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PRF: Unaudited consolidated turnover of AS PRFoods in January 2019

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PRFoods'  unaudited consolidated  revenue amounted  to EUR  5.9 million euros in
January  2019. The turnover  declined by  1.7 million euros  compared to January
2018. Sales  volume decreased by  337 tonnes y-o-y, while  it grew by 144 tonnes
compared to the average monthly sales volume of 2018.

The  decline  in  turnover  and  sales  volume  is  attributable to discontinued
operations following the restructuring in the Group's Finnish arm as brought out
in  previous disclosures.  Trio Trading  Ab Oy  abolishing the  salmon reselling
business  resulted in a decline of revenue by 1.8 million euros and in volume by
377 tonnes  compared to the figures in January 2018. Revenue from the Group's UK
companies  declined by 0.2 million euros and volume by 16 tonnes. Revenue of the
Group  companies before the acquisitions i.e. Heimon Kala Oy, Överumans Fisk AB,
Vettel  OÜ and GourmetHouse OÜ increased by  0.4 million euros and volume by 56
tonnes.

Decrease in sales of raw fish and fillets, both in monetary terms and as a share
of  total,  reflects  the  Group's  decision  to  abolish  reselling of fish and
increase  sales of  fish products.  The share  of raw  fish and fillet's product
group  has decreased by 13.3 percentage points compared to the previous January,
whereas  the share  of smoked  and other  fish products  has increased  by 14.3
percentage points over the period.

+----------------------+---------+----------+---------+----------+
| Revenue, mln EUR     | 01 2019 | Share, % | 01 2018 | Share, % |
+----------------------+---------+----------+---------+----------+
| Smoked products      |    2.51 |   42.36% |    2.64 |   34.86% |
+----------------------+---------+----------+---------+----------+
| Raw fish and fillets |    2.45 |   41.45% |    4.14 |   54.72% |
+----------------------+---------+----------+---------+----------+
| Other fish products  |    0.94 |   15.95% |    0.69 |    9.16% |
+----------------------+---------+----------+---------+----------+
| Other revenue        |    0.01 |    0.24% |    0.10 |    1.26% |
+----------------------+---------+----------+---------+----------+
| Total                |    5.92 |  100.00% |    7.57 |  100.00% |
+----------------------+---------+----------+---------+----------+

The  breakdown of  sales by  client groups  also corresponds  to the Group's new
direction  - the revenue from wholesale  segment has decreased while the revenue
from  retail chains and HoReCa sector has  increased. The share of the wholesale
client  group has decreased by 19.3 percentage points over the year, whereas the
share  of  retail  chains  and  HoReCa  sector, combined, has increased by 20.2
percentage points.

+------------------+---------+----------+---------+----------+
| Revenue, mln EUR | 01 2019 | Share, % | 01 2018 | Share, % |
+------------------+---------+----------+---------+----------+
| Retail chains    |    2.59 |   43.72% |    2.20 |   29.00% |
+------------------+---------+----------+---------+----------+
| Wholesale        |    1.81 |   30.63% |    3.78 |   49.96% |
+------------------+---------+----------+---------+----------+
| HoReCa           |    1.46 |   24.59% |    1.45 |   19.15% |
+------------------+---------+----------+---------+----------+
| Other revenue    |    0.06 |    1.06% |    0.14 |    1.89% |
+------------------+---------+----------+---------+----------+
| Total            |    5.92 |  100.00% |    7.57 |  100.00% |
+------------------+---------+----------+---------+----------+

The  three largest markets accounting for  93.9% of total sales in January 2019
had an aggregated turnover of 5.6 million euros.

+------------------+---------+----------+---------+----------+
| Revenue, mln EUR | 01 2019 | Share, % | 01 2018 | Share, % |
+------------------+---------+----------+---------+----------+
| Finland          |    4.32 |   73.04% |    5.43 |   71.66% |
+------------------+---------+----------+---------+----------+
| Great Britain    |    0.86 |   14.47% |    1.03 |   13.66% |
+------------------+---------+----------+---------+----------+
| Estonia          |    0.38 |    6.43% |    0.38 |    5.05% |
+------------------+---------+----------+---------+----------+
| Other countries  |    0.36 |    6.06% |    0.73 |    9.62% |
+------------------+---------+----------+---------+----------+
| Total            |    5.92 |  100.00% |    7.57 |  100.00% |
+------------------+---------+----------+---------+----------+

The largest among other countries were Greece (0.07 million euros), France (0.06
million euros), Belgium (0.06 million euros) and Latvia (0.04 million euros).

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