PRFoods’ unaudited consolidated turnover amounted to EUR 6.51 million euros in March 2019. The turnover declined by one million euro compared to March 2018.
The turnover of the Group’s pre-merger companies declined by 0.36 million euros, of the Group’s UK companies by 0.14 million euros and of Trio Trading AB by 0.50 million euros.
The decline in turnover stems mainly from the raw fish and fillets segment with turnover declining by 0.98 million euros. The largest decline in the product group stems from GourmetHouse OÜ (merged with Vettel OÜ in July 2018) in the amount of 0.57 million euros as a raw fish campaign in 2018 February-March did not take place this year. Trio Trading Ab Oy turnover in the product group declined by 0.34 million euros. As campaign-products are usually low-margin ones we do not anticipate a great effect of decline in turnover on profitability of the overall group.
The share of raw fish and fillet’s product group in total turnover decreased by 7.7 percentage points compared to March 2018, whereas the share of smoked fish products increased by 2.5 percentage points and the share of other fish products by 5.5 percentage points.
| Turnover by product groups, mln EUR | 03 2019 | Share, % | 03 2018 | Share, % |
| Raw fish and fillets | 2.60 | 40.02% | 3.58 | 47.68% |
| Smoked products | 2.84 | 43.71% | 3.09 | 41.19% |
| Other fish products | 1.04 | 15.93% | 0.78 | 10.45% |
| Other revenue | 0.02 | 0.34% | 0.05 | 0.68% |
| Total | 6.51 | 100.00% | 7.51 | 100.00% |
Compared to March 2018 the share of the wholesale client group increased by 3.7 percentage points and the share of HoReCa sector by 2.6 percentage points, whereas the share of retail chains decreased by 5.8 percentage points.
| Turnover by client groups, mln EUR | 03 2019 | Share, % | 03 2018 | Share, % |
| Retail chains | 2.45 | 37.62% | 3.26 | 43.40% |
| Wholesale | 2.40 | 36.87% | 2.49 | 33.18% |
| HoReCa | 1.61 | 24.66% | 1.66 | 22.11% |
| Other revenue | 0.06 | 0.85% | 0.10 | 1.31% |
| Total | 6.51 | 100.00% | 7.51 | 100.00% |
The three largest markets accounted for 87.8% of total sales in March 2019 and had an aggregated turnover of 5.71 million euros.
| Turnover by countries. mln EUR | 03 2019 | Share. % | 03 2018 | Share. % |
| Finland | 4.46 | 68.54% | 5.10 | 67.97% |
| Great Britain | 0.92 | 14.19% | 0.94 | 12.51% |
| Estonia | 0.33 | 5.05% | 0.55 | 7.34% |
| Other countries | 0.80 | 12.22% | 0.91 | 12.18% |
| Total | 6.51 | 100.00% | 7.51 | 100.00% |
The largest among other countries were France (0.10 million euros), Belgium (0.09 million euros), Greece (0.06 million euros) and Sweden (0.06 million euros).
Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 452 1470
investor@prfoods.ee
www.prfoods.ee