• Home
  • Journal
  • Public Companies
  • PRF: AS PRFoods’ unaudited preliminary consolidated turnover of the 3rd quarter and 9 months of the 2019/2020 financial year

PRF: AS PRFoods’ unaudited preliminary consolidated turnover of the 3rd quarter and 9 months of the 2019/2020 financial year

PRFoods’ unaudited preliminary consolidated turnover in 3Q of the fiscal year 2019/2020 (1Q 2020) amounted to EUR 18.49 million euros i.e. increased by 2.3% compared to the same period a year ago (18.08 million euros in 1Q 2019). Turnover of the first 9 months of the financial year was 63.24 million (9m 2018/2019: 64.19 million euros).Q3 sales increased by 2,3%, raw fish and fillets growth was 23,8% and smoked products sales decreased by 12%.HoReCa  dropped by 15,2% of which March impacted most by 36% decrease (in comparison  January decrease was 2,7% and February  3,8%), in March the emergency situation impacted HoReCa sales in Finland and Estonia already.9 months y-o-y sales decreased only by 1,5% and there has been change in product portfolio – raw fish and fillets grew 4% pp and share of smoked fish decreased by 5% pp. The share of raw fish of total sales is  45% and smoked products comprise 38%.„As a result of Covid-19 epidemic, the customer behaviour has changed. We see growth in retail sales at the expense of HoReCa and increase of fresh fish sales. We believe that this trend is permanent and fits our long-term plans. HoReCa share in our sales historically has been around 20-30%, part of sales these  have been now transferred to retail“ commented Indrek Kasela, chairman of PRFoods. „We predict that fish prices will remain low until summer, as many international salmon buying high purchase power markets like USA and China are seeing decreased demand, which makes salmon and trout products more competitive with meat in our domestic markets. Most certainly we see some drop in sales in Q4, but at the same time we see no pressure on margins. One must remember that historically smoked products margins have been higher thant those of raw fish and fillets“.The sales of the raw fish and fillets increased by 23.8% in 3Q compared to last year same period and the share of the product group increased by 8.7 percentage points. The sales of smoked fish product group decreased by 12.0% and the share of it decreased by 5.9 percentage points. The sales of other fish products decreased by 14.7% and the segment’s share by 2.6 percentage points.The sales and share of wholesale client group increased by 17.2% and 4.9 percentage points, respectively. HoReCa sector sales declined 15.2% compared to same period last year of which decrease in March was 36%.The three largest markets had an aggregated turnover of 16.31 million euros accounting for 88.3% of total sales in 3Q 2019/2020 compared to 16.49 million euros the same period a year ago when the turnover of the largest markets accounted for 91.2% of the total sales. In quarterly comparison, the sales to Latvia has increased notably.About half the sales among other countries are from Belgium, Greece and France, with largely similar amounts each.Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 452 1470

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.