OREANDA-NEWS. April 11, 2016. AS PRFoods unaudited consolidated revenue for Q1 2016 decreased by -0.6% compared with the same period in 2015, reaching to 10.2 million euros.

Revenues by product groups

Revenues mln EUR Q1 2016 Q1 2015 Change mln EUR Change % Proportion
Smoked products 3.6 3.8 -0.1 -3.8% 35.3%
Other fish products 1.5 2.1 -0.6 -29.0% 14.9%
Raw fish and fillets 5.1 4.4 +0.7 +15.8% 49.8%
Other 0.01 0.00 +0.01 n/a 0.05%
Total 10.2 10.3 -0.1 -0.6% 100.0%

The biggest increase in revenue came from raw fish and fillets product group, increasing 0.7 million euros i.e. +15.8%. The biggest decrease in revenue came from other fish products group, decreasing -0.6 million euros i.e. -29.0%. The revenue from smoked products group decreased by -3.8%.

Revenues by client segments

Revenues mln EUR Q1 2016 Q1 2015 Change mln EUR Change % Proportion
HoReCa 2.9 3.0 -0.1 -3.3% 28.7%
Retail chains 5.3 5.5 -0.2 -2.8% 51.7%
Wholesale 2.0 1.8 +0.2 +9.3% 19.1%
Other 0.05 0.02 +0.03 +120.3% 0.5%
Total 10.2 10.3 -0.1 -0.6% 100.0%

According to the client segments revenue in wholesale sector increased by +9.3% and decreased in both HoReCa and retail chains sector -3.3% and -2.8%, respectfully.

Revenues by target markets

Revenues mln EUR Q1 2016 Q1 2015 Change mln EUR Change % Proportion
Finland 8.3 9.3 -1.0 -10.6% 81.0%
Estonia 1.4 0.9 +0.5 +54.1% 13.4%
Other 0.6 0.1 +0.4 +331.3% 5.6%
Total 10.2 10.3 -0.1 -0.6% 100.0%

The biggest increase in Q1 2016 came from Estonian market in total of 0.5 million euros. As a result the share of Estonian revenue from total revenue has increased by +4.8 percentage points compared to the same period in previous year. In other countries, mostly in Latvia, the revenue increased by 0.4 million euros. The increase of Estonia’s and Latvia’s market’s revenue has mostly been affected by successful fresh fish and fish fillet’s marketing.

Finnish revenue decreased by 1.0 million euros i.e. -10.6% which is a result of the loss of several Private Label and HoReCa products. The decrease was slightly compensated by orders from couple of new clients. Finnish market revenue has decreased by -9.1 percentage points compared to the previous period and accounted 81.0% of the total revenue of Q1 2016.