PRFoods’ unaudited preliminary consolidated turnover in the 2nd quarter of the financial year of 2021/2022 amounted to
Indrek Kasela, CEO, PRFoods:
„2nd quarter and 6 months sales were mostly affected by closing of Kokkola factory and related reduction of fresh fish sales in
Compared to last year, we see rapid recovery of HoReCa in 2022. At the same time we are more careful to re-enter these markets due to low profitability and instability. At the end of 2021 we saw increase in COGS and sales prices and significant price increases have been confirmed for 2022. Most likely we will see continous price increases throughout 2022, which is caused by recovered demand and cost increases. In short it is clear that processing industries have been losers in corona crisis and fish farmers have been winners. This we see also in our group, where fish farming is posting record results while processing due to private label size of the market in
In the second quarter of the financial year, the sales increased in smoked products groups compared to the second quarter of the previous financial year as well as to compare the 6 months of previous financial year. The sales of smoked products that accounted more than half of the total sales 55.64% (2Q 2020/2021: 46.63%) increased by 4.4% over the financial years.The sales of tresh fish and fillets product group that formed 22.82% of the product portfolio (2Q 2020/2021: 32.41%) sales decreased by 38.4% compared to the second quarter of the previous financial year.
Turnover by product groups, mln EUR | 2Q 21/22 | 2Q 20/21 | Change, EUR | Change, % |
Fresh fish and fillets | 3.40 | 5.52 | -2.12 | -38.4% |
Smoked products | 8.29 | 7.94 | 0.35 | 4.4% |
Other fish products | 3.21 | 3.57 | -0.36 | -10.1% |
Other revenue | 0.00 | 0.00 | 0.00 | -100.0% |
Total | 14.90 | 17.03 | -2.13 | -12.5% |
Turnover by product groups, mln EUR | 6m 21/22 | 6m 20/21 | Change, EUR | Change, % |
Fresh fish and fillets | 8.75 | 9.63 | -0.88 | -9.1% |
Smoked products | 15.44 | 14.24 | 1.20 | 8.4% |
Other fish products | 5.11 | 5.89 | -0.78 | -13.2% |
Other revenue | 0.00 | 0.01 | -0.01 | -60.0% |
Total | 29.30 | 29.77 | -0.47 | -1.6% |
By customer groups the sales declined in retail chains by 25.8% and wholesale sector 20.0%, in HoReCa sectors the increase was 16.9% respectively. The share of retail chains’ sales of the financial year’s total sales was ca 48.12%, HoReCa and wholesale accounted for 22.29% and 18.5% respectively. In the second quarter of the previous financial year the customer groups accounted for 56.71%, 16.7% and 20.26% respectively.
Turnover by client groups. mln EUR | 2Q 21/22 | 2Q 20/21 | Change. EUR | Change. % |
Retail chains | 7.17 | 9.66 | -2.49 | -25.8% |
Wholesale | 2.76 | 3.45 | -0.69 | -20.0% |
HoReCa | 3.32 | 2.84 | 0.48 | 16.9% |
Other revenue | 1.65 | 1.08 | 0.57 | 52.8% |
Total | 14.90 | 17.03 | -2.13 | -12.5% |
Turnover by client groups. mln EUR | 6m 21/22 | 6m 20/21 | Change. EUR | Change. % |
Retail chains | 13.89 | 17.08 | -3.19 | -18.7% |
Wholesale | 6.70 | 5.33 | 1.37 | 25.7% |
HoReCa | 6.26 | 5.87 | 0.39 | 6.6% |
Other revenue | 2.45 | 1.49 | 0.96 | 64.4% |
Total | 29.30 | 29.77 | -0.47 | -1.6% |
The three largest markets had an aggregated turnover of
Turnover by countries. mln EUR | 2Q 21/22 | 2Q 20/21 | Change. EUR | Change. % |
7.39 | 11.00 | -3.61 | -32.8% | |
3.26 | 2.73 | 0.53 | 19.4% | |
1.16 | 1.08 | 0.08 | 7.4% | |
0.10 | 0.74 | -0.64 | -86.5% | |
Other countries | 2.99 | 1.48 | 1.51 | 102.0% |
Total | 14.90 | 17.03 | -2.13 | -12.5% |
Turnover by countries. mln EUR | 6m 21/22 | 6m 20/21 | Change. EUR | Change. % |
16.81 | 18.83 | -2.02 | -10.7% | |
5.90 | 4.74 | 1.16 | 24.5% | |
2.36 | 2.48 | -0.12 | -4.8% | |
0.15 | 1.26 | -1.11 | -88.1% | |
Other countries | 4.08 | 2.46 | 1.62 | 65.9% |
Total | 29.30 | 29.77 | -0.47 | -1.6% |
Indrek Kasela
Member of the Management Board
Phone: +372 452 1470
investor@prfoods.ee
www.prfoods.ee
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