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PRF: AS Premia Foods unaudited financial report 4th quarter and 12 months of 2010

Spekuliantai.lt | 2011-02-22 | NASDAQ OMX biržų naujienos | perskaitė: 1602
Raktiniai žodžiai: Premia Foods AS, PRF
PRF: AS Premia Foods unaudited financial report 4th quarter and 12 months of 2010

Premia Foods Quarterly report 22.02.2011

PRF: AS Premia Foods unaudited financial report 4th quarter and 12 months of
2010

The turnover of Premia Foods for the 12 months of 2010 was 1.2 billion kroons
(77.3 million euro), EBITDA 111.0 million kroons (7.1 million euro) and net
profit 20.5 million kroons (1.3 million euro).
Compared to 2009, turnover has increased by 12.5%, EBITDA by 14% and net profit
by 89%.

Average EBITDA margin of the year was 9.2% and net profit margin 1.7%. Equity
ratio was as at the end of the year 60% and liquidity ratio 1.89. Compared to
2009, there has been remarkable improvement in respect of all the
above-referred ratios.

Tallinn, Estonia, 2011-02-22 08:00 CET (GLOBE NEWSWIRE) --

The management of the company considers the results of 12 months better than
expected.

“All forecast turnover and profitability ratios as estimated by the management
in the beginning of 2010 were exceeded, “ mr. Kuldar Leis, the CEO of Premia
Foods said. “34.2% of the product portfolio of Premia Foods forms ice cream,
38.5 fish and fish products and 25.7 frozen products, hence the portfolio is
well-balanced. The company is active on six markets and continues in leading
positions in all its target markets and product segments. 2010 was a
complicated year for the food industry as such, the influences of the economic
crisis on one hand and rapidly growing prices of raw materials on the other
made the market situation stressful. Despite the before mentioned circumstances
better growing results were achieved than estimated, which is the result of
remarkable efforts by the company and its employees,” mr Leis added.

The greatest part of the gross revenue, i.e. 53% was generated from the ice
cream segment. The greatest contribution to EBITDA and revenue came from fish
and fish products segment, whereas compared to 2009 EBITDA from fish and fish
products segment increased as much as 2 times and EBIT as much as 3 times.

The turnover generated from the ice cream business segment increased by 64% by
year, whereas compared to previous year the increase in the 4th quarter was
87.5%, i.e. 24.2 million kroons (1.5 million euro).

As to gross profit, the company earned 48.8 million kroons (3.1 million euro)
more from ice cream during 12 months and the segment's EBITDA grew by 12.0
million kroons (0.8 million euro).

From the frozen goods the company earned gross profit comparable to 2009, i.e.
69.6 million kroons (4.5 million euro) (in 2009 4.8 million euro, i.e. 75.6
million kroons).

“ 2010 was significant for Premia Foods as since 5.05.2010 the company is
listed on NASDAQ OMX Tallinn Stock Exchange, OOO Khladokombinat No 1 situated
in St Petersburg, Russia, was acquired in May and the loan portfolio which was
refinanced during 3rd quarter together with restructuring of the fish
processing have been giving the input for sales growth and costs cut. Today,
Premia Foods is stronger than ever, “ mr Kuldar Leis said.



Appendix:

-- Unaudited interim report of results of Q4 and 12 months of Premia Foods




Additional info:

Kuldar Leis
Premia Foods
Juhatuse esimees
T: +372 6 033 800
[email protected]
www.premiafoods.eu


1. Premia Foods Q4 interim report.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=336702)

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