PRF: Consolidated Unaudited Interim Report of 1st quarter and 3 months of 2012

Premia Foods 

16.05.2012 08:00
---------------------------------------------------------------------------

Tallinn, Estonia, 2012-05-16 08:00 CEST (GLOBE NEWSWIRE) -- 

The unaudited consolidated turnover of AS Premia Foods of the 1st quarter of
2012 increased compared to the same period last year by 2.7% and was 17.1
million euro. 

In addition to the increase in turnover, all the profitability ratios have
improved in the 1st quarter of 2012 and this applies to all the business
segments. 

During this period, the gross profit of the company increased by 29% reaching
4.2 million euro. The gross margin of Premia Foods in the 1st quarter of 2012
was 24.5%, having improved by 5.1 percentage points by year. 

For the first time since Premia became a public company the EBITDA result of
the 1st quarter is positive. The EBITDA from operations improved by 0.5 million
euro, reaching zero. Net profit improved by 0.8 million euro and by the end of
the 1st quarter the company had earned net loss in the amount of 1.2 million
euro, while the result of the same period previous year was net loss in the
amount of 2.0 million euro. 

The group's key ratios of the first quarter of 2012 have been indicated in the
following table. 

                                                                       KEY      
                                                                        RATIOS  
--------------------------------------------------------------------------------
                                                                                
Profit & Loss, EUR   formula                                 Q1 2012   Q1 2011  
 mln                                                                            
Sales                                                            17,1       16,7
Gross profit                                                      4,2        3,2
EBITDA from          before one-offs and fair value               0,0       -0,5
 operations           adjustment                                                
EBITDA                                                           -0,6       -1,3
EBIT                                                             -1,4       -2,3
Net profit                                                       -1,2       -2,0
Gross margin         Gross profit / Net sales                   24,5%      19,4%
EBITDA margin        EBITDA from operations / Net sales          0,1%      -2,7%
EBIT margin          EBIT / Net sales                           -8,3%     -13,8%
Net margin           Net earnings / Net sales                   -6,9%     -11,9%
Operating expense    Operating expenses / Net sales             29,7%      29,6%
 ratio                                                                          
                                                                                
Balance Sheet, EUR   formula                                 31.03.12   31.03.11
 mln                                                                            
Net debt             Short and Long term Loans and               12,2       14,5
                      Borrowings - Cash                                         
Equity                                                           39,3       39,4
Working capital      Current Assets - Current Liabilities        12,0       12,1
Assets                                                           64,2       68,9
Liquidity ratio      Current Assets / Current Liabilities        1,91       1,75
Equity ratio         Equity / Total Assets                        61%        57%
Gearing ratio        Net Debt / (Equity + Net Debt)               24%        27%
Net debt-to-EBITDA   Net Debt / EBITDA from operations           1,98       4,01
ROE                  Net Earnings / Average Equity                 1%         1%
ROA                  Net Earnings / Average Assets                 0%         1%



The turnover and profitability ratios as improved in the 1st quarter of 2012
have also improved the financial position of the company. The financial
leverage ratios of the company have improved and the net debt has decreased by
2.3 million euro. 










         Additional information:
         
         Kuldar Leis
         Premia Foods
         Chairman of management board
         T: +372 6 033 800
         kuldar.leis@premia.ee
         www.premiafoods.eu
News Source: NASDAQ OMX



16.05.2012 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Premia Foods
              
               
              Estonia
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         EE3100101031
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------