Industry Insights

PRF: Unaudited consolidated turnover of AS PRFoods for 2nd quarter and 6 months of 2017
PRF: Unaudited consolidated turnover of AS PRFoods for 2nd quarter and 6 months of 2017

Revenue by product groups 

Revenues mln EUR Q1 2017 Q1 2016 Q2 2017 Q2 2016 6m 2017 6m 2016 Change Change % Proportion
Smoked products 4.0 3.6 5.9 3.9 9.9 7.5 +2.4 +32.8% 42.0%
Other fish products 1.7 1.5 2.3 1.8 3.9 3.3 +0.6 +18.2% 16.7%
Raw fish and fillets 4.9 5.1 4.9 4.1 9.7 9.2 +0.6 +6.2% 41.2%
Other 0.0 0.0 0.0 0.0 0.0 0.0 +0.0 +16.0% 0.1%
Total 10.6 10.2 13.1 9.8 23.6 20.0 +3.6 +18.2% 100.0%

The largest increase compared to previous year in revenue came from the smoked products group, which increased by 2.4 million euros, i.e. +32.8%. The revenue from from the other fish products group increased by +0.6 million euros, i.e. +18.2% and the revenue from the raw fish and fillets product group increased by +0.6 million euros, i.e. +6.2%.

 Revenue by client segments

Revenues mln EUR Q1 2017 Q1 2016 Q2 2017 Q2 2016 6m 2017 6m 2016 Change Change % Proportion
HoReCa 3.7 2.9 4.7 3.4 8.4 6.4 +2.0 +31.9% 35.6%
Retail chains 4.4 5.3 6.5 4.9 10.9 10.2 +0.7 +6.7% 46.2%
Wholesale 2.4 2.0 1.8 1.3 4.2 3.3 +0.9 +27.0% 17.7%
Other 0.1 0.0 0.1 0.1 0.1 0.1 +0.0 +20.7% 0.5%
Total 10.6 10.2 13.1 9.8 23.6 20.0 +3.6 +18.2% 100.0%

Based on client segments, the first 6 months’ revenue of 2017 increased the most in HoReCa sector, by +2.0 million euros, i.e. +31.9%. Revenue increased in retail chains sector by +0.7 million euros, i.e. +6.7% and in wholesale sector by +0.9 million euros, i.e. 27.0%.

Revenue by target markets

Revenues mln EUR Q1 2017 Q1 2016 Q2 2017 Q2 2016 6m 2017 6m 2016 Change Change % Proportion
Finland 9.0 8.3 10.5 8.0 19.5 16.2 +3.3 +20.2% 82.6%
Estonia 1.0 1.4 1.6 1.3 2.6 2.7 -0.1 -3.8% 10.9%
Other 0.6 0.6 0.9 0.5 1.5 1.1 +0.5 +41.4% 6.5%
Total 10.6 10.2 13.1 9.8 23.6 20.0 +3.6 +18.2% 100.0%

Finnish revenue in first 6 months of 2017 increased by +3.3 million euros, i.e. 20.2%. The share of Finnish market formed 82.6% of the total revenue, having increased by 1.4 percentage points compared to the same period last year.

First 6 months’ revenue of 2017 increased in Estonia by -0.1 million euros, i.e. -3.8%. The proportion of the revenue from the Estonian market decreased by -2.5% percentage points in comparison with the same period last year.

Revenue in other countries increased by +0.5 million euros in Q2 2017 and the proportion of revenue from these markets grew by +1.1 percentage points.

Tallinn, Estonia, by Indrek Kasela, Member of the Management Board  Source: PRFoods