Tallinn, Estonia, 2012-10-09 08:00 CEST (GLOBE NEWSWIRE) --
Compared to the year 2011, during the 3rd quarter, the sales of ice cream increased, the frozen goods business segment remained stable and the setback came from the fish business segment. In the summary of 9 months, the frozen goods business segment generated the best results; however, there is a minor underperformance in the ice cream business segment and the fish business segment.
The unaudited consolidated turnover of AS Premia Foods in the 3rd quarter 2012 was 23.6 million euro, if compared to the results of the same period previous year, the turnover has decreased by 0.5 million euro, i.e. 1.9%. The company’s turnover of 9 months was 66.8 million euro; the result of the same period previous year was 1.5 million euro or 2.2% more.
|
Turnover by business segment (MEUR) |
Q1 2012 |
Q1 2011 |
Q2 2012 |
Q2 2011 |
Q3 2012 |
Q3 2011 |
9 months 2012 | 9 months 2011 |
| Ice cream | 3.7 | 4.0 | 10.7 | 12.2 | 10.0 | 9.4 | 24.4 | 25.7 |
| Frozen goods | 5.3 | 4.9 | 5.6 | 5.0 | 5.6 | 5.6 | 16.5 | 15.5 |
| Fish and fish products |
7.7 |
7.4 |
9.2 |
9.8 |
7.3 |
8.6 |
24.2 |
25.8 |
| Other | 0.4 | 0.3 | 0.6 | 0.5 | 0.6 | 0.5 | 1.7 | 1.3 |
| Total | 17.1 | 16.7 | 26.1 | 27.6 | 23.6 | 24.1 | 66.8 | 68.3 |
Traditionally the ice cream business segment is evaluated by summing up the results of the 2nd and the 3rd quarters, i.e. the summer period. There was a pleasant surprise in the 3rd quarter of the current year in the ice cream business segment – despite the continuously poor summer weather in the 3rd quarter, Premia managed to sell almost 7% more than during the same period of 2011, while the turnover in the Russian market increased during the 3rd quarter by altogether 14%. Therefore, the aggregate result of the 2nd and 3rd quarters of 2012, if compared to the hot summer of 2011, was mere 0.9 million euro, i.e. 4% less. 9 months turnover of the ice cream business segment of the Baltics was by 1.5% less than during the same period last year, the results of this segment in total remained below the results of 9 months of 2011 by 4.8%.
The sales of frozen goods remained stable in the 3rd quarter and; in summary of 9 months, the segment indicated the sales growth of 6.4%. The increase has been the greatest in the Latvian and Lithuanian market, however, the sales in the Estonian market are also indicating a slight increase. As characteristic to the summer period, different frozen meat and potato products were popular, the sales of vegetables was also according to the plan, in the retail sector as well as in the HoReCa sector.
The turnover of the fish and fish products segment was in the 3rd quarter continuously influenced by the decreasing prices of raw fish, which, in turn, affects the price level of raw fish sold by Premia in Finland. Nevertheless the sales of 9 months of 2012 in tons increased by 3.3%. The loss in turnover in the raw fish segment was to some extent compensated by the good results of the sales of the Iso-Grilli barbecue products, almost 44 tons of which were sold during the summer period, out of which 40% were sold during the 3rd quarter. In addition to that, the turnover of the HoReCa sector in Finland has been successfully increased, the growth in turnover of which during 9 months amounts to 80% and the turnover in total is 6 million euro. In the summary of 9 months, the Estonian market enjoyed also a growth of 3%.
| Turnover by target market (MEUR) |
Q 1 2012 |
Q1 2011 |
Q2 2012 |
Q2 2011 |
Q3 2012 |
Q3 2011 |
9 months 2012 | 9 months 2011 | ||
| Finland | 6.7 | 6.3 | 7.9 | 8.5 | 6.3 | 7.7 | 20.9 | 22.6 | ||
| Estonia | 4.9 | 4.7 | 7.5 | 7.5 | 7.4 | 7.3 | 19.8 | 19.4 | ||
| Latvia | 2.4 | 2.3 | 3.7 | 3.6 | 3.7 | 3.5 | 9.8 | 9.4 | ||
| Lithuania | 1.6 | 1.4 | 3.6 | 3.6 | 3.3 | 3.1 | 8.4 | 8.1 | ||
| Russia | 1.5 | 1.9 | 3.3 | 4.3 | 2.8 | 2.5 | 7.6 | 8.7 | ||
| Other markets | 0 | 0 | 0.2 | 0.1 | 0.0 | 0.0 | 0.2 | 0.1 | ||
| Total | 17.1 | 16.7 | 26.1 | 27.6 | 23.6 | 24.1 | 66.8 | 68.3 |
During the 3rd quarter of the current year, the turnovers of all the Baltic markets and the Russian market increased, while the Estonian market had the greatest turnover out of all the target markets of Premia during that period, outperforming the historical turnover leader Finland by 1.1 million euro. The turnover of the Estonian market increased during this period by 2.5%, if compared to the same period of 2011. A positive surprise came also from Russia where the target market turnover during the 3rd quarter of 2012 increased by 13%, if compared to the same period of 2011. The turnovers of Latvia and Lithuania also increased during the 3rd quarter of 2012, if compared to the same period of 2011, by 6.8% and 6.4%, respectively.
In summary of 9 months of 2012, if compared to the same period of 2011, the turnover of the Latvian market has increased the most, i.e. by 5%, Lithuania and Estonia follow, with the improvement of turnover by 3.9% and by 2%, respectively. The results of Finland and Russia during this period remain below the results of 2011, by 7.6% and by 12.2%, respectively.
Additional information:
Kuldar Leis
Premia Foods
Chairman of the Management Board
T: +372 6 033 800
kuldar.leis@premia.ee
www.premiafoods.eu