Ice cream-to-fish group Premina Foods has booked a jump in full-year turnover, boosted by higher sales from its fish business and growth in Finland.

In a regulatory filing, the Estonia-based company said full-year sales rose 14.4% to EUR98.9m (US$134.6m). The "greatest contribution" to the growth came from the firm's seafood segment, where sales rose 24.8%.

The group's fastest-growing market was Finland, where sales increased by one-quarter. Premina said it saw sales rise across all its markets, with the exception of Russia which was hit by foreign exchange.

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PRF: Unaudited consolidated turnover of AS Premia Foods, 4th quarter and 12 months, 2013

Tallinn, Estonia, 2014-01-15 08:00 CET (GLOBE NEWSWIRE) --  

The unaudited consolidated turnover of AS Premia Foods in the 4th quarter of 2013 increased, if compared to the 4th quarter of 2012, by 32.5%, i.e. 6.4 million euro, reaching 26.0 million euro. In the summary of the 12 months of 2013, the turnover of Premia Foods was 98.9 million euro, exceeding the results of 2012 by 14.4%, i.e. by 12.5 million euro.  

In the summary of 12 months of 2013, the turnover increased in all business segments and target markets of Premia Foods, except for Russia where the decrease in turnover resulted from the weakening of ruble exchange rate against euro. The greatest contribution into Premia’s increase of turnover of 2013 came from the fish business segment, the turnover of which increased, if compared to the previous year, by 8.5 million euro, i.e. 24.8%. The fastest-growing target market was Finland where the turnover increased in 2013 by 7.2 million euro, i.e. 24.9%.

Turnover by business segment (MEUR)

Q1 
2013

Q1
2012

Q2 
2013

Q2
2012

Q3 2013

Q3 2012

Q4 2013

Q4 2012

12 months 2013

12 months 2012

12 months 2013/12 months 2012

Ice cream

3.6

3.7

12.1

10.7

10.4

10.0

2.7

3.0

28.8

27.4

+4.9%

Frozen goods

5.9

5.3

6.0

5.6

6.2

5.6

6.1

5.9

24.2

22.4

+8.0%

Fish and fish products

8.2

7.7

8.9

9.2

9.4

7.3

16.2

10.1

42.7

34.2

+24.8%

Other

0.6

0.4

0.8

0.6

0.9

0.6

0.9

0.6

3.2

2.3

+38.1%

Total

18.3

17.1

27.8

26.1

26.9

23.6

26.0

19.6

98.9

86.4

+14.4%

The turnover of the ice cream business segment decreased in the 4th quarter of 2013, if compared to the same period of previous year, by 0.3 million euro, i.e. 9.5%, whereas the main reason thereof was the weakening of the exchange rate of the Russian ruble against euro. In the summary of 12 months, the turnover of the business segment increased, if compared to 2012, by 1.3 million euro, i.e. 4.9%. The greatest monetary contribution came from Estonia where the turnover increased within a year by 1.0 million euro, i.e. 10.8%. Estonia was followed by Latvia with the yearly increase in turnover of 0.4 million euro (+10.6%). The ice cream business segment contributed 29.1% to the total turnover of Premia Foods in 2013.   

The turnover of the frozen goods business segment increased during the 4th quarter of 2013 on an annual basis by 3.9%, i.e. 0.2 million euro. The turnover of the frozen goods business segment in 2013 was 24.2 million euro, which is by 8.0%, i.e. 1.8 million euro better result than the one of 2012. The most, i.e. by 1 million euro, increased the turnover of the frozen goods in Lithuania. The proportion of the turnover of the frozen goods in the total turnover of Premia Foods was 24.5%. 

In 2013, the fastest growth was achieved by the fish and fish products business segment. In the 4th quarter of 2013, the yearly increase was 60.4%, i.e. 6.1 million euro. The increase of turnover during the 4th quarter came mainly from successful sales campaigns of raw fish and fillet and from the wholesale sector. In the summary of 2013, the turnover of the fish business segment increased on an annual comparison by 24.8%, i.e. 8.5 million euro. The fish and fish products business segment contributed 43.2% of the total turnover of Premia Foods in 2013.  

Turnover by target market
(MEUR)

Q1 
2013

Q1
2012

Q2 
2013

Q2
2012

Q3 2013

Q3 2012

Q4 2013

Q4 2012

12 months 2013

12 months 2012

12 months 2013/12 months 2012

Finland

6.8

6.7

8.0

7.9

8.3

6.3

13.2

8.2

36.3

29.0

+24.9%

Estonia

5.3

4.9

7.9

7.5

8.1

7.4

6.7

5.8

28.1

25.6

+9.6%

Latvia

2.9

2.4

4.3

3.7

4.0

3.7

3.4

2.8

14.5

12.7

+14.8%

Lithuania

1.8

1.6

4.0

3.6

3.5

3.3

1.8

1.7

11.1

10.2

+9.4%

Russia

1.4

1.5

3.5

3.3

2.8

2.8

0.8

1.1

8.5

8.7

-2.0%

Other

0.0

0.0

0.2

0.2

0.1

0.0

0.0

0.0

0.3

0.2

+67.6%

Total

18.3

17.1

27.8

26.1

26.9

23.6

26.0

19.6

98.9

86.4

+14.4%

 

In 2013, the turnover of Premia increased in all target markets, except for Russia where the decrease in turnover resulted from the weakening of ruble exchange rate against euro. The greatest growth in turnover came from Finland where the increase was, if compared to the previous year, 7.2 million euro. Estonia followed with the increase of turnover of 2.4 million euro and Latvia came third with its increase of turnover of 1.7 million euro. The proportion of the Baltics in the turnover of Premia Foods was 54.4% of the total turnover of 2013. 

 

 

Original source: AS Premia Foods