affected by still
abnormally high fish prices. It mostly affected our operational EBITDA which
came to -0.3 million euros (decrease by 0.5 million euros). This was somewhat
offset better than expected results from fish farming, which improved by 39% in
euros on year-on-year. Biomass revaluation traditionally produces negative
EBITDA in Q1 as this is the winter period. The value of biomass was reduced by
harvested raw fish (monetary change compared to 31.12.2016 was -1.0 million
euros).
Although sales results in Finland were not satisfactory, we remain optimistic
about the forecast for the year. Overall consensus is that raw material prices
will normalize during 2nd half of the year. Our biomass is higher, allowing us
to utilize more of our own fish. Most importantly in most products price
increases have been pushed through in February and May. We anticipate next
price increases to take place in June. After that we have increased our prices
in Finland by all product groups ca 20-50%. On positive note, we managed to
increase substantially own product sales in Finland, and in various product
groups they amount to 55-65%, compared to ca 20% year ago. Profitability
remains an issue in Finland and we are taking further steps to pass on price
increases to customers and cutting unprofitable products.
Our balance sheet remains strong and PRFoods has high degree of liquidity. Our
net debt is at 1.6 million euros. The increase in net debt is due to increase
in inventory at the end of the quarter both in terms of value and volume as we
purchased more fish for spring production. Also, the sales peak of Easter
happened after the end of Q1, which inflates the inventory. Also, the amount
of biological assets is higher than usual in this period by 576 tonnes, i.e.
103%.
The prices of raw fish have been very high in Q1 compared to historical prices
of raw material, affecting both demand and profitability. Extraordinarily, the
price of rainbow trout has been higher than salmon and considering that rainbow
trout is our main raw material, the Q1 was more difficult for us. We can
anticipate that in 2nd half of the year, the prices of raw material will start
to drop, this is good news for us as a producer as well to our customers.
PRFoods has finished preparations for brand renewal and will launch new brand
concept this summer.
PRFoods will announce its 2017 forecast together with Q2 results.
The 1st quarter of 2017 compared to the 1st quarter of 2016
-- Unaudited consolidated revenue 10.6 million euros, increase +0.3 million
euros.
-- Gross margin 5.0%, decrease -4.6 percentage points.
-- Negative impact from revaluation of biological assets -0.3 million euros,
improvement +0.2 million euros.
-- Volume of biological assets was 1 135 tonnes and in monetary value 6.5
million euros, increase accordingly 576 tonnes and 4.1 million euros.
-- EBITDA from operations -0.3 million euros, decrease -0.5 million euros.
-- EBITDA -0.6 million euros, decrease -0.3 million euros.
-- The operating loss -0.9 million euros, increase -0.3 million euros.
-- Net loss -0.8 million euros, increase -0.4 million euros.
KEY RATIOS
Profit & Loss, EUR mln Q1 2017 Q1 2016 12m 2016
------------------------------------------------------
Sales 10.6 10.2 47.4
------------------------------------------------------
Gross profit 0.5 1.0 4.0
------------------------------------------------------
EBITDA from operations -0.3 0.2 0.8
------------------------------------------------------
EBITDA -0.6 -0.2 2.6
------------------------------------------------------
EBIT -0.9 -0.5 1.4
------------------------------------------------------
EBT -0.9 -0.6 1.1
------------------------------------------------------
Net profit (-loss) -0.84 -0.46 0.72
------------------------------------------------------
Gross margin 5.0% 9.5% 8.5%
------------------------------------------------------
Operational EBITDA margin -2.7% 2.1% 1.6%
------------------------------------------------------
EBITDA margin -5.3% -2.2% 5.5%
------------------------------------------------------
EBIT margin -8.3% -5.2% 2.9%
------------------------------------------------------
EBT margin -8.5% -5.5% 2.4%
------------------------------------------------------
Net margin -7.9% -4.5% 1.5%
------------------------------------------------------
Operating expense ratio 11.2% 10.5% 10.1%
------------------------------------------------------
KEY RATIOS
Balance Sheet, EUR mln 31.03.2017 31.03.2016 31.12.2016
----------------------------------------------------------
Net debt 1.6 -3.1 0.3
----------------------------------------------------------
Equity 22.8 22.7 23.8
----------------------------------------------------------
Working capital 11.5 11.0 12.4
----------------------------------------------------------
Assets 33.3 28.6 35.1
----------------------------------------------------------
Liquidity ratio 2.4 3.7 2.4
----------------------------------------------------------
Equity ratio 68.5% 79.4% 67.9%
----------------------------------------------------------
Gearing ratio 6.4% -15.7% 1.2%
----------------------------------------------------------
Net debt-to-EBITDA 6.4 -1.1 0.4
----------------------------------------------------------
ROE 1.5% 4.5% 3.0%
----------------------------------------------------------
ROA 1.1% 3.7% 2.2%
----------------------------------------------------------
Consolidated statement of financial position
EUR '000 31.03.2017 31.03.2016 31.12.2016
-------------------------------------------------------------------
ASSETS
-------------------------------------------------------------------
Cash and cash equivalents 3,570 4,378 4,374
-------------------------------------------------------------------
Receivables and prepayments 2,557 2,463 4,056
-------------------------------------------------------------------
Inventories 7,225 5,754 5,393
-------------------------------------------------------------------
Biological assets 6,543 2,451 7,584
-------------------------------------------------------------------
Total current assets 19,895 15,046 21,407
-------------------------------------------------------------------
-------------------------------------------------------------------
Deferred income tax 228 138 230
-------------------------------------------------------------------
Long-term financial investments 102 161 103
-------------------------------------------------------------------
Tangible fixed assets 7,112 7,178 7,285
-------------------------------------------------------------------
Intangible assets 6,007 6,109 6,031
-------------------------------------------------------------------
Total non-current assets 13,449 13,586 13,649
-------------------------------------------------------------------
TOTAL ASSETS 33,344 28,632 35,056
-------------------------------------------------------------------
-------------------------------------------------------------------
EQUITY AND LIABILITIES
-------------------------------------------------------------------
Loans and borrowings 4,271 287 3,716
-------------------------------------------------------------------
Payables 3,950 3,617 5,131
-------------------------------------------------------------------
Government grants 176 164 162
-------------------------------------------------------------------
Total current liabilities 8,397 4,068 9,009
-------------------------------------------------------------------
-------------------------------------------------------------------
Loans and borrowings 862 1,002 940
-------------------------------------------------------------------
Deferred tax liabilities 685 152 747
-------------------------------------------------------------------
Government grants 564 677 551
-------------------------------------------------------------------
Total non-current liabilities 2,111 1,831 2,238
-------------------------------------------------------------------
TOTAL LIABILITIES 10,508 5,899 11,247
-------------------------------------------------------------------
-------------------------------------------------------------------
Share capital 7,737 7,737 7,737
-------------------------------------------------------------------
Share premium 14,007 16,026 14,007
-------------------------------------------------------------------
Treasury shares -390 -190 -256
-------------------------------------------------------------------
Statutory capital reserve 12 6 12
-------------------------------------------------------------------
Currency translation reserve 428 465 428
-------------------------------------------------------------------
Retained profit (-loss) 1,042 -1,311 1,881
-------------------------------------------------------------------
Equity attributable to parent 22,836 22,733 23,809
-------------------------------------------------------------------
TOTAL EQUITY 22,836 22,733 23,809
-------------------------------------------------------------------
TOTAL EQUITY AND LIABILITIES 33,344 28,632 35,056
-------------------------------------------------------------------
Consolidated statement of profit or loss and other comprehensive income
EUR '000 Q1 2017 Q1 12m
2016 2016
--------------------------------------------------------------------------------
Sales 10,562 10,235 47,429
--------------------------------------------------------------------------------
Cost of goods sold -10,036 -9,258 -43,410
--------------------------------------------------------------------------------
Gross profit 526 977 4,019
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Operating expenses -1,179 -1,078 -4,785
--------------------------------------------------------------------------------
Selling and distribution expenses -837 -766 -3,346
--------------------------------------------------------------------------------
Administrative expenses -342 -312 -1,439
--------------------------------------------------------------------------------
Other income/expenses 50 12 -118
--------------------------------------------------------------------------------
Fair value adjustment on biological assets -270 -444 2,263
--------------------------------------------------------------------------------
Operating profit (-loss) -873 -533 1,379
--------------------------------------------------------------------------------
Financial income 6 0 2
--------------------------------------------------------------------------------
Financial expenses -34 -32 -240
--------------------------------------------------------------------------------
Profit (-loss) before tax -901 -565 1,141
--------------------------------------------------------------------------------
Income tax 62 101 -426
--------------------------------------------------------------------------------
Net profit (-loss) for the period -839 -464 715
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Other comprehensive income (-loss) that may
subsequently be classified to profit or loss:
--------------------------------------------------------------------------------
Foreign currency translation differences 0 -6 -43
--------------------------------------------------------------------------------
Total comprehensive income (-expense) -839 -470 672
--------------------------------------------------------------------------------
Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 452 1470
[email protected]
www.prfoods.ee