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PRF: Unaudited financial results of AS Premia Foods, 3rd quarter and 9 months, 2012

Spekuliantai.lt | 2012-11-14 | NASDAQ OMX biržų naujienos | perskaitė: 1401
Raktiniai žodžiai: Premia Foods AS, PRF
PRF: Unaudited financial results of AS Premia Foods, 3rd quarter and 9 months, 2012

Premia Foods Quarterly report 14.11.2012

Unaudited financial results of AS Premia Foods, 3rd quarter and 9 months, 2012

Tallinn, Estonia, 2012-11-14 08:00 CET (GLOBE NEWSWIRE) --

The main financial results of the operations of Premia Foods during the
reporting period are the following:

-- The unaudited consolidated turnover of the 3rd quarter was 23.6 million
euro, which is 0.5 million euro, i.e. 1.9%, less than during the same
period previous year.
-- The turnover of 9 months was 66.8 million euro; the turnover of the same
period 2011 was 1.5 million euro, i.e. 2.2%, more than during the reporting
period.
-- The gross margin and the gross profit increased during both periods – in
the 3rd quarter but also in the summary of the 9 months.
-- The gross margin increased in the 3rd quarter, if compared to the same
period previous year, by altogether 1.8 percentage points reaching the
level of 30.2%. In the summary of the 9 months, the gross margin increased
by 2.2 percentage points reaching the level of 28.8%.
-- The gross profit increased in the 3rd quarter by 0.3 million euro, reaching
7.1 million euro. In the summary of the 9 months, the gross profit
increased, if compared to the same period 2011, by 1.1 million euro,
reaching 19.3 million euro. During the referred period, the gross profit
increased on the account of
ice cream and frozen
goods business segments.
-- The operational EBITDA in the 3rd quarter was 0.2 million euro less than
during the same period previous year. In the summary of the 9 months, the
respective figure was 0.4 million euro less than during the same period
2011. While in the 3rd quarter, the main part of the decrease of the
operational EBITDA came from the fish business segment, then in the summary
of the 9 months the decrease of the operational EBITDA came from the ice
cream business segment.
-- On 3 September 2012, the decrease of share capital by 3.9 million euro was
registered in the Commercial Register. As due to regulatory requirements
the actual payments to the shareholders may be done not before 3 months
have passed from the registration, then, for the purposes of this report,
the relevant liability has been accounted under current payables and
pre-payments. The decrease of the share capital enables to balance the
capital structure of the company and bring the equity returns and financial
leverage ratios to a more adequate level.
-- In the summary of the 9 months, the net profit of the company remains on
the same level with the same period 2011, being 0.7 million euro.

The company’s key ratios of the 3nd quarter and the 9 months of 2012 have been
indicated in the following table.


KEY

RATIOS
--------------------------------------------------------------------------------
--------------
Profit Formul Q1 Q2 Q3 9m 2012 Q1 Q2 Q3
9m 2011
& a
Loss,
EUR
mln
Sales 17,1 26,1 23,6 66,8 16,7 27,6
24,1 68,3
Gross 4,2 7,9 7,1 19,3 3,2 8,1 6,8
18,2
profi
t
EBITDA before 0,0 2,7 2,1 4,9 -0,5 3,4 2,3
5,2
from one-o
opera ffs
tions and
fair
value
adjus
tment
EBITDA -0,6 1,9 1,9 3,2 -1,3 2,2 3,2
4,1
EBIT -1,4 1,1 1,0 0,7 -2,3 1,2 2,3
1,2
Net -1,2 0,8 1,1 0,7 -2,0 1,1 1,6
0,7
profi
t
Gross Gross 24,5% 30,4% 30,2% 28,8% 19,4% 29,5%
28,4% 26,6%
margi profi
n t /
Net
sales
Operat EBITDA 0,1% 10,5% 8,9% 7,3% -2,7% 12,4%
9,4% 7,7%
ional from
EBITD opera
A tions
margi / Net
n sales
EBIT EBIT / -8,3% 4,0% 4,4% 1,0% -13,8% 4,4%
9,5% 1,8%
margi Net
n sales
Net Net -6,9% 2,9% 4,7% 1,0% -11,9% 4,0%
6,6% 1,0%
margi earni
n ngs /
Net
sales
Operat Operat 29,7% 24,0% 26,1% 26,2% 29,6% 23,4%
24,4% 25,3%
ing ing
expen expen
se ses /
ratio Net
sales
Balanc formul 31.12.11 31.03.12 30.06.12 30.09.12 31.12.10 31.03.11
30.06.11 30.09.11
e a
Sheet
, EUR
mln
Net Short 11,3 12,2 12,0 10,9 11,2 14,5
13,0 10,7
debt and
Long
term
Loans
and
Borro
wings
-
Cash
Equity 40,5 39,3 39,8 37,1 41,4 39,4
40,1 41,7
Workin Curren 12,8 12,0 12,4 9,7 12,8 12,1
12,9 15,0
g t
capit Asset
al s -
Curre
nt
Liabi
lities
Assets 64,1 64,2 68,5 65,4 68,9 68,9
70,6 66,2
Liquid Curren 2,19 1,91 1,70 1,55 1,87 1,75
1,73 2,27
ity t
ratio Asset
s /
Curre
nt
Liabi
lities
Equity Equity 63% 61% 58% 57% 60% 57% 57%
63%
ratio /
Total
Asset
s
Gearin Net 22% 24% 23% 23% 21% 27% 24%
20%
g Debt
ratio /
(Equi
ty +
Net
Debt)
Net Net 1,98 1,98 2,19 2,06 2,54 4,01
2,35 2,09
debt- Debt
to-EBI /
TDA EBITD
A from
opera
tions
ROE Net -1% 1% 0% -1% 4% 1% 2%
-1%
Earni
ngs /
Avera
ge
Equit
y
ROA Net -1% 0% 0% -1% 2% 1% 1%
-1%
Earni
ngs /
Avera
ge
Asset
s

The main figures by the business segments of Premia Foods for 3rd quarter and 9
months are indicated in the table below.

SEGMENT
ANALYSIS
--------------------------------------------------------------------------------

EUR million Q1 Q2 Q3 9m 2012 Q1 Q2 Q3 9m 2011
Sales
Ice cream 3,7 10,7 10,0 24,4 4,0 12,2 9,4 25,7
Frozen goods 5,3 5,6 5,6 16,5 4,9 5,0 5,6 15,5
Fish and fish 7,7 9,2 7,3 24,2 7,4 9,8 8,6 25,8
products
Other 0,4 0,6 0,6 1,7 0,3 0,5 0,5 1,3
Total 17,1 26,1 23,6 66,8 16,7 27,6 24,1 68,3

Gross profit
Ice cream 1,3 5,0 4,6 10,8 1,0 5,3 3,5 9,8
Frozen goods 1,2 1,3 1,3 3,8 1,1 0,9 1,4 3,5
Fish and fish 1,5 1,5 1,1 4,1 1,0 1,8 1,9 4,6
products

Gross margin
Ice cream 35% 46% 46% 44% 26% 43% 37% 38%
Frozen goods 24% 23% 23% 23% 23% 19% 25% 22%
Fish and fish 20% 16% 15% 17% 13% 18% 22% 18%
products

EBITDA from
operations
Ice cream -0,4 1,8 1,5 3,0 -0,3 2,7 1,1 3,5
Frozen goods -0,3 0,2 0,1 0,0 -0,3 0,1 0,2 0,1
Fish and fish 0,7 0,8 0,6 2,1 0,2 0,9 1,0 2,1
products

EBITDA
Ice cream -0,4 1,8 1,5 3,0 -0,4 2,0 0,9 2,4
Frozen goods -0,3 0,2 0,1 0,0 -0,3 0,1 0,2 0,1
Fish and fish 0,1 -0,1 0,3 0,4 -0,5 0,4 2,1 2,0
products

EBIT
Ice cream -0,6 1,5 1,2 2,1 -0,8 1,5 0,5 1,2
Frozen goods -0,5 0,1 0,0 -0,4 -0,5 0,1 0,0 -0,4
Fish and fish -0,1 -0,3 0,1 -0,3 -0,8 0,1 1,9 1,2
products






Additional information:

Kuldar Leis
Premia Foods
Chairman of the Management Board
T: +372 6 033 800
[email protected]
www.premiafoods.eu


1. PRF 2012 Q3 interim report.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=409861)
2. Presentation PRF 2012 Q3.pdf
(https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=409862)

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