PRF: Unaudited consolidated turnover of AS PRFoods in October 2018
In October 2018 the unaudited consolidated sales revenue of PRFoods decreased by -18.5% y-o-y, i.e. by -1.6 million euros, reaching the level of 6.9 million euros.
Decrease in sales revenue was predictable as we are decreasing lower margin Norwegian salmon trade to other fish producers and focus more on our own products, including fresh fish direct sales to customers. October’s revenues were also influenced by later usage of own farmed fish, as due to more favourable climate we started only in November (longer growing period provides better growth).
In the end of October, we started export to China from PRFoods’ factory in Great Britain as well as got new customers from EU and Switzerland. We expect significant improvement in profitability from Estonia and Great Britain. Profitability is decreasing in Trio Trading (merging into Heimon Kala Oy) due to the decrease of trading sales volume, but it is compensated by better profitability from other entities.
3rd quarter of 2018 intermediate report will be published at 30.11.2018. Last quarter of calendar year is traditionally the most important quarter for both turnover and profit, and we are optimistic about outlook of the quarter.
Revenue is divided by largest target markets in October as following: Finland 4.8 million euros, UK 1.0 million euros, Estonia 0.7 million euros, Latvia 0.1 million euros, France 0.1 million euros and Belgium 0.1 million euros. Remaining revenue 0.1 million euros consists of export to various countries.
Starting from 2018, the Group is publishing sales revenue monthly by product groups. Detailed overview of sales revenue by customer groups and countries will be published in quarterly report.
| Revenues mln EUR | 10’2018 | 10’2017 | change | change % |
| Smoked products | 2.9 | 3.3 | -0.4 | -10.9% |
| Other fish products | 0.8 | 0.9 | -0.1 | -12.8% |
| Raw fish and fillets | 3.2 | 4.2 | -1.0 | -23.8% |
| Other | 0.0 | 0.1 | -0.1 | -95.0% |
| Total | 6.9 | 8.5 | -1.6 | -18.5% |
The largest decrease in October compared to previous year in revenue came from the raw fish and fillets products group, which decreased by -1.0 million euros, i.e. -23.8%. The revenue from the smoked products group decreased by -0.4 million euros, i.e. -10.9% and the revenue from the other fish product group decreased by -0.1 million euros, i.e. -12.8%.
Indrek Kasela
AS PRFoods
Member of the Management Board
Phone:
