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Tuesday, 22.07.2025, 13:59
Premia’s net profit grew by 89% in 2010
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“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,” he added.
“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 said.
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,” Leis said.
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