AS PREMIA FOODS

AS PREMIA FOODS Consolidated Unaudited Interim Report for 4 th quarter and 12 months of 2012
The main figures by the business segments of Premia Foods for the 4 th quarter and 12 months are indicated in the table
below.
Fish and fish products business segment
In 2012, the fish and fish products business segment as a whole was characterized by the decreased prices of raw fish, which
had a direct impact on the turnover of Premia’s fish business segment. At the same time, as the market price of rainbow
trout decreased by 13%, the turnover of Premia’s fish business segment, in the summary of 2012, decreased by only 8.6%
and in terms of quantity, in the summary of 2012, the sales increased by 2%. At the same time, if compared to the previous
year, Premia’s turnover in the Horeca sector increased by 80% in 2012. In the Finnish market, retail chains concentrate more
on private label products, hence in 2012 Premia focused also on developing and launching products with a higher additional
value. As at the end of the year, Premia is in the 2 nd place as regards to the market shares in the Finnish chilled packaged fish
sector.
Although the 4 th quarter of 2012 was the best quarter of the year for the fish
business segment as regards to the turnover and the gross profitability, the
results were, in the summary of the 12 months, lower than the corresponding
results of the 4 th quarter of 2011 and the 12 months of 2011. The main reason
thereof is the aforementioned decrease in market price. In the summary of the
12 months, if compared to the previous year, the gross profitability of the fish
business segment decreased by 1 percentage point, which resulted in the
decrease of the gross profit by 1.1 million euro, if compared to the gross profit
of the 12 months of 2011.
The operational EBITDA of the fish business segment of the 12 months of
2012 was 3.3 million euro, which is 0.5 million euro less than the result of the
same period in 2011.
7
SEGMENT ANALYSIS
EUR million Q1 Q2 Q3 Q4 12m 2012 Q1 Q2 Q3 Q4 12m 2011
Sales
Ice cream 3.7 10.7 10.0 3.0 27.4 4.0 12.2 9.4 3.2 28.8
Frozen goods 5.3 5.6 5.6 5.9 22.4 4.9 5.0 5.6 5.1 20.6
Fish and fish products 7.7 9.2 7.3 10.1 34.3 7.4 9.8 8.6 11.2 36.9
Other 0.4 0.6 0.6 0.6 2.3 0.3 0.5 0.5 0.6 1.9
Total 17.1 26.1 23.6 19.6 86.4 16.7 27.6 24.1 20.0 88.3
Gross profit
Ice cream 1.3 5.0 4.6 1.0 11.8 1.0 5.3 3.5 0.7 10.5
Frozen goods 1.2 1.3 1.3 1.3 5.1 1.1 0.9 1.4 1.1 4.6
Fish and fish products 1.5 1.5 1.1 2.0 6.1 1.0 1.8 1.9 2.6 7.2
Gross margin
Ice cream 35% 46% 46% 35% 43% 26% 43% 37% 24% 37%
Frozen goods 24% 23% 23% 22% 23% 23% 19% 25% 22% 22%
Fish and fish products 20% 16% 15% 19% 18% 13% 18% 22% 23% 19%
EBITDA from operations
Ice cream -0.4 1.8 1.5 -0.6 2.4 -0.3 2.7 1.1 -0.9 2.6
Frozen goods -0.3 0.2 0.1 -0.3 -0.3 -0.3 0.1 0.2 -0.4 -0.3
Fish and fish products 0.7 0.8 0.6 1.3 3.3 0.2 0.9 1.0 1.7 3.8
EBITDA
Ice cream -0.4 1.8 1.5 -0.6 2.4 -0.4 2.0 0.9 -0.9 1.5
Frozen goods -0.3 0.2 0.1 -0.3 -0.3 -0.3 0.1 0.2 -0.4 -0.3
Fish and fish products 0.1 -0.1 0.3 1.1 1.5 -0.5 0.4 2.1 1.3 3.3
EBIT
Ice cream -0.6 1.5 1.2 -0.8 1.3 -0.8 1.5 0.5 -1.3 0.0
Frozen goods -0.5 0.1 0.0 -0.5 -0.9 -0.5 0.1 0.0 -0.6 -0.9
Fish and fish products -0.1 -0.3 0.1 0.9 0.6 -0.8 0.1 1.9 1.0 2.1