Baltic Export, Estonia, Foodstuff, Good for Business, Markets and Companies

The unaudited consolidated turnover of the first nine months of 2014 reached 78.3 million euro, having increased by 7.4%, i.e. 5.4 million euro, within a year.

The turnover of the ice cream business segment increased in the third quarter of 2014 by 0.9 million euro, i.e. 8.4%. In the summary of nine months, the turnover of the business segment, if calculated in euro, decreased by 0.9 million euro, i.e. 3.5%, if compared to the same period of the previous year, however, if the weakening of the Russian rouble against euro is eliminated, the turnover of the business segment increased by 0.6% during the given period. The turnover of ice cream increased in Estonia, Finland and, if calculated in Russian roubles, in the Russian market. The turnover of ice cream decreased the most in Lithuania during the reporting period; however, a major part of the decrease in turnover in the Lithuanian market came from the decreased turnover of private label products. In summary of the 9 months, the ice cream business segment contributed 32.1% to the total turnover of Premia Foods.

The turnover of the frozen goods business segment increased on an annual basis by 8.6%, i.e. 0.5 million euro, during the third quarter of 2014. In summary of the nine months of 2014, the increase of the business segment was 8.1%, i.e. 1.5 million euro, if compared to the previous year. The greatest monetary contribution into the increased turnover came from Latvia where the turnover increased by 1.0 million euro. The proportion of the turnover of the frozen goods in the total turnover of the nine months of 2014 was 25.0%.

The turnover of the fish and fish products business segment increased during the third quarter of 2014 by 5.2%, i.e. 0.5 million euro, if compared to the third quarter of 2013. In summary of the nine months, the turnover of the fish business segment increased by 17.4%, i.e. 4.6 million euro, in annual comparison. The increase came mostly from the Finnish retail market and the cold and hot smoked product groups. The fish and fish products business segment contributed 39.8% to the total turnover of Premia Foods during the nine months of 2014.

In summary of the nine months of 2014, the turnover increased in the Finnish, Latvian and Estonian markets. In Lithuania, the level of the previous year was maintained. The main influence of the decrease in turnover in the Russian market was the weakening of the Russian rouble exchange rate against euro. However, Premia buys the raw materials necessary for the ice cream production in roubles and sells the final product in the Russian market also only in roubles, therefore, the fluctuations of the rouble against euro does not impact the daily work of the company and, if calculated in roubles, the turnover in the Russian market increased on an annual basis by 4.3%. The proportion of the Baltics in the turnover of Premia Foods during the nine months of 2014 was 55.3%.

On 06.10.2014, AS Premia Foods entered into a sales transaction for the sale of the Baltic and Russian ice cream and frozen goods operations and will keep only the fish and fish products business.