PRFoods’ unaudited preliminary consolidated turnover in the 1st quarter of the financial year of 2020/2021 amounted to
Indrek Kasela, CEO, PRFoods:
„The impact of COVID-19 continues in fish sector and as we noted in last sales announcement, HoReCa sector which gives ca 1/3 of salmon- and troutbusiness both globally and regionally, will not recover to previous levels in next 12 months. To some extent this is offset by retail, but not in adequate amount. This has created a situation where there is too much fish and production capacities in the market, forcing lot of producers to cut prices. During last quarter we forewent to large extent fresh fish trading in
In the first quarter of the financial year, the sales declined in all product groups compared to the first quarter of the previous financial year. The sales of fresh fish and fillets’ product group that formed 32.4% of the product portfolio (1Q 2019/2020: 41.8%) nearly halved compared to the first quarter of the previous financial year. The sales of smoked products that accounted for about half of the total sales (1Q 2019/2020: 42.0%) declined by 22.3% over the financial years.
Turnover by product groups, mln EUR | 1Q 20/21 | 1Q 19/20 | Change, EUR | Change, % |
Fresh fish and fillets | 4.12 | 8.07 | -3.95 | -48.9% |
Smoked products | 6.30 | 8.11 | -1.81 | -22.3% |
Other fish products | 2.31 | 3.11 | -0.81 | -25.9% |
Other revenue | 0.01 | 0.02 | -0.01 | -59.7% |
Total | 12.74 | 19.32 | -6.57 | -34.0% |
By customer groups, the sales declined in retail chains by 1.2%, in HoReCa and wholesale sectors the decline was 52.2% and 60.8%, respectively. The share of retail chains’ sales of the financial year’s total sales was ca 60%, and HoReCa and wholesale accounted for ca 20% each. In the first quarter of the previous financial year, the customer groups accounted for 41.3%, 24.% and 33.1%, respectively.
Turnover by client groups, mln EUR | 1Q 20/21 | 1Q 19/20 | Change, EUR | Change, % |
Retail chains | 7.43 | 7.52 | -0.09 | -1.2% |
Wholesale | 2.40 | 6.14 | -3.74 | -60.8% |
HoReCa | 2.49 | 5.20 | -2.72 | -52.2% |
Other revenue | 0.42 | 0.45 | -0.03 | -6.7% |
Total | 12.74 | 19.32 | -6.57 | -34.0% |
The three largest markets had an aggregated turnover of
Turnover by countries, mln EUR | 1Q 20/21 | 1Q 19/20 | Change, EUR | Change, % |
7.83 | 13.14 | -5.31 | -40.4% | |
2.01 | 2.79 | -0.77 | -27.7% | |
1.41 | 1.46 | -0.05 | -3.4% | |
0.51 | 0.69 | -0.18 | -26.5% | |
Other countries | 0.98 | 1.24 | -0.26 | -20.9% |
Total | 12.74 | 19.32 | -6.57 | -34.0% |
Indrek Kasela
Member of the Management Board
Phone: +372 452 1470
investor@prfoods.ee
www.prfoods.ee
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